Bangkok--5 Oct--Bangkok Bank
Bangkok Bank is lending Baht 930 million to SPT Management, the operator of The Platinum Fashion Mall Group, to develop ‘The Novotel Bangkok Platinum Hotel’, a 28-storey four-star hotel project with 289 rooms and 5-storey wholesale shopping centre with 500 shops, total space 40,000 sq. m. at Pratunam intersection. The value of the project is more over Baht 2.4 billion.
Bangkok Bank Senior Executive Vice President and Head of Corporate Banking, Chansak Fuangfu, said Bangkok Bank has approved Baht 930 million in project loans to SPT Management Company, the operator of The Platinum Fashion Mall Group, to construct ‘The Novotel Bangkok Platinum Hotel’, a 28-storey four-star hotel featuring 289 rooms and 5-storey retail and wholesale centre with 500 shops, total space 40,000 sq. m. The project at Pratunam intersection, continue with The Platinum Fashion Mall wholesale shopping center, has a total value more over of Baht 2.4 billion.
The Novotel Bangkok Platinum Hotel will be managed by two leading property developers. Accor Asia Pacific Hotel, a world-leading hotel chain, will manage the hotel business and plan to opening in 2011. The Platinum Fashion Mall Group will manage the wholesale shopping area and plan to opening in the end of 2010. This is The Platinum Fashion Mall Group’s second project. The Group is committed to continually developing property projects and is researching and gathering information for new mega projects.
“Bangkok Bank has confidence in the strength of Platinum Fashion Mall Group and the potential of the project. We’re glad to be able to contribute to the project’s success by providing financial support”, Mr. Chansak concluded.