How Bangkok’s river scene will transform in 2 years
How Bangkok’s river scene will transform in 2 years
The ‘Venice of the East’ now has luxury cruisers reminiscent of Venetian river boats
Bangkok’s majestic Chao Phraya River won’t be the same over the next couple of years.
Developers, hoteliers, and retailers are swooping on its banks as demand rises for properties with great views of the river and train routes move closer.
A series of upscale property developments amounting to more than THB200 billion (USD5.5 billion) will have been completed around the iconic waterway by 2018, The Nation reported.
Among them is the joint venture by CP Group, Siam Piwat Co, and Magnolia Quality Development Corp to develop a 750,000-sqm stretch of the riverside. Costing THB54 billion (USD1.6 billion), their IconSiam development will open in 2017 with upmarket retail complexes, condominium blocks, and a USD11.5 million water-fire-sound-and-light feature.
More: Bangkok riverside: the city’s final development frontier
The Chao Phraya area remains a plum piece of real estate more than ever. Thai Condominium Association president Prasert Taedullayasatit told The Nation last year that Chao Phraya land prices hovered at THB150,000-200,000 (USD4,200-5,600) per square wah, compared with THB50,000 (USD1,400) per sq wah in 2011.
A new route in Bangkok’s mass transit network, the BTS Skytrain Gold Line, is expected to drive more locators to the area when it starts running along the river next year.
There’s even a more posh way to navigate Chao Phraya. Lifestyle brand X2 launched in May a fleet of custom-designed river cruisers inspired by taxi boats in Venice.
Fully air-conditioned with leather interiors and powered by Alfa Romeo turbo engines, the river cruisers open up to a targa-style roof for sightseeing along the Chao Phraya – itself the ‘Venice of the East.’
“Most people may think of Bangkok as a busy city with streets full of cars, tuk-tuks, buildings and malls, but actually Bangkok has other interesting sights,” Anthony McDonald, CEO and founder of X2, said. “We see the lives along Chao Phraya River and canals are one of them.”
Source: Property Report