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CRC to start Embassy development next year

Central Retail Corporation (CRC), the country's largest retail chain, expects to start a development costing 10-15 billion baht at the British Embassy site next to Central Chidlom next year. The planned 30-storey building has been inspired by the infinity symbol. The planned development, confirmed at a recent meeting of top executives, is expected to take at least three years to complete. The nine-rai plot was purchased from the British Embassy in early 2006 through Tiang Chirathivat Real Estate, an affiliate of the Central Group. The planned 30-storey building will include retail and entertainment areas as well as a six-star hotel. The company has been negotiating with international chains including Ritz Carlton to find a company to manage the hotel. A Central Group executive, who asked not to be named, said the new development would be linked with the Central Chidlom department store and the Phloenchit BTS station to improve traffic flow. He said CRC would develop what the area needs and what complements Central Chidlom, the group's flagship store. "We will continue to invest in our new development next door to Chidlom. But we are not in a hurry for this project and want to make it a new landmark for Bangkok and a must-see for visitors to Thailand." Under an earlier business plan, CRC chief executive Tos Chirathivat said the project would have a maximum usable space of 160,000 square metres. The new development would echo shopping destinations such as New York, Paris and Singapore and create a leading shopping street linking Sukhumvit, Phloenchit, Ratchaprasong and Siam Square. The London firm Amanda Levete Architects has designed the building based on the symbol for infinity, which reflects the group's vision of dynamic development. The facade will use reflective materials whose colours can be adjusted using advanced computer software. Bangkok Post May 6, 2009

 

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