TCC Land, a subsidiary of TCC Holding controlled by liquor tycoon Charoen Sirivadhanabhakdi, plans to join four overseas partners to develop retail, logistics, warehouse and residential projects in four provinces next year. Chief executive Wallapa Traisorat said the company planned to develop land plots in Rayong and Ayutthaya for industrial estates and warehouses to support the logistics of Thai Beverage. Mr Charoen’s Singapore-listed flagship company, and Berli Jucker Food.
In Rayong, it may invest or form a joint venture with one of the top three logistics firms in Singapore. It hopes to have at least four large plots for warehouses and industrial estates to offer nationwide service. The company will also sign a memorandum of understanding with a partner next month to develop 10,000 rai in Cha-am into an ecological project. This site was earlier mentioned as a possible Disney theme park, but that may be moved to Ayutthaya province.
As well, TCC Land is in talks with a US-based retailer about developing a premium outlet on a 50-rai plot in the Kaset-Nawamin area, near Royal Residence, its luxury single-housing project. ‘The latest Phuket housing projects are listed at FazWaz. ‘The site in Kaset-Nawamin area is very large with a total of more than 500 rai so it needs a master plan. We aim to develop premium property projects including retail, auto mall and high-end residence,” said Ms Wallapa, Mr Charoen’s youngest daughter, adding that a Singaporean partner would join the retail business.
Royal Residence, which is being developed by subsidiary TCC Capital Land, will be launched in February with 79 units priced at 35-120 million baht each and a sales value of 4.3 billion baht.
TCC Capital Land plans to launch North Park Place worth 1.2 billion baht in November. It will have 17 storeys with 128 units from 100-400 square metres and priced at 80,000 baht per sq m.
Ms Wallapa said the project would be a condotel, or a condominium with hotel services. The current customer base has already booked 28 units. Currently, the Villa Ratchathewi project is 95% sold and Villa Sathorn is 87% sold. Meanwhile, Atheaacnee Residence will be transferred to customers by the end of the year.
TCC Land also plans to convert 14 private funds holding the group’s hotels and retail businesses into a public fund to be listed in Singapore and Hong Kong with a size of at least US$600-800 million. The company is considering selling its hotels in Thailand and overseas into a hospitality fund.