Super Tower to scale new heights in region

Super Tower to scale new heights in region

Grand Canal Land sets completion by 2020

SET-listed developer Grand Canal Land Plc (GLAND) plans to launch four new projects worth more than 40 billion baht next year including what will be Southeast Asia's tallest building.

The Super Tower, with a height of 615 metres and 125 storeys, will stand at the Ratchadaphisek-Rama IX intersection.

The structure will have a total area of 320,000 sq m and cost 18 billion baht to develop.

Amenities will include 260 six-star hotel rooms, 90,000 sq m of office space and an observation deck on the top floor.

"It will rank as one of the top 10 tallest buildings in the world," said Grand Canal Land chairman Yotin Boondicharern.

"We expect to attract business from all around the world, with Thailand strategically located in the region's centre once Asean becomes a single market."

Since 1998, the Petronas Twin Towers in Kuala Lumpur have stood as the region's tallest building at 482 m.

In Thailand, Baiyoke Tower II is the tallest at 304 m.

The Super Tower will begin construction next year for completion in 2020.

The company's huge investment for 2015 derives from strong confidence in the new government and its economic policy, said Mr Yotin.

Mr Yotin resumed active investment in Thailand in 2009 after the 1997 financial crisis drove him to pursue investments elsewhere.

His international investments include development of a high-rise building in Hong Kong, a joint venture with Chinese authorities to develop property projects in Shanghai and Shenzhen and land reclamation in the Philippines.

The Super Tower will be among several buildings planned for The Grand Rama 9, a megaproject with a total construction area of 1.2 million sq m worth a combined 120 billion baht.

Grand Canal Land has worked on the 73-rai site since 2009.

The completed projects include eight condo buildings of Belle Grand Rama 9, with 2,000 units worth a combined 14 billion baht and one building remaining for launch by year-end.

Retail projects include The Shoppes Grand Rama 9 with 150,000 sq m of retail space and Central Plaza Grand Rama 9, which has been rented to Central Pattana Plc for 40 years.

Three office towers have been completed — two buildings of The Ninth Towers with a total area of 68,000 sq m and 90% occupancy and a 40,000-sq-m building to house Unilever's regional headquarters by year-end.

Projects under construction include the 72,000-sq-m G-Land Tower, a nine-degree-inclining office building slated for completion next year, and a four-star hotel with 285 rooms.

Besides the Super Tower, the three other new projects are a condo complex near the Miracle Grand Hotel with 17 buildings of 16-storeys each worth a combined 6 billion baht, a single-house project in Don Muang district worth 2 billion baht and a condo project near the single-house project with seven 16-storey buildings worth 10 billion baht.

GLAND shares closed yesterday on the SET at 3.70 baht, down 26 satang, in trade worth 540 million baht.

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