AWC secures 40.5bn-baht green push, led by 10.5bn Yaowaraj revival
AWC and SCB have agreed 40.5 billion baht in sustainable financing, including a 10.5-billion-baht green loan for a major Yaowaraj mixed-use landmark.
- Asset World Corporation (AWC) has secured a 40.5 billion-baht sustainable financing agreement with Siam Commercial Bank (SCB) for its property and tourism projects.
- A significant portion of the funding, a 10.5 billion-baht green loan, is specifically dedicated to the Woeng Nakornkasem Yaowaraj project to revive a historic part of Bangkok's Chinatown.
- The Yaowaraj project will be developed into a world-class mixed-use tourism destination featuring luxury hotels, retail, and cultural facilities, scheduled to open fully in 2029.
- The remaining 30 billion baht is a sustainability-linked loan for other AWC developments, with the entire financing package tied to environmental, social, and governance (ESG) performance goals.
Asset World Corporation (AWC) and Siam Commercial Bank (SCB) have signed a 40.5-billion-baht sustainable financing agreement to support the growth of Thailand’s property and tourism industries.
The package comprises sustainability-linked and green loans, including 10.5 billion baht specifically allocated to the development of Woeng Nakornkasem Yaowaraj. The project is intended to revive a historic part of Bangkok’s Chinatown and transform it into a world-class mixed-use tourism destination.
The remaining 30 billion baht will be provided through a sustainability-linked loan to support other AWC projects across Thailand.
Wallapa Traisorat, chief executive officer and president of AWC, said the financing represented another important step in the company’s Sustainable Growth-Led Strategy.
She said AWC believed that attracting travellers from around the world, combined with support from partners sharing the same vision, would strengthen Thailand’s tourism economy and create lasting value for the country and its industries.
The company’s property-development strategy covers three dimensions of sustainability: protecting the environment, supporting communities and society, and generating employment and income that can be returned to local communities over the long term.
Financing structure links growth with sustainability
The agreement is divided into a 10.5-billion-baht green loan earmarked for Woeng Nakornkasem Yaowaraj and a 30-billion-baht sustainability-linked loan for other AWC developments nationwide.
The financing structure incorporates environmental, social and governance performance indicators into the conditions used to determine financial returns.
SCB’s support reflects its confidence in AWC’s financial position, including an interest-bearing debt-to-equity ratio below the property industry average. Both organisations also received international recognition for sustainability performance in 2026.
AWC was ranked first globally in the Hotels, Resorts and Cruise Lines industry in the S&P Global Corporate Sustainability Assessment and was placed among the top 1% of companies in the S&P Global Sustainability Yearbook.
SCBX Group received the highest score among Thai banks and was listed in the top 10% of the S&P Global Sustainability Yearbook. It was also included on the CDP A List for climate-change performance for a second consecutive year.
Historic district set to become global tourism hub
Woeng Nakornkasem Yaowaraj occupies more than 14 rai in the heart of Yaowaraj, an area that has served as an important centre of Thai-Chinese culture and commerce since the late 18th century.
Developed under the concept “Legacy of the Past, Inspiration of Tomorrow”, the project will combine the area’s historical identity with contemporary hospitality, retail, cultural and entertainment facilities.
It will be AWC’s largest landmark mixed-use development and is scheduled to open fully in 2029.
The project will feature two international luxury hotels — InterContinental Bangkok Chinatown and Kimpton Bangkok Chinatown — expanding the area’s capacity to accommodate high-end travellers and families.
Lifestyle and cultural facilities will include premium shopping areas, a contemporary Chinese pavilion and spaces for community activities.
A Kung Fu Panda-themed attraction is also planned in collaboration with Universal Destinations & Experiences, combining an internationally recognised character with Yaowaraj’s traditional cultural identity to create a new tourism attraction.
Green standards support net-zero ambitions
Woeng Nakornkasem Yaowaraj will be constructed and managed in line with international green-building standards under AWC’s 3BETTERs framework.
The framework covers Better Planet, focusing on environmental improvement; Better People, supporting communities and society; and Better Prosperity, promoting sustainable economic development.
The sustainability-linked financing is expected to accelerate improvements in energy efficiency, reductions in greenhouse-gas emissions and more sustainable management of resources across AWC’s property portfolio.
SCB aims for the development to serve as a global green mixed-use model and encourage other businesses in Thailand and overseas to adopt similar environmental practices.
The partnership is also intended to support Bangkok and Thailand in strengthening their position as leading global destinations for sustainable tourism.
Source: Thansettakij
