Completed Mixed AidData Chinese Aid

China Eximbank provides loan worth THB 11.6 billion for Chao Phraya Estate Landmark Waterfront Construction Project (Linked to Record ID#73300)

$11.6M USD

Funder	Export-Import Bank of China (China Eximbank)
Recipient Organization	Landmark Holdings Company Limited
Country	Thailand
Start Date	Nov 01, 2013
End Date	Jul 26, 2028
Duration	5,381 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`64411`

Grant Description

China Eximbank provides loan worth THB 11.6 billion for Chao Phraya Estate Landmark Waterfront Construction Project In 2013, China Eximbank reportedly issued a loan worth 11.6 billion baht to Landmark Holdings Company Limited — a special purpose vehicle and joint venture of BCEG Thai International Co., Ltd and the MAI-listed firm Country Group Development Plc (CGD) — for the Chao Phraya Estate Landmark Waterfront Construction Project.

The purpose of this project is to construct a high-end residential and hotel project (known as the Landmark Waterfront or Chao Phraya Estate) on a prestigious waterfront address along the Chao Phraya River in the city of Bangkok. Upon completion, it will be the first luxury, 5-star hotel-managed riverside condominium in Bangkok.

The total investment in the project is 29 billion baht, of which 11.6 billion baht comes from the loan of the Export-Import Bank of China. A groundbreaking ceremony took place on June 6, 2014. However, construction did not begin until June 19, 2014. Construction ended on or around February 13, 2018.

The hotel (Four Seasons Private Residences) officially opened during the summer of 2018.

📋 Staff Comments

This project is also known as the Chao Phraya Estate Project.
On September 19, 2016, it was announced that Country Group Development and Joint Venture partner BCEG Thai International Co., Ltd would continue project financing through China Pingan Bank with a THB 13.3 billion loan and would finish the project on schedule. The loan from China Pingan Bank was to be managed through Landmark Holdings Company Limited. The China Eximbank loan is separate from the 13.3 billion baht loan issued by China Pingan Bank also for the construction of the Chao Phraya Estate in 2016 (captured in Project ID#73300).
Beijing Construction Engineering Group International (BCEGI) reportedly holds a 30% ownership stake in Landmark Holdings Company Limited (through its subsidiary, BCEG Thai International Co., Ltd).

📚 Sources & References

中泰将共建湄南河新地标
Country Group Development Signs THB 11.6 billion Financial Framework Agreement with China EXIM Bank for Landmark Waterfront Project
泰康蒂集团与中国进出口银行签约合作项目在曼谷奠基
Country Group
China Exim Bank ink framework financing pact for Landmark Waterfront, 2014 Annual Report
COUNTRY GROUP DEVELOPMENT AND JOINT VENTURE PARTNER BCEG ANNOUNCE PROJECT FINANCING THROUGH CHINA PING AN BANK FOR CHAO PHRAYA ESTATE
COUNTRY GROUP DEVELOPMENT PARTNERS CAPELLA HOTEL GROUP TO LAUNCH ICONIC NEW HOTEL IN BANGKOK’S LANDMARK WATERFRONT DEVELOPMENT
THE CHAO PHRAYA ESTATE
Annual Report Country Group Development 2016
CREATING A LEGEND
FOUR SEASONS PRIVATE RESIDENCES
Annual Report 2018, โฟรซีซั่นสโฮเทลสแอนดรีสอรทสประทับใจความคืบหนาการกอสราง “โครงการเจาพระยา เอสเตท” แลนดมารคแหงใหมของโฟรซีซั่นสริมแมน้ําเจาพระยา
Country Group Development Hosts Topping-Off Ceremony for Four Seasons Private Residences Bangkok Loan applications and disbursements are still being received and processed as the projects continue to evolve. Ongoing monitoring and evaluation are in place to ensure project continuity.

All Grantees

Landmark Holdings Company Limited

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