IHG Hotels & Resorts announced the signing of InterContinental Residences Bangkok Asoke, its first standalone branded residences property under the InterContinental brand. The project is scheduled for completion in 2029 and will include 88 residential units located in Bangkok’s Asoke neighborhood.
IHG is developing the property in partnership with CG Capital, a subsidiary of Central Group. The project marks the brand’s entry into the standalone branded residential market.
“This is a momentous signing for IHG, introducing our world-renowned InterContinental brand into both the global standalone branded residential market, and the branded residential space in Bangkok. Through it, we’re continuing to establish our business as a diversified player in the region and around the world, where we’re seeking, and seizing, new growth opportunities. Thailand is the leading destination for branded residential projects across Asia Pacific – accounting for 23% of existing activity, ahead of China’s 17%. The market is growing in size and positioning, and we’re delighted to partner with CG Capital to turn our shared vision for this outstanding property into reality. It will add to the portfolio of InterContinental branded residences in the region, including those in Phu Quoc and Halong Bay, Vietnam, and Hua Hin, Thailand,” said Rajit Sukumaran, SVP & managing director, East Asia & Pacific (EAPAC), IHG Hotels & Resorts.
InterContinental Residences Bangkok Asoke will be located on Soi Sukhumvit 16 in Bangkok’s Central Business District, near office buildings, shopping centers, restaurants and bars. The property will include two, three and four-bedroom units ranging from about 139 to 547 square meters. Amenities will include a 25-meter swimming pool, hot and cold plunge pool, fitness center, pilates and yoga studio, private function room, co-working space, meeting rooms, game room, art room and residents’ lounge.
“We are delighted to collaborate with IHG for our standalone residential project in the heart of Sukhumvit – one of Bangkok’s most serene residential neighbourhoods, renowned for its premier lifestyle destinations, fine dining, and vibrant nightlife. InterContinental Residences Bangkok Asoke will provide a fantastic opportunity to buy residential units on a freehold basis in a superb location. As experts in retail and real estate development, finding the right partner for a project is always key to its success, and it is a pleasure to collaborate with IHG on InterContinental Residences Bangkok Asoke with more exciting developments to be announced soon,” said Khun Phoom Chirathivat, managing partner & co-head, CG Capital.
IHG currently has over 30 branded residential developments open or selling globally. The InterContinental brand operates 51 hotels across East Asia and the Pacific, including eight in Thailand, and has 22 properties in its regional pipeline. Globally, the brand has 231 hotels in 70 countries and 105 properties in development.
