ASEAN’s tallest skyscraper to be completed in six years
Grand Canal Land this week unveiled plans to erect the tallest building in the ASEAN region with the ‘Super Tower’ project in Bangkok’s new Grand Rama 9 central business district.
Measuring 615 metres, the mixed-use tower will comprise 125 storeys and succeed Kuala Lumpur’s Petronas Twin Towers, which stand at 452 metres and are currently the tallest towers in Southeast Asia.
Designed by Architects 49 Ltd, the Super Tower project will cost THB18 billion (USD554 million) to build and was approved by Grand Canal Land’s board of directors, according to a report by national newspaper The Nation.
United States-based firm Skidmore, Owing & Merrill has been named design consultant, whilst four major Thai banks will provide financing.
“This skyscraper is going to be the new landmark of Thailand, a world-class attraction that everyone must visit at least once in his or her lifetime,” the company announced in a press conference on Tuesday.
Located on a 11.7-hectare plot near the Ratchadapisek Road intersection, the Super Tower will house 90,000 sqm of office space and a 260-room six-star hotel. Once completed at the end of 2019, it was said to anchor the Grand Rama 9 complex and would benefit from a six-lane private road that connects Rama IX and Ratchadapisek highways.
The developer, led by its chairman Yothin Boondicharern, and major shareholders, including Charoenkrit Enterprise, the Channel 7 group, Bangkok Bank and the Italian-Thai Development Group, are set to announce an official name for the tower following a naming contest.
A number of super-tall buildings—towers measuring at least 300 metres—are under construction in Thailand, including the ultra-prime MahaNakhon project, which will feature The Ritz-Carlton Residences, and Magnolias Waterfront Residences at IconSiam, which will rise at 310 metres.
According to property consulting firm CBRE Thailand managing director Aliwassa Pathnadabutr, super-tall towers are a new phenomenon in the Kingdom and it remains to be seen if the development costs are worth it in such products.
Pathnadabutr said that the most popular buildings in Thailand are within the 30-50 storey range, which “can command higher prices per square metre for condominiums and relatively higher rentals for offices.”
“Once the height is over 50 storeys, though, the buyers or tenants will weigh between the increased price/rental against the height and, in most cases, the preference will be for 30-to-50-storey buildings. We have yet to see a premium in prices of buildings with more than 60 floors,” she noted.
To date, only one super-tall building in Bangkok has been completed—the 85-storey Baiyok II Tower, which houses a luxury hotel.
“Some of the super-tall developments in the country are paired with top hotel brands to strengthen the image of these buildings and the confidence of buyers in terms of operation and design and the quality standards required by hotel operators,” she commented.