Hong Kong-based conglomerate Swire Pacific plans to open its first Upper House hotel in Bangkok, marking the brand’s debut in Thailand, alongside its first branded residence project worth 30-40 billion baht on Wireless Road.
Toby Smith, deputy chairman of Swire Hotels, a subsidiary of Swire Pacific, said the group is expanding its Upper House hotel brand globally, expanding from its presence in Hong Kong and mainland China.
“We are exploring potential sites in Bangkok, either in the central business district or along the Chao Phraya River, for our first Upper House hotel in Thailand and the brand’s inaugural property in Southeast Asia,” he said.
The group operates three Upper House hotels in Hong Kong, Chengdu and Shanghai. The latter two were recently rebranded from The Temple House and The Middle House to Upper House to create a unified global brand identity.
The group plans to open three new Upper House hotels in Shenzhen in 2027, Xi’an in 2028 and Tokyo in 2029, as well as one in Australia, which will also feature a branded residence, the second after Bangkok.
“Upper House Bangkok is expected to be completed by 2030 — the same year we plan to finish our two ultra-luxury condo projects on Wireless Road, which includes our first Upper House branded residence,” said Mr Smith.
RARE FREEHOLD
Upper House Residences Bangkok with 156 units and The Wireless Residences by Upper House with 239 units are being developed by City Dynamic Co, established in 2023 with registered capital of 1.65 billion baht.
City Dynamic is a joint venture between City Realty, the property arm of Chali Sophonpanich, holding 60%, and Swire Properties, a subsidiary of Swire Pacific, holding 40%.
Both projects are located on a 7.9-rai plot on Wireless Road opposite Lumpini Park near the Wireless-Sarasin junction, a site City Realty has owned for more than 40 years, said Casey Au, co-managing director of City Dynamic.
The branded residence will target affluent buyers seeking privacy and long-term legacy assets, while the second project will cater to younger generations looking for luxury and connectivity, he said.
“We expect strong demand from Thai buyers, accounting for around 60%, as both developments are freehold projects on Wireless Road, where most existing supply is leasehold,” Mr Au said.
The remaining 40% targets foreign buyers, particularly from Hong Kong, where interest in Thai properties has been strong, along with the Chinese market, home to a growing number of wealthy individuals, he said.
“We also plan to introduce our residential projects to Upper House members, which number around 400 and are all by invitation only,” said Mr Smith. “Most members are from Hong Kong and China, with 6-7 from Thailand.”
The largest units, comprising penthouses on the top floors, range from 700-800 square metres, offering 360-degree views and duplex layouts. While prices have yet to be finalised, he said luxury leasehold properties around Lumpini Park are priced from 400,000 to 500,000 baht per sq m, with freehold units expected to be at least 30% higher. Sales are scheduled for mid-2026 once the show units are completed.