BRESI OVERVIEW: CG Capital announce standalone branded residences development, InterContinental Residences Bangkok Asoke
IHG Brand Expansion: IHG Hotels & Resorts has signed its first standalone branded residences project under the InterContinental brand with InterContinental Residences Bangkok Asoke, marking a milestone in the luxury hotel company’s branded residences global growth strategy.
Prime Bangkok Location: InterContinental Residences Bangkok Asoke will feature 88 luxury branded residences in the heart of Thailand’s capital, situated in the sought-after Asoke neighbourhood within the Central Business District.
Strategic Experienced Partnership: IHG is collaborating with CG Capital, a subsidiary of Central Group, one of Thailand’s largest real estate and retail conglomerates, will develop this luxurious standalone branded residences development, scheduled for completion in 2029. This is the company’s second project, following the success of The Standard Residence Phuket Bangtao
Luxury Branded Living Spaces: The development will offer two, three, and four-bedroom branded homes ranging from 139 to 547 square metres, complemented by premium amenities including a 25-metre pool, fitness centre, pilates studio, co-working spaces, and residents’ lounge.
Growing Portfolio: This project adds to IHG’s expanding branded residential portfolio of over 30 developments worldwide, while InterContinental maintains a strong regional presence with 51 hotels across Asia-Pacific and 231 properties globally.
InterContinental Residences Bangkok Asoke
IHG Hotels & Resorts (IHG), one of the world’s leading hotel companies, is accelerating its global growth with another milestone signing – the first standalone branded residences property for its acclaimed InterContinental brand.
InterContinental Residences Bangkok Asoke is scheduled for completion in 2029, offering buyers a choice of 88 luxury residential units to call home in a new-build architectural masterpiece situated in the heart of Thailand’s capital city.
IHG is working together with private investment fund CG Capital, a subsidiary of Central Group – one of the largest real estate and retail conglomerates in the country, on this exciting development.
This landmark collaboration marks the global entry of InterContinental in the standalone branded residential market1.
It’s another significant moment for the world’s first and largest luxury hotel brand, which is developing iconic residences synonymous with cultural discovery, inspired by an unrivalled knowledge of the world, as it reimagines the travel experience for the modern luxury traveller.
Rajit Sukumaran, SVP & Managing Director, East Asia & Pacific (EAPAC), IHG Hotels & Resorts, said: “This is a momentous signing for IHG, introducing our world-renowned InterContinental brand into both the global standalone branded residential market, and the branded residential space in Bangkok. Through it, we’re continuing to establish our business as a diversified player in the region and around the world, where we’re seeking, and seizing, new growth opportunities.
“Thailand is the leading destination for branded residential projects across Asia Pacific – accounting for 23% of existing activity, ahead of China’s 17%2. The market is growing in size and positioning, and we’re delighted to partner with CG Capital to turn our shared vision for this outstanding property into reality. It will add to the portfolio of InterContinental branded residences in the region, including those in Phu Quoc and Halong Bay, Vietnam, and Hua Hin, Thailand.”
Situated on Soi Sukhumvit 16 in the Asoke neighbourhood, InterContinental Residences Bangkok Asoke will open in one of the most sought-after locations for luxury living within Bangkok’s Central Business District, among Grade-A office buildings, luxury shopping malls, upscale restaurants and bars.
InterContinental Residences Bangkok Asoke – World Class Branded Residences
The property will feature a selection of two, three and four-bedroom units ranging from approximately 139 to 547 square metres, as well as facilities including a 25-metre swimming pool, hot and cold plunge pool, fully equipped fitness centre, pilates and yoga studio, private function room with full pantry, co-working space, meeting rooms, game room, art room and residents’ lounge.
24-hour concierge services, staffed by InterContinental standards, ensure a superior living experience every day. Completion is expected in the second quarter of 2029.
This freehold branded residence project aligns with CG Capital’s strategy to create a world-class development for a world-class city for global citizens, driving the ultra-luxury real estate market.
This 5.5 billion baht (approximately $170.5 million USD) project will target both Thais familiar with the Sukhumvit area and international expatriates.
Khun Phoom Chirathivat, Managing Partner & Co-Head, CG Capital, commented: “We are delighted to collaborate with IHG for our standalone residential project in the heart of Sukhumvit – one of Bangkok’s most serene residential neighbourhoods, renowned for its premier lifestyle destinations, fine dining, and vibrant nightlife. InterContinental Residences Bangkok Asoke will provide a fantastic opportunity to buy residential units on a freehold basis in a superb location.
“As experts in retail and real estate development, finding the right partner for a project is always key to its success, and it is a pleasure to collaborate with IHG on InterContinental Residences Bangkok Asoke with more exciting developments to be announced soon.”
InterContinental Residences Bangkok Asoke adds to IHG’s growing momentum in the branded residential market, where it has over 30 developments that are already open or selling properties in the world’s most sought-after urban and resort destinations.
IHG’s world-famous InterContinental brand has 51 hotels across EAPAC, including eight in Thailand across Bangkok, Pattaya, Hua Hin, Koh Samui, Phuket, Khao Yai and Chiang Mai. The brand has 22 properties in its regional pipeline including three in Thailand. Globally, there are 231 InterContinental hotels in 70 countries, and 105 pipeline properties.
About CG Capital
CG Capital Advisory Co., Ltd. is a private equity fund with an initial fund value of 300 million US dollars (approximately 10 billion baht). It invests in the hotel, tourism, and real estate businesses in both greenfield, brownfield, and turnaround formats, covering hotels, condominiums, theme parks, water parks, and mixed-use.
CG Capital is the fund management arm of Central Group, one of Thailand’s leading business groups engaged in retail, property development and hospitality. As a 6-decade-old family business, our goal is to provide long-term, sustainable financial returns for our investors, while building lasting and meaningful positive-sum relationship
It invests primarily in tourist cities in Thailand, focusing on Bangkok, Phuket, Samui, and Pattaya. It expects to have 2-3 projects per year.
Phoom Chirathivat is the Managing Partner and Co-Head of CG Capital. He has over 10 years of experience in private equity, and real estate investment and development in Thailand and Southeast Asia.
In addition to his role at CG Capital, Mr. Chirathivat serves as the Head of Hotels and Alternative Investments at Central Pattana Plc, Thailand’s largest mixed-use developer with over 40 projects nation-wide.
Recognised for leading the company’s diversification into new asset classes, he plays a key role in building Central Pattana’s portfolio of hotels, as well as investing in data centers and venture capital. Visit CG Capital
*Figures as of 30 June 2025
1Refers to properties not attached to a hotel
2JLL report, published June 2024
