BANGKOK, September 23, 2024 -- About Samyan Mitrtown
Frasers Property Thailand (FPT) celebrated the success of Samyan Mitrtown, the mixed-use development in the heart of Rama 4 road, on its fifth anniversary. In conjunction with the milestone, the company revealed three winning strategies in developing mixed-use projects that can appeal to the new generation who value food and learning, while emphasising its position as a real estate platform focused on delivering better experiences through thoughtfully designed solutions that serve the needs of key stakeholders.
Mr. Thanapol Sirithanachai, Country Chief Executive Officer, Fraser Property (Thailand) Public Company Limited, said, “Samyan Mitrtown is a pioneering mixed-use project on Rama IV Road birthed from the vision of Mr. Panote Sirivadhanabhakdi, Group Chief Executive Officer of Frasers Property Limited, who have leveraged their experiences in domestic and international real estate development to uplift and transform this part of Rama IV Road into a vibrant new Bangkok business district.”
Over the past five years, Samyan Mitrtown has welcomed over 120 million visitors, with a daily footfall of up to 80,000 people. It has been positively received by tenants, with a high occupancy rate of 98% for retail spaces and 97% for office spaces - 14.8% higher than the average occupancy rate of Grade A office buildings in Bangkok1. In residential, Triple Y Hotel within Samyan Mitrtown maintains an occupancy rate of over 90%, while Triple Y Residence, a long-term leasehold condominium, was 100% sold out in 2022 with resale prices increasing by over 20% to 160,000 Baht per square metre. Additionally, Samyan Mitrtown Hall has hosted over 500 events and conferences across various industries from both public and private sectors.
In brief
Frasers Property Thailand marked the fifth anniversary of Samyan Mitrtown, its mixed-use development in Bangkok, and outlined three factors it says have supported the project: a concept rooted in the Samyan community, services and amenities for changing lifestyles, and a mix of uses in one location. The company reported more than 120 million visitors over five years and occupancy rates of 98% for retail and 97% for office space. It also cited activity at the project’s learning space and event venue, alongside hotel and residential performance. Launched in 2019 in collaboration with Chulalongkorn University’s Project Management office, the development includes offices, retail, residences, a hotel and event spaces. FPT said it will continue developing the project around user and community needs.
Key takeaways
- Frasers Property Thailand celebrated five years of Samyan Mitrtown in Bangkok.
- The company reported more than 120 million visitors over five years.
- Retail occupancy was 98% and office occupancy was 97%, according to the company.
- The development combines offices, retail, residences, a hotel, learning areas and event space.
FPT has prioritised designing and developing spaces that cater to the changing needs and lifestyles of customer groups and users, with an aim of creating positive experiences. Samyan Mitrtown has consistently maintained its position in the mixed-use market and captured the hearts of the new generation with three key success factors:
- Mitr - ting place concept: The commitment to develop Samyan Mitrtown five years ago to blend the culture of the Samyan community with its prime location near the Chulalongkorn University, was among the crucial factors that has helped Samyan Mitrtown stand out in Bangkok’s mixed-use market. Beyond being more than just another shopping mall, Samyan Mitrtown has become a space that combines urban living with the essence of the Samyan community, creating unique experiences for everyone with key concept of smart and friendly mixed-use development focusing on different concepts in each part of the development. These include the retail area under the theme of "Urban Life Library", the office space under the "Intelligent Office Tower" concept, and the residential area under the "Neo Explorer Living Platform" concept.
- Mitr mindset: The project differentiates itself by offering diverse services that cater to lifestyles of the new generation. These include 24-hour service areas with restaurants, convenience stores, and a co-learning space, “C asean Samyan CO-OP”, which offers a free learning space that is accessible 24 hours daily and currently has over 180,000 members with 1,500 users on average daily. Unique signature events that integrate users' lifestyles with the distinct characteristics of Samyan Mitrtown, such as the Samyan Milk Garden, the Songkran Water Playground, and the Art Lantern Festival. Enhancing the development's and community's potential with the "MITR Direct Link," a tunnel connecting the Samyan MRT station directly to the project, providing convenience, safety, and seamless access for users and the general public. Landscape and pedestrian convenience on Phaya Thai Road was also enhanced while offering green garden spaces for all users on the fifth floor of the project. These are public benefits that FPT intentionally designed and created to prioritise people, community, and environment.
- The Mitr Ecosystem: Thoughtfully designed with around 30% allocated for each project component, Samyan Mitrtown is a mixed-use development that caters to the lifestyles of diverse age groups, addressing various needs all in one location. These include office spaces, residential, a hotel, retail spaces, green areas for relaxation, areas for learning and creativity, and the Samyan Mitrtown Hall event space that supports the hosting of comprehensive events.
“Over the past five years, the Samyan Mitrtown has achieved success as a mixed-use development that has won the hearts of the new generation. With a clearly articulated concept blending Samyan community culture with diverse lifestyles, it's open for everyone to learn, socialise, and create new experiences together. It is our vision to create smart and friendly spaces for all, with a dedicated team continuously developing the project, actively shaping and being part of a growing community. We believe that Samyan Mitrtown will continue to be a top mixed-use development in the country development and a friendly space for the new generation whose lifestyles favor food and knowledge, adapting to market challenges and meeting the needs of all user groups, in line with our company's Purpose of ‘Inspiring experiences, creating places for good.’,” Mr. Thanapol concluded.
Launched in 2019, Samyan Mitrtown is a collaboration between Frasers Property (Thailand) Public Company Limited and the Project Management of Chulalongkorn University (PMCU). Nearly 14 rai of land was developed into the first comprehensive mixed-use project in the high-potential area of central Rama IV road, with an investment of over 9 billion Baht. Grade A office space, retail areas, condominiums, a hotel, and event spaces were seamlessly blended with the highlights of the Samyan community, guided by FPT's vision under the "Smart & Friendly" concept. This concept imbues the attributes of intelligence, learning, and friendliness, aligning with Samyan Mitrtown's target audience. Its location near Chulalongkorn University, a centre of learning, combined with the Samyan area's old community atmosphere full of friendship and familiarity, has inspired the creation of the Samyan Mitrtown to cater to people of various lifestyles, including working professionals, residents, and general visitors alike.
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Questions around this news
What is Samyan Mitrtown?
Samyan Mitrtown is a mixed-use development in Bangkok’s Rama IV area, launched in 2019 through a collaboration between Frasers Property (Thailand) Public Company Limited and Chulalongkorn University’s Project Management office. The release describes it as combining retail, Grade A offices, residences, a hotel, event facilities, learning spaces and green areas under a “Smart & Friendly” concept.
What facilities and services does Samyan Mitrtown offer?
The development includes retail and office space, a hotel, condominiums, event facilities, green areas and places for learning and creativity. The release also highlights 24-hour services such as restaurants, convenience stores and a co-learning space, plus a direct tunnel connection to Samyan MRT station and public garden space on the fifth floor.
What is a mixed-use development?
A mixed-use development brings different types of property and activity together in one project or area. It may combine homes, offices, shops, hospitality, public spaces and services, allowing people to live, work, shop or gather within the same development. The exact mix and design vary by project.
What does Grade A office space mean?
Grade A is a market classification for high-quality office buildings. It generally refers to properties with features such as modern facilities, strong building management, good accessibility and desirable locations. Rating criteria can differ between markets, so the label is not a single universal standard.
