A long-neglected, crumbling landmark along the mighty Chao Phraya River may finally be getting some attention.
Plans to remake Bangkok’s Old Customs House, a stunning vestige of 19th-century architecture, into a luxury hotel have gotten a jolt after stalling out for 14 years.
That’s how long it’s been since the Treasury Department first approved ambitious plans by a developer called Natural Park to develop the historic property, which sits next to the French Embassy in the Bang Rak district in the shadow of the Oriental Hotel.
After some prodding, Natural Park successor’s, U City, has just signed a contract with the Finance Ministry to spend THB 3 billion – plus another 1.6 billion in rental fees to Treasury – for a 30-year lease, according to Bangkok Business News.
Plans call for turning the landmark into 15,900sqm of upscale hotel with 100 rooms, including construction of a new building, with a goal of opening in 2025.
Built in 1888, the building was Bangkok’s first customs house. It was designed by Italian architect Joachim Grassi, who also built Wat Niwet Thammaprawat and the Bang Pa-in Royal Palace in Ayutthaya.
It came during a time of modernization under King Chulalongkorn, when many public buildings were built to Western styles. It was a gateway to the capital and served as the customs house for 60 years until those operations moved to the Khlong Toei Port in 1949.
After years of neglect, the Chao Phraya waterfront today is undergoing massive and sometimes controversial redevelopment.
“The opening of a super luxury shopping mall like IconSiam and the nostalgia travel trend are shaping tourism trends along the river,” U City CEO Piyaporn Phanachet said.
U City is owned by BTS founder and CEO Keeree Kanjanapas, who set to turning things around since its stock value evaporated early last year. It owns a number of hotels including U Chiang Mai Hotel and U Sathorn Bangkok. Two years ago, it acquired several dozen more properties when it bought hotel operator Vienna House.
It’s had junk stock status since early 2018 with shares trading for about THB2.
