AWC Unveils Ambitious Woeng Nakornkasem Yaowarat Development in Bangkok’s Chinatown
Asset World Corp plans a 16.5 billion baht mixed-use project slated to become a major global tourist destination by 2029.
Asset World Corporation (AWC), a prominent player in Thailand's real estate sector listed on the Stock Exchange of Thailand, has announced details of its ambitious Woeng Nakornkasem Yaowarat project.
This development, valued at approximately 16.5 billion baht, is located in Bangkok's historic Chinatown and aims to become a significant tourist attraction upon completion in 2029.
At a recent press briefing, Wallapa Traisorat, Chief Executive and President of AWC, highlighted the project's extensive scope.
Construction is expected to take five years in addition to the four years of planning already completed.
The complex is to include five underground storeys, comprising three parking levels and two retail floors, which will form the largest underground retail space in Thailand.
With a gross floor area of 135,000 square meters, the project will feature retail space ranging from 40,000 to 50,000 square meters and host two luxury hotels over 10 storeys—an InterContinental with 300 rooms and a Kimpton with 200 rooms.
Emphasizing cultural appeal, the development incorporates a Chinese cartoon theme intended to attract family tourists, particularly from the Middle East and China.
The project is situated on a strategic site bordered by Charoen Krung, Yaowarat, and Chakkrawat roads.
AWC purchased the land in 2021 from TCC Woeng Nakhon Kasem at a cost of 8.26 billion baht, following a bidding process from the Paribatra family to TCC Woeng Nakhon Kasem.
AWC has slated a future investment of 8.24 billion baht for the project's development.
The initial phase is anticipated to open next year, with the company targeting an annual yield of 5%, eventually hoping to increase this to 15% over time.
As part of its integration into the wider urban fabric, Woeng Nakornkasem Yaowarat will connect with other AWC destinations, including the Lhong 1919 and Oang Ang Canal.
The design plans feature a Chinese-style electric tram to enhance tourist transport throughout Chinatown.
AWC’s development strategy aligns with global sustainability trends, with all project components adhering to international green building standards.
The initiative underscores AWC's commitment to revitalizing urban tourism while preserving cultural heritage within Thailand’s capital.
This development, valued at approximately 16.5 billion baht, is located in Bangkok's historic Chinatown and aims to become a significant tourist attraction upon completion in 2029.
At a recent press briefing, Wallapa Traisorat, Chief Executive and President of AWC, highlighted the project's extensive scope.
Construction is expected to take five years in addition to the four years of planning already completed.
The complex is to include five underground storeys, comprising three parking levels and two retail floors, which will form the largest underground retail space in Thailand.
With a gross floor area of 135,000 square meters, the project will feature retail space ranging from 40,000 to 50,000 square meters and host two luxury hotels over 10 storeys—an InterContinental with 300 rooms and a Kimpton with 200 rooms.
Emphasizing cultural appeal, the development incorporates a Chinese cartoon theme intended to attract family tourists, particularly from the Middle East and China.
The project is situated on a strategic site bordered by Charoen Krung, Yaowarat, and Chakkrawat roads.
AWC purchased the land in 2021 from TCC Woeng Nakhon Kasem at a cost of 8.26 billion baht, following a bidding process from the Paribatra family to TCC Woeng Nakhon Kasem.
AWC has slated a future investment of 8.24 billion baht for the project's development.
The initial phase is anticipated to open next year, with the company targeting an annual yield of 5%, eventually hoping to increase this to 15% over time.
As part of its integration into the wider urban fabric, Woeng Nakornkasem Yaowarat will connect with other AWC destinations, including the Lhong 1919 and Oang Ang Canal.
The design plans feature a Chinese-style electric tram to enhance tourist transport throughout Chinatown.
AWC’s development strategy aligns with global sustainability trends, with all project components adhering to international green building standards.
The initiative underscores AWC's commitment to revitalizing urban tourism while preserving cultural heritage within Thailand’s capital.
