Bangkok; 18 June 2014 – Country Group Development PCL (“CGD”) celebrated its Foundation Stone Laying Ceremony for the construction of its mixed-use property, Landmark Waterfront Project. The event was held at the development’s location, in Charoenkrung Road, Sathorn district, Bangkok.
Succeeding the THB 11.6 billion financial framework agreement with China’s EXIM Bank; CGD celebrated the Foundation Stone Laying Ceremony, the auspicious merit making occasion, for its new flagship property.
“The Foundation Stone Laying Ceremony, which marks the formal commencement of construction, represents another important milestone in CGD’s trajectory since acquiring the iconic Landmark Waterfront Project. On behalf of the Board of Directors of CGD, we would like to express our heartfelt thanks to our honorable guests & partners who all have contributed to the inauguration of this project.” Mr. Ben Taechaubol, CEO of CGD shared his thoughts.
The project has received both EIA and 39 thawi approvals and piling works will take place immediately following this Foundation Stone Laying Ceremony. CGD entered into a joint venture agreement with one of the world’s leading construction groups, and China's top ten international contractors, Beijing Construction Engineering Group International (BCEGI), in April 2014, who will assume a dual role as both partner and main contractor. Piling works has been awarded to two leading local companies in the field of foundation engineering, Thai BAUER Co., Ltd. and Pylon PLC.
Landmark Waterfront Project is an ultra-luxury, mixed-use property valued at Baht 29 billion. The estate features two luxury hotels and a 73 story branded residential tower; situated on an unprecedented 36 rai plot of land, with 350m of sweeping waterfront promenade along the Chao Phraya River in Bangkok’s CBD.
CGD represents the real estate arm of the Country Group of companies, a multi sector group spanning financial services, funds management, investment management and real estate development. CGD’s present portfolio of projects alongside Landmark Waterfront Project includes the Elements Srinakarin, a 13 rai, low rise urban residential property located in Srinakarin with a market value of Baht 2.7 billion, and Anchorage Point, a data center located in the Docklands area of London, UK, with a market value of Baht 1.35 billion.