Frasers Property ‘closely monitoring’ aftermath of Myanmar quake
[SINGAPORE] Singapore-listed Frasers Property Ltd, which owns and operates hospitality and commercial assets in Bangkok and recently opened a mega mixed development in the Thai capital, is “closely monitoring the aftermath of the earthquake in Myanmar and its impact on Thailand”, the group said on Saturday (Mar 29).
A 7.7 magnitude earthquake in Myanmar shook buildings in Bangkok and caused a skyscraper under construction, identified in a report by Thai media The Nation as the State Audit Office, to collapse on Friday.
In response to queries from The Business Times, a spokesperson for Frasers Property said all the group’s hospitality properties and malls, including One Bangkok, have resumed operations. Detailed inspections of its buildings are in progress.
Frasers said it had confirmed that all Frasers Property employees in Bangkok are safe. “Our priority remains the safety and well-being of our employees, tenants, and residents. We continue to assess the situation and are looking into ways to support the broader community if needed,” the spokesperson said.
One Bangkok is a massive integrated development spanning 1.93 million square metres of gross floor area, being built on 17 hectares of land in the capital’s central business district.
The 120 billion baht (S$4.8 billion) project will have five premium office towers, five hotels including Bangkok’s first Ritz-Carlton and Andaz, three luxury residential towers and three mega malls.
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Three of the office towers are fully operational, with tenants including multinationals such as Baker McKenzie, Estee Lauder, and BMW Group Thailand.
One Bangkok was officially opened in October last year, with two of its three retail spaces now open to the public. Anchor tenants include Christina Ong’s Club 21, which opened a multi-label store, and brands such as Jim Thompson and Swatch.
The group’s Frasers Hospitality arm manages three serviced residences in Bangkok - Fraser Suites Sukhumvit, Modena by Fraser Bangkok, and North Park Place.
In addition, it has an effective interest of 59.6 per cent in Frasers Property (Thailand) Public Company Limited, which develops and manages a diversified portfolio of assets. Its properties, held across the residential, industrial and logistics, commercial, retail and hospitality asset classes in Thailand, include the W Hotel Bangkok.
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