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from east to west
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SET plans Bt2 bn new building

The Nation Published on June 16, 2010


The Stock Exchange of Thailand is investing about Bt2 billion into its new building on Ratchadaphisek Road with the aim of turning it into an international financial centre.


SET chairman Sompol Kiatphaibool said the exchange is at the stage of finding an architect as the building should share some features of another complex to be developed by American International Assurance (AIA) on a nearby plot.


"The exchange expects to spend about Bt1.94 billion on the construction of the building on the 5.24rai plot. The budget excludes interior design," he said. "We should have the architect soon so that construction can begin late this year or early 2011 and be completed in the next three years," he added.


The initial idea is to have a 20storeyed building, with a foundation that should support up to 26 floors.


The exchange owns a total of 14.9 rai on Ratchadaphisek Road, opposite Fortune Town. While its building will occupy 5 rai, the rest will be developed by AIA. The entire complex is designed to be an integrated financial centre, in line with the capital market development plan, which will strengthen Thailand's position in the international arena.


"This will be an international financial centre, like what exists overseas," Somkiat said.





This truck blocks the view inside but the AIA project construction has been going on for a while.

Taken on March 10, 2012


The two towers are rising nearby Chinese Embassy and Esplanade, filling the Ratchada skyline (see the piling cranes)

Taken on March 11, 2012 , posted by TheWestWing
 

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from east to west
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Discussion Starter · #2 ·
AIA plans two office towers for B10.5bn

Published: 23/11/2011 at 12:00 AM
Newspaper section: Business


American International Assurance (AIA) is moving ahead with its plans to invest 10.5 billion baht in two large-scale real estate projects.

image hosted on flickr

Mr Tucker (right) and Mr van Oijen pose with models of the two buildings that AIA has in the pipeline.


As well, the country's largest life insurer said it would keep looking for new investment opportunities in Thailand's property market.

Of the 10.5-billion-baht outlay, 6 billion baht would go to building AIA Capital Center on Ratchadaphisek Road. The remaining 4.5 billion baht will be used to construct AIA Sathorn Tower, a 28-storey office complex scheduled for completion in 2015 in Bangkok's Sathorn district.

AIA Capital Center, the company's largest real estate investment in Thailand to date, is scheduled for completion by the end of 2014. The 35-storey commercial complex will be located next to the new Stock Exchange of Thailand headquarters, forming an integral part of the country's new financial hub.

Both office complexes will be constructed using green design technology in order to save power and energy while being environmentally friendly.

Mark Tucker, chief executive and president of Hong Kong-based AIA Group, said the two real estate investments reflected AIA's ongoing confidence in Thailand's long-term growth.

"The impact of the ongoing floods is just short-term. We're looking for long-term growth and are committed to continue looking for new investment opportunities in the real estate in Thailand," said Mr Tucker, without elaborating.

He was in Bangkok this week to attend AIA's annual board of directors' meeting, its first to be held outside Hong Kong since it became a publicly listed company in October 2010.

AIA has been active in the real estate business over the past four years after the Office of the Insurance Commission allowed life insurers to invest up to 15% of their reserves in property.

The company earlier said it would invest up to that limit to diversify its investment from fixed-income assets.

Ron van Oijen, chief executive of AIA Thailand, said that next year's focus for the insurer locally would be on raising awareness about the protection gap.He cited recent studies conducted by his company showing that 76% of all Thais, or 48 million people, do not have life insurance.

"Our studies have shown that underinsurance is a significant issue in Thailand," said Mr Van Oijen.

"Thai consumers need to be more aware of the gap between the protection they have, and the protection they need to ensure they and their families are fully financially protected against uncertainties, in addition to building up regular savings toward the more predictable financial need for retirement income,"


left one

posted by Chad
 

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Sukasam
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Bangkok, 19 December 2013 - Mr. Saloon Tham, AIA Thailand’s CEO (4th from left) leads the Topping Off Ceremony of the AIA Capital Center the ‘one and only’ A grade Office building on Ratchadapisek Rd. Situated on nearly 10 Rai the 34-storey tower has been designed as an Eco-friendly and technologically advanced building which has applied for LEEDS Gold certification.
 

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Sukasam
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AIA Group has invested more than six billion Baht developing this premium office complex, Ratchadapisek Road’s first eco-tower. It will also be a new and outstanding landmark featuring three meter high ceilings, the highest ceiling of all ‘Grade A’ commercial buildings in Thailand.
 

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Sukasam
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"เอไอเอ แคปปิตอล เซ็นเตอร์"

ออฟฟิศสำนักงานให้เช่าระดับพรีเมียม บนถนนรัชดาภิเษก

พร้อมสร้างความแตกต่างด้วยดีไซน์และที่สุดของเทคโนโลยีอาคารสำนักงาน

 
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