Work underway on THB16-bn world-class destination in historic Chinatown

Bangkok is set to unveil a new world-class destination, built at a cost exceeding 16 billion baht, in the heart of Chinatown, aiming to enhance the tourist experience by merging Thai-Chinese heritage.

At a press conference on Thursday, Asset World Corporation (AWC), a leading Thai developer, announced a landmark mixed-use development that promises to redefine urban tourism and cultural preservation in Thailand's capital.

AWC CEO Wallapa Traisorat described the "Woeng Nakornkasem Yaowaraj" project as the company's most ambitious undertaking. Spanning 14 rai (22,400 square metres) in the historic Yaowarat district, it represents AWC's biggest-ever investment and is set to become a global landmark by 2029.

Wallapa Traisorat

"Today marks the first day we begin laying the foundation of the project, with the entire development expected to open by late 2029," Wallapa said. "We will launch the first phase, featuring exterior retail shops, in late 2026. The project aims to enhance and connect all mixed-use developments within AWC's network, turning it into a destination that provides a unique experience for visitors to Bangkok."

The development will showcase three primary components: an eight-storey Chinese Pavilion, two luxury hotels with over 500 rooms, and 68,000 square metres of premium retail space. Critically, the project meets international green building standards, emphasising sustainability and cultural preservation.

Strategic partnerships with InterContinental Hotels Group and Thai Obayashi will support the project's vision. 

"This is AWC's first flagship large mixed-use project," Wallapa explained. "It creates a comprehensive lifestyle experience while preserving the connection of values from the past to the inspirations of the future."

Key features include a museum showcasing historic Thai-Chinese artifacts, the largest ballroom in Yaowarat covering 1,100 square metres, and an iconic shopping centre with luxury brands, Michelin-star restaurants, and local community businesses. The development will also incorporate extensive green spaces and a rooftop garden.

"Woeng Nakornkasem Yaowaraj is not only an important place in Chinatown but also a symbol of connecting historical values with the future," Wallapa added. "We are committed to creating memorable experiences for Thais and tourists while promoting economic growth in the surrounding community."

The 'Woeng Nakornkasem Yaowaraj' project prioritises sustainable development, adhering to Green Building Standards. This includes promoting environmentally friendly practices, aiming for international certifications, supporting the local community, and fostering a deep understanding of cultural heritage to ensure long-term prosperity for all stakeholders.

With a grand opening scheduled for 2029, AWC positions the project as a cornerstone of Bangkok's future tourism strategy. By seamlessly integrating historical architecture with contemporary design, the Woeng Nakornkasem Yaowaraj project aspires to create a holistic destination that celebrates the unique Thai-Chinese heritage of Chinatown while stimulating economic growth and enhancing international tourism appeal.