Dusit Thani lands long-term credit loan

SET-listed hospitality giant Dusit Thani has secured a long-term credit loan of an undisclosed value from Bangkok Bank.

The loan will cover Dusit Thani’s business operations, a property development loan for hotels under Dusit’s new hospitality subsidiary Asai, and ongoing projects, especially Dusit Central Park — Bangkok’s latest world-class city landmark and mixed-use development.

Dusit Central Park is worth a whopping 46 billion baht and sits on the city’s most valuable land.

This mega-development project is nestled on the bustling corner of Silom and Rama IV roads, which happens to be opposite from ‘Bangkok’s lung’ – Lumpini Park.

This strategic location enables travellers and downtowners to explore the city while having the option of reaching a haven of peaceful nature in no time.

Developed under Dusit’s subsidiary Vimarn Suriya, Dusit Central Park will be the hospitality giant’s new flagship hotel.

It is comprised of prominent attractions, including Central Park Shopping

Centre, Central Park Offices, Dusit Residences and Dusit Parkside condominiums, and a large rooftop park.

Thailand’s mega construction firm Ritta Co was appointed as the project’s main contractor in September. The construction is going as planned with the underground work now underway.

The new Dusit Thani Bangkok Hotel, which is the first phase of the construction, is expected to be completed at the end of 2023.

The Central Park and Central Park Offices will follow suit in 2024 and the Dusit Residences and Dusit Parkside in 2025.

Chartsiri Sophonpanich, president of Bangkok Bank (centre right), and senior executives from Bangkok Bank, formalised the loan with Chanin Donavanik, vice-chairman and chairman of the Executive Committee, Dusit (centre left), Suphajee Suthumpun, group chief executive, Dusit (second from left), La-ead Kovavisaruch, chief investment officer, Dusit, and chief executive of Dusit unit Vimarn Suriya (left).