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Thai Tycoon's $3.7 Billion Bangkok Development May Lead to REIT

  • Billionaire Charoen Sirivadhanabhakdi reshaping city’s skyline
  • Parts of One Bangkok project could end up in REIT in future
Soon Su Lin
Soon Su LinPhotographer: Pailin Wedel/Bloomberg

Parts of Thai tycoon Charoen Sirivadhanabhakdi’s 120 billion-baht ($3.7 billion) downtown Bangkok real estate project could be sold into a real estate investment trust, the head of the development said.

While Charoen’s TCC Group views the One Bangkok project as a long-term asset, a REIT is an option for efficient capital management, though nothing has been decided yet, the development’s Chief Executive Officer Soon Su Lin said.