Bangkok’s Samyan Mitrtown celebrates 5 years of success

At a press conference on Friday, Thanapol Sirithanachai, FPT’s country CEO, announced that Samyan Mitrtown has reached its breakeven point and is now generating about 1 billion baht in annual rental income. This accounts for 10-15% of FPT’s total revenue.

The project’s success is reflected in its impressive occupancy rate. Office spaces boast a 98% occupancy rate, while retail spaces are at 97%, surpassing the average for Grade A office buildings in Bangkok by 14.8%.

The Triple Y Hotel within the complex boasts an occupancy rate of more than 90%, while the Triple Y Residence long-term leasehold condominium sold out completely in 2022. Resale prices for residential units have seen a remarkable increase of more than 20% from the initial offering, reaching 160,000 baht per square metre.

Over the past five years, Samyan Mitrtown has become a vibrant hub of activity in Bangkok, welcoming over 120 million visitors and attracting a daily footfall of up to 80,000 people. The Samyan Mitrtown Hall has hosted more than 500 events and conferences, catering to a diverse range of industries.
 

FPT attributes its success to three key strategies:

• Mitr-ting Place Concept: This blends the Samyan community culture with urban living to create unique experiences. The concept is reflected in themed areas, such as the "Urban Life Library", "Intelligent Office Tower" and "Neo Explorer Living Platform.".
• Mitr Mindset: This strategy focuses on offering diverse services that cater to new generation lifestyles. It includes 24-hour service areas like the free learning space, C-ASEAN Samyan Co-op, which boasts over 180,000 members and an average of 1,500 daily users.
• The Mitr Ecosystem: This approach involves a balanced allocation of approximately 30% for each project component, creating a truly mixed-use development.

FPT prioritised community integration and public benefits when designing Samyan Mitrtown, the CEO said. The MITR Direct Link tunnel connects the Samyan MRT station directly to the project. The company has also improved the landscape and pedestrian facilities on Phya Thai Road, providing green spaces on the fifth floor that are open to all users.

Despite challenges in the residential real-estate sector, FPT remains optimistic about its mixed-use development strategy. The company continues focusing on creating smart and friendly spaces that adapt to market challenges and meet the evolving needs of all user groups.

“We believe Samyan Mitrtown will continue being a top mixed-use development in the country and a friendly space for the new generation, whose lifestyles favour food and knowledge. This aligns perfectly with our company's purpose of ‘inspiring experiences, creating places for good’,” Thanapol said.