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Central Pattana Plc, the real estate flagship of the Central Group, is negotiating to acquire a major stake in debt-ridden World Trade Centre Co, the company responsible for building the World Trade Centre Tower. WTC Co faces a number of lawsuits from creditors, including a Bt6-billion suit for alleged breach of contract by the Crown Property Bureau.

Foreign investors have also been invited by Wang Tejapaibul, original developer to form a joint venture in both equity and management of the World Trade Centre shopping complex and tower. The partial acquisition deal by Central could see a further Bt4 Billion of investment injected into the project.

Economic crisis has forced the World Trade Tower project to stopped construction in late 1998. Unfinished at 63-floor the tower has become a well known eyesore in downtown BKK. Only 41 floors of of the tower been completed, with current asset is worth around Bt4 billion ($US90million), based on the project's economic potential. WTC Co's lawyer have declined to give out further details relating to the acquisition deal.

FROM THE NATION -7 AUG 01
Article sent in by Ron from 2Bangkok

DESIGNED by Ongard Satrabhandu of D103 and Arun Chaiseri Consulting Engineers, this is definitely one of the most talked about buildings in Bangkok today. Structurally it is three separate towers (32 storey) joined together via an 8 storey high bridge. Because of site constraint, the development was originally planned as three separate towers, until the architect decided to connect the structures at the top, to maximise floor area and creating a unique and recognizable profile. The client then suggested the "M" shape could be transformed into the abstract form of an elephant, complete with two round windows for "eyes", symbolic ears, and forward protrusions for tusks (all of which are usable floor area). The architect says he would have preferred a more abstract elephant form'.

A proven market success, ET has, since its completion in '98, attracts nearly full occupancy for its office space. All condominium units were sold out, although the building's retail zone is still struggling to find new tenants. The building's net floor area is 77290sqm (832,000sq ft).

SOURCE: Architecture Records (Nov'97); Jones Lang Lasalle (Thailand) (2000)
MORE INFO : Elephant Tower Web

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