Bangkok--27 May--SET
The Stock Exchange of Thailand (SET) has selected the American International Assurance Co., Ltd. (AIA) to develop 9.66-rai (1.55 hectares) of its Capital Market Center (CMC), Ratchadaphisek-Thailand Cultural Center area, Bangkok, with a five-year development period.
“The SET board agreed that AIA’s purchase proposal met with SET’s Terms of Reference and objectives, while the proposed development plan complied with the CMC’s purpose and master plan. The board also saw AIA as a long-established company with the necessary potential, readiness, financial strength, and experience in property development and property management in Thailand and overseas. In addition, AIA has managed its projects with social and environmental responsibility,” said SET President Patareeya Benjapolchai.
The CMC will be Thailand’s first and only financial and investment innovation hub, similar to international financial centers in many countries. The CMC is in line with Thailand's Capital Market Development Plan and will increase SET’s sustainable competitiveness. The CMC will occupy a total 14.9 rai (2.38 hectares), divided into two parts: SET's head office, covering 5.24 rai (0.83 hectares), and the area above, which was announced for alliances on February 11, 2010, and opened for auction on March 24, 2010.
SET’s CMC head office will support business expansion and will as be a venue for activities about finance, investment, and education held by SET and capital market alliance partners. In addition, the Center will be a landmark for the city, filled with arts and advanced technology, with a stable and secure environment. With energy-efficient design and construction, the Center will be socially and environmentally friendly. Thus, it will support the growth and enhance the competitiveness of the Thai capital market in the world arena.
For more information, please contact S-E-T Call Center 0 2229 2222