Dusit Thani lands long-term loan
Chartsiri Sophonpanich, Chairman of Bangkok Bank (center right), and senior Bangkok Bank executives formalized the loan with Chanin Donavanik, Vice Chairman and Chairman of the Executive Committee, Dusit (center left), Suphajee Suthumpun, Group General Manager, Dusit (second from left), La-ead Kovavisaruch, Chief Investment Officer, Dusit, and General Manager of Dusit Unit, Vimarn Suriya (left).
SET-listed hotel giant Dusit Thani secured a long-term loan of undisclosed value from Bangkok Bank.
The loan will cover commercial activities of Dusit Thani, a loan for hotel property development under Dusit’s new hotel subsidiary, Asai, and ongoing projects, in particular Dusit Central Park, the latest class urban landmark world and Bangkok’s mixed-use development.
Dusit Central Park is worth 46 billion baht and sits on the most valuable land in the city.
This mega development is nestled at the bustling corner of Silom and Rama IV Roads, which happens to be opposite the “lung of Bangkok” – Lumpini Park.
This strategic location allows travelers and people from the city center to explore the city while having the opportunity to reach a haven of peaceful nature in no time.
Developed under Dusit’s subsidiary, Vimarn Suriya, Dusit Central Park will be the hospitality giant’s new flagship hotel.
It includes major attractions including the Central Park Mall, Central Park Offices, Dusit Residences and Dusit Parkside Condominiums, and a large rooftop park.
Thai construction mega-company Ritta Co was named as the main contractor for the project in September. Construction is proceeding as planned and underground work is ongoing.
The new Dusit Thani Bangkok hotel, which is the first phase of construction, is expected to be completed by the end of 2023.
Central Park and Central Park Offices will follow in 2024 and Dusit Residences and Dusit Parkside in 2025.