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Old December 12th, 2007, 06:52 PM   #1
Chad
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Novotel Ploenchit, 27 Storey : Ploenchit



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Originally Posted by jooons View Post
PROPERTY / NEW DEVELOPMENT at BANGKOK POST Today
Fico to develop four CBD projects in 2008
KANANA KATHARANGSIPORN

Fico Group, owned by the Srichawla family, plans to invest 4.5 billion baht to develop four projects in the central business district (CBD) and Samui next year, says Sorakrich Vora-Urai, the company's chief financial officer.

''We're also talking with a few partners to set up property funds that should have a size of at least seven billion baht if they are formed overseas. We will group our portfolio of future property projects before setting up [the funds], which should be from 2008 onwards while we will get listed in 2010,'' said Mr Sorakrich.

The CBD projects would include a serviced apartment building in the Lang Suan area on a 1.5-rai site where the Ad Makers Pub & Restaurant is currently situated. With an investment of one billion baht, it would have 22 storeys with 166 units and a total area of 7,275 square metres.

By the third quarter of 2008, the company would spend one billion baht to develop a 300-room hotel with a shopping centre on a two-rai site on Phloen Chit Road that it would lease for 30-years.

It also plans to renovate the former Silom Plaza Hotel, which the company acquired in February 2007. The 200-room hotel would reopen by 2009, said Mr Sorakrich.

In March 2007, the group also took over Laem Set Inn on Koh Samui and bought some plots of land nearby to develop a five-star hotel with 300 rooms and condominium and villas.

The Samui project is a joint venture with MAI-listed Siam2You, which spent a total of 65 million baht to acquire 22.94% of shares in Fena Park Co and 31.38% in Casa Fico Co, both subsidiaries of Fico Group.

''S2Y's new management team has experience in property portfolio management and knows foreign investors, which will contribute to our group's business,'' he said.

Fico Group, which changed its name from Fenatex International last year, has been active in the textile business for 60 years before diversifying into property in the past four years.

It has invested a total of 7.1 billion baht in five projects in the CBD area. Last year it sold the 30-year leasehold Fenix Tower with 12 storeys and a rentable area of 21,000 sq m located on Sukhumvit Road to ING Real Estate.

It has also a joint venture with the Singapore-based investor City Development Limited in the 327-room Grand Millennium Sukhumvit Hotel worth 2.6 billion baht located on Asok Road.

Another is Interchange 21, an office building with a total area of 50,000 sq m on Sukhumvit Road, which is held through a joint venture with the Swiss textile firm Bishop. The return on investment would be 15%, he said.

Net profit generated from the property business this year would be around 80-90 million baht, while the textile business generates 800-900 million baht a year for the group.
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Old December 12th, 2007, 06:54 PM   #2
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This one is just right infront of The Atthenee Residence., between The Q-House Ploenchit and Mahathun Plaza.

here is the dated design, now I believe it has been almost totally changed.
image hosted on flickr
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Old December 12th, 2007, 08:31 PM   #3
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Looking good! I hope the new design is equally pleasing.

At 34 storeys it would be almost twice as tall as in the rendering
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Old December 13th, 2007, 08:30 AM   #4
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Very nice location!.
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Old December 13th, 2007, 09:20 AM   #5
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I like the glass maximizing design very robust industrial chic
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Old December 13th, 2007, 04:15 PM   #6
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the old design looks pretty good........
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Old December 13th, 2007, 06:33 PM   #7
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i love the old design, although its not tall, its elegance and the way it fills out that space is just brilliant. its glassy and cosmopolitan, just lifts bangkok wayy above the third world-ness that still lurks and makes that area all very classy
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Old December 14th, 2007, 04:14 AM   #8
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very nice. i love it! hope we see more of those modern facades in bangkok soon.
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Old December 14th, 2007, 04:55 AM   #9
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good one
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Old March 10th, 2008, 04:45 PM   #10
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any word on this beautiful little 34 flr hotel?

Quote:
Originally Posted by Chad View Post
This one is just right infront of The Atthenee Residence., between The Q-House Ploenchit and Mahathun Plaza.

here is the dated design, now I believe it has been almost totally changed.
image hosted on flickr
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Old March 20th, 2008, 01:35 AM   #11
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i like this color
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Old March 20th, 2008, 01:41 AM   #12
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Some new curtains and the color will change completely That's the beauty of glass, or if you mean the hue of the galss and the black metal parts I agree, that's a great combo.

It doesn't look 34 storeys tall though
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Old March 20th, 2008, 05:11 AM   #13
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in the render it's only 18 stories
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Old March 20th, 2008, 06:11 AM   #14
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Design is great
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Old March 20th, 2008, 07:54 AM   #15
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Look like modern Europe Style
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Old April 11th, 2008, 10:13 PM   #16
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Final Design ! :

The Building will be wrapped by LED Lights.....again......lol

image hosted on flickr
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Old April 11th, 2008, 10:26 PM   #17
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WOW, another LED!!!
glad they changed the design, this new one is a lot more modern
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Old April 12th, 2008, 12:04 AM   #18
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Great! It reminds me of this building in Macau
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Old April 12th, 2008, 01:49 AM   #19
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I have a feeling they'll cheap out and leave the LED out
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Old April 12th, 2008, 05:55 AM   #20
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palmer did it again
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