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Swire Properties has acquired a 40% interest in a freehold plot in the core CBD area of Bangkok. The interest in the site, located on Wireless Road in Pathum Wan District – one of the city’s most prestigious addresses – was acquired from HKR International Limited for a consideration of THB 2.4 billion (around HK$570 million). The acquisition marks Swire Properties’ first investment in the Bangkok property market. The company plans to develop the site into a luxury condominium project, in partnership with renowned local developer, City Realty Co. Ltd.
With an area of 12,666 square metres, the site enjoys an unrivalled location in the core CBD area of Bangkok, adjacent to Lumphini Park, and is conveniently located close to upscale shopping malls, international schools, five-star hotels and embassies.