[SINGAPORE] Singapore-listed Frasers Property Ltd, which owns and operates hospitality and commercial assets in Bangkok and is building a mega mixed development in the Thai capital, is “closely monitoring the aftermath of the earthquake in Myanmar and its impact on Thailand”, the group said on Saturday (Mar 29).
A 7.7 magnitude earthquake in Myanmar shook buildings in Bangkok and caused a skyscraper under construction to collapse on Friday.
In response to queries from The Business Times, a spokesperson for Frasers Property said detailed inspections of its buildings are in progress.
Frasers said it had confirmed that all Frasers Property employees in Bangkok are safe, and all the group’s hospitality properties and malls, including One Bangkok, have resumed operations.
“Our priority remains the safety and well-being of our employees, tenants, and residents. We continue to assess the situation and are looking into ways to support the broader community if needed,” the spokesperson said.
One Bangkok is a massive integrated development spanning 1.93 million square metres of gross floor area, being built on 17 hectares of land in the capital’s central business district.
A NEWSLETTER FOR YOU
Tuesday, 12 pm
Property Insights
Get an exclusive analysis of real estate and property news in Singapore and beyond.
The 120 billion baht (S$4.8 billion) project will have five premium office towers, five hotels including Bangkok’s first Ritz-Carlton and Andaz, three luxury residential towers and three mega malls.
Three of the office towers are fully operational, with tenants including multinationals such as Baker McKenzie, Estee Lauder, and BMW Group Thailand.
One Bangkok was officially opened in October last year, with two of its three retail spaces now open to the public. Anchor tenants include Christina Ong’s Club 21, which opened a multi-label store, and brands such as Jim Thompson and Swatch.
The group’s Frasers Hospitality arm manages three serviced residences in Bangkok – Fraser Suites Sukhumvit, Modena by Fraser Bangkok, and North Park Place.
Frasers Property also holds a 39.9 per cent stake in Golden Land, a leading real estate developer in Thailand which also owns or has interests in hospitality properties such as the W Hotel Bangkok and Mayfair Marriott Executive Apartments.
In addition, it has a deemed interest of 80.77 per cent in Frasers Property (Thailand) Public Company Limited, developing, holding and managing industrial space in locations across Thailand.
