TCC Assets has announced construction of The Parq, a 20-billion-baht mixed-use development that is expected to highlight the role of Queen Sirikit National Convention Center (QSNCC) as a commercial district.
The building will cover 24 rai, including premium office space integrated with retail zones, restaurants and a hospitality component.
Construction has commenced and the first phase of The Parq, comprising office and retail space, will open in the second half of 2019. The entire project will be completed in 2023.
The property has been leased from the Crown Property Bureau for 30 years with an option to renew for another 30.
The Parq's first phase of development totals 71,000 square metres of net leasable area, including 60,000 sq m of premium office space.
Premium retail space will occupy 11,000 sq m of the property, and will include restaurants, a supermarket and a food court under the "Eat Well and Shop Well" concept.
The Parq's second phase includes additional premium office space and a hospitality component that will primarily cater to business people and those attending conventions and conferences at the nearby QSNCC.
TCC Assets said The Parq aims to be the first development in Thailand to be both LEED Gold and WELL-certified.
The project will supplement surrounding developments to strengthen the reputation of QSNCC as the largest Mice hub in downtown Bangkok,as well as a new commercial district with direct access to Benjakitti Park.
The Parq is being developed by TCC Assets in collaboration with Frasers Property Holdings Thailand Co Ltd, which serves as the project's development manager. Frasers Property is the international property brand of Frasers Centrepoint Limited.
"The Parq is conveniently interconnected to retail zones, restaurants and hospitality components. The office space offers the largest floor plate of any commercial office in Bangkok, which is also column-free. It also enjoys direct access to the QSNCC MRT station," said Panot Sirivadhanabhakdi, director of TCC Assets.
Palmer & Turner was brought on as the architectural firm and PIA Interior has been tasked with interior design. Mr Panot said the project has over 7,000 sq m of green and open areas, designed by landscape architecture firm Shma.
Landscaped gardens will span over 200m along the length of the property frontage on Rama IV and Ratchadapisek roads. The project will be centred around a 3,400 sq m open-air rooftop garden. Additional green areas will be integrated throughout the development.
"Health is the new wealth, with both firms and employees placing a higher value on physical and mental wellness to improve productivity and retention of talent in the workplace. We are developing workspaces that will allow corporations to create healthy work environments for their employees, which will be enhanced by the proximity of 450-rai Benjakitti Park," said Mr Panot.
Su Lin Soon, chief executive for development of The Parq, said: "Our column-free floor plate, the largest of any commercial office in Bangkok, will meet the ongoing trend of companies wanting to consolidate their operations on a single floor for better internal communications and more collaborative workspaces."
The floor plates are designed to maximise natural light penetration, she said.