The Magnolias Waterfront Residences at IconSiam comprises two towers, 52 and 70 stories respectively with a total of 379 units + 146 units. The 70-storey tower comprises 379 units and the 52-storey tower comprises 146 units. The residential project is part of IconSiam, a very large 50 Billion Baht joint venture project between Magnolia Quality Development Corporation Limited, Siam Piwat Company Limited and Charoen Pokphand Group. The IconSiam project comprises two shopping complexes covering 525.000 square metres, two luxury condominium buildings, a riverside event plaza covering about 10.000 square metres and seven other attractions that will be known as The Seven Wonders at IconSiam.
• IconSiam and The Magnolias Waterfront Residences on FACEBOOK
Takashimaya at ICONSIAM will be ICON SIAM’s anchor department store.
The condominiums account for 12 Billion Baht, the retail complexes account for 28 Billion Baht and The Seven Wonders of The World account for 10 Billion baht.
The architectural company responsible for designing Magnolias Waterfront Residences is Foster + Partners.
The following unit configurations are available:
• There will be no studio units
• 203 one-bedroom units varying from 60 – 79 sqm
• 107 two-bedrooms units varying from 95 – 126 sqm
• 61 three-bedrooms units varying from 144 – 222 sqm
• 8 duplex units at 346 sqm
Prices from 12 – 125 million baht or 230.000 – 360.000 baht per square meter.
The main contractor for The Magnolias Waterfront Residences at Iconsiam is Italian-Thai. It is always important to know who the main contractor is. The value of the contract is about 2.4 billion baht.
Italian-Thai is building Magnolias Waterfront Residences and The Residences at Mandarin Oriental Bangkok while Thai Obayashi is building the IconSiam Mall. This comes as no surprise as the anchor tenant or anchor department store at IconSiam will be Takashimaya at ICONSIAM. A Japanese contractor and a Japanese department store, we had a feeling it woulld end up like that. Thai Obayashi is currently building Sindhorn-Residence.
This is considered the country’s largest investment by private investors. IconSiam is located on Charoen Nakhon Road right next to Millennium Hilton Hotel and within walking distance of The River Condominium, however the distance to the nearest BTS Krung Thonburi station is too far to walk for most people.
Charoen Phokpand Group is one of the largest companies in Thailand and Siam Piwat is one of the leading developers of luxury malls in Thailand, including Siam Centre, Siam Discovery and Siam Paragon that by the way is a joint venture between Siam Piwat and The Mall Group.
Magnolia Quality Development Corporation Limited is owned by a member of the Chearavanont family that owns C.P. Group.
They say this is a new project but this is not entirely true, however the name IconSiam is new. Grand River Place was the old name for this project which was supposed to include a 95-storey building that were to become Bangkok’s tallest building, surpassing MahaNakhon’s 77 stories. After all it seems that MahaNakhon will become the tallest building in Bangkok, at least as far as the immediate future is concerned.
The developers hope to change the axis of activity within Bangkok. Nobody knows the future, let’s see what happens.
IconSiam is scheduled for completion in late 2017.
Published 3 July 2014
The photos were taken 16 July 2014
The photos were taken 27 April 2016