TCC Assets announces construction of ‘The PARQ’ – a new THB 20,000 million mixed-use development

Tue, 12 Dec 2017 In Press Release

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A new THB 20,000 million mixed-use development to accelerate emergence of Queen Sirikit National Convention Centre node as a dynamic commercial district

  • Brings together 320,000 square metres of premium office space integrated with retail zones, restaurants, and a hospitality component in an environment that promotes everyday wellbeing and well-balanced daily life
  • Emphasises ‘wellness and quality of life’, aims to be the first development in Thailand to be both LEED Gold and WELL certified to elevate daily work experience
  • Complements surrounding projects to strengthen QSNCC node as the largest MICE hub in Bangkok city centre and a new commercial district with direct access to Benjakitti Park
  • Offers the largest floor plate of any commercial office in Bangkok
  • Office and Retail Phase 1 completion scheduled for 2019

Bangkok (12 December 2017) – TCC Assets (Thailand) Co., Ltd. today announced that it has started construction of ‘The PARQ’, a THB 20,000 million transformative mixed-use development on a 24-rai (38,400 sq. m.) plot on Rama IV road, adjacent to the Queen Sirikit National Convention Centre (QSNCC) and opposite to FYI Center Building, that will cement the status of the area as central Bangkok’s largest city-centre meetings, incentives, conferences and exhibitions (MICE) hub and a dynamic commercial district.

The PARQ is being developed by TCC Assets with Frasers Property Holdings (Thailand) Co., Ltd. as the project’s development manager. Frasers Property is the international property brand of Frasers Centrepoint Limited, a full-fledged multi-national real estate company with a strong track record for developing large scale projects that are inclusive and successfully contribute to the cities in which they are built.

Mr. Panot Sirivadhanabhakdi, Director of TCC Assets, said, “The PARQ introduces some of the city’s most innovative and premium office spaces that are conveniently interconnected to retail zones, restaurants, and a hospitality component. With a total gross floor area of 320,000 square metres, our vision is to create an environment that enhances the quality of life of its occupants and visitors. The office space offers the largest floor plate of any commercial office in Bangkok, which is also column-free. Conveniently, The PARQ also enjoys direct access to the QSNCC MRT station.”

“What really distinguishes this development is its extraordinary focus on promoting wellness. We are creating an environment that encourages everyday wellness, as well as helping to provide a balance between work and relaxation for people working at The PARQ and in the surrounding areas,” he said.

Mr. Panot added, “The project sets new standards in terms of the quality of life around one’s ideal workplace, with outstanding architecture by Palmer & Turner and interior design by PIA Interior. The project has over 7,000 square metres of green and open area, designed by landscape architecture firm Shma, spread throughout and introduces innovative facilities with state-of-the-art technologies that will enhance everyday wellbeing of occupants and visitors as the first development to pursue WELL certification in Thailand.”

Landscaped gardens will span over 200 metres along the length of the property frontage on Rama IV and Ratchadapisek roads, providing comfortable ambient conditions while also improving the natural environment along Rama IV for the community, visitors and passing commuters. The project is centered around a 3,400 square metre open-air rooftop garden with lush planting and water features. Additional green areas are integrated throughout the development so occupants and visitors can easily access moments with nature at all times.

Mr. Panot said, “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 corporates to create healthy work environments for their employees by integrating wellness features into the development’s facilities and amenities. This is further enhanced by the proximity of the lively Benjakitti Park, which is being expanded to over 450 rai.”

Ms. Su Lin Soon, CEO - Development, 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, improved productivity and more collaborative workspaces. With offices, retail zones, food & beverage offerings, and hospitality components, The PARQ will complement surrounding properties, including the successful FYI Center Building and QSNCC, making the area a dynamic commercial node and the city center’s largest MICE hub. The PARQ has superb accessibility being directly connected to Bangkok’s mass rapid transit systems via the QSNCC MRT station, as well as direct access to Rama IV Road, Ratchadapisek Road and Rama III Road, and easy access to the expressway system.”

The PARQ’s first phase of development totals 71,000 square metres of net leasable area that includes 60,000 square metres of premium office space, the first in Thailand to pursue both LEED Gold and WELL certifications*. The efficient floorplates maximize natural light penetration and range from 2,400 to 5,100 square metres. It offers outstanding features to enhance everyday wellbeing of occupants and visitors, such as the expansive rooftop garden, superior indoor air quality, potable water in every office pantry, velo-storage for cycling and fitness enthusiasts. To complement and further enhance the urban lifestyle, 11,000 square metres are allocated to premium retail spaces, restaurants, a supermarket and a food court under the ‘Eat Well and Shop Well’ concept. A retail destination for neighbourhood, the shops and restaurants at The PARQ will be curated to meet everyday needs for convenience, from health, beauty, and fitness options to a comprehensive range of services for people working or doing activities in and around the project.

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 Queen Sirikit National Convention Centre.

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 is leased from the Crown Property Bureau for 30 years with an option to renew for another 30 years.