AWC Heritage
FROM TCC GROUP TO ASSET WORLD CORPORATION
TCC Group was established by Mr. Charoen Sirivadhanabhakdi and Khunying Wanna Sirivadhanabhakdi in 1960. Through gradual, continuous expansion and improvement, the enterprise evolved into the dynamic group it is today. There are five divisions within TCC Group: beverages, retail, finance & insurance, agri-industry and real estate.
The real estate division began by investing in land. Out of this, in 1994, came Imperial Hotel Group and a joint venture with Capital Land Co., Ltd. in 2003. The operation transformed into a full-fledged real estate enterprise named TCC Land Group. Today the burgeoning operation is branded “ASSET WORLD CORPORATION” or AWC, comprising a comprehensive, constantly growing, all-in-one real estate enterprise group that implements the vision of Mr. Charoen and Khunying Wanna Sirivadhanabhakdi with utmost effectiveness. AWC, effectively manages acquisitions of real estate properties and transitions the company to a fully integrated real estate group owning a diverse portfolio of projects in strategic locations. In 2012, the company launched Asiatique The Riverfront Destination, an integrated lifestyle-based tourism center located on the Chao Phraya River which quickly became a popular destination among Thais and international visitors.
In May 2009, TCC Group established Asset World Corp PCL (formerly First Destination Company limited) as an investment holding and real estate company to effectively manage acquisitions of real estate properties and transition the company to a fully integrated real estate group owning a diverse portfolio of projects in strategic locations. In 2012, the company launched Asiatique The Riverfront Destination, an integrated lifestyle-based tourism center located on the Chao Phraya River which quickly became a popular destination among Thais and international visitors.
Going Public
In September 2018, Asset World Corp PCL was registered as a public company. In April 2019, the company increased its authorized capital from 24 billion to 32 billion baht allocating newly issued ordinary shares for the public to purchase for the first time via an initial public offering worth over 48,000 million baht, making it the largest real estate IPO in the world and the largest IPO ever traded in five years on the SET at the time.
On 10 October 2019, Asset World Corp PCL was listed on the Stock Exchange of Thailand (SET) in Property and construction groups (PROPCON) under the ticker symbol ‘AWC’.
Solid Growth
As a holding company, Asset World Corp PCL invests in two major business segments: 1) Hospitality under TCC Hotel Asset Management Company Limited (THAM), and 2) Retail & Commercial Buildings under Asset World Retail Company Limited (AWR) and Commercial Property Management Company Limited (CPM).
HISTORY AND DEVELOPMENT OF THE COMPANY
1976
TCC Group established.
1994
TCC Group acquired the Imperial Hotels Group, which owns seven hotels and land, including five hotels.
1996
TCC Group acquired Empire Tower.
2001
TCC Group acquired Pantip Plaza Pratunam.
Plaza Athenee Bangkok opened.
2008
Athenee Tower opened.
2010
Banyan Tree Samui opened.
2012
Asiatique the Riverfront Destination opened.
2013
Vana Belle, a Luxury Collection Resort, Koh Samui, Hilton Sukhumvit Bangkok, Double Tree by Hilton Sukhumvit Bangkok, and Vana Belle a Luxury Collection Resort Koh Samui opened.
2016
25 October 2016
First Destination Co., Ltd. becomes Asset World Corp Company Limited.
First Destination Co., Ltd. becomes Asset World Corp Company Limited.
Bangkok Marriott Marquis Queen’s Park opened (formerly the Imperial Hotel).
Hua Hin Marriott Resort & Spa and Phuket Marriott Resort & Spa, Nai Yang Beach opened.
Hua Hin Marriott Resort & Spa and Phuket Marriott Resort & Spa, Nai Yang Beach opened.
2017
Plaza Athenee Bangkok Hotel was renovated into The Athenee Hotel, a Luxury Collection Hotel, Bangkok.
9 May 2017
Registered capital increased from THB 4.43 million to THB 9 billion to acquire Asset World Retail Company Limited (AWR), TCC Hotel Asset Management Company Limited (THAM), and Commercial Property Management Company Limited (CPM); to provide loans to AWC subsidiaries.
Registered capital increased from THB 4.43 million to THB 9 billion to acquire Asset World Retail Company Limited (AWR), TCC Hotel Asset Management Company Limited (THAM), and Commercial Property Management Company Limited (CPM); to provide loans to AWC subsidiaries.
19 May 2017
Asset Group 1 is acquired through THAM, AWR and CPM, from the Thai Hotel Investment Freehold and Leasehold Property Fund (THIF), Thai Retail Investment Property Fund (TRIF), and Thai Commercial Investment Freehold and Leasehold Fund (TCIF).
Asset Group 1 is acquired through THAM, AWR and CPM, from the Thai Hotel Investment Freehold and Leasehold Property Fund (THIF), Thai Retail Investment Property Fund (TRIF), and Thai Commercial Investment Freehold and Leasehold Fund (TCIF).
2018
Bangkok Marriott Hotel The Surawongse opened.
Lasalle's Avenue opened.
Gateway at Bangsue opened.
14 August 2018
Registered capital increased from THB 9 billion to THB 24 billion.
Registered capital increased from THB 9 billion to THB 24 billion.
18 September 2018
Asset World Corp PCL went public.
Asset World Corp PCL went public.
18 December 2018
Asset Group 2 acquired through THAM and AWR from members of TCC Group as part of the business restructuring.
Asset Group 2 acquired through THAM and AWR from members of TCC Group as part of the business restructuring.
2019
February 2019
AWR acquired 75% of Wanna Charoenkij Company resulting in 100% ownership. AWR and AWC acquire full ownership of Asset World Trading Company Limited which operates AEC Trade Center Online, an online commerce platform.
AWR acquired 75% of Wanna Charoenkij Company resulting in 100% ownership. AWR and AWC acquire full ownership of Asset World Trading Company Limited which operates AEC Trade Center Online, an online commerce platform.
March 2019
A share purchase agreement is made, through THAM and AWR, to acquire Asset Group 3 from members of TCC Group.
A share purchase agreement is made, through THAM and AWR, to acquire Asset Group 3 from members of TCC Group.
April 2019
Gateway Ekamai Management Agreement was signed by AWR to manage Gateway Ekamai, a retail property owned by TCC Group. The second Annual General Meeting of Shareholders on April 30 approved the capitalization and allocation of newly issued ordinary shares as follows:
Gateway Ekamai Management Agreement was signed by AWR to manage Gateway Ekamai, a retail property owned by TCC Group. The second Annual General Meeting of Shareholders on April 30 approved the capitalization and allocation of newly issued ordinary shares as follows:
- Increase in registered capital of THB 8,000 million totaling THB 32,000 million.
- Newly issued ordinary shares not exceeding 6,957 million shares with a THB 1 par value offered to the general public for purchase for the first time.
- Over-allotment not exceeding 1,043 million ordinary shares with a THB 1 par value not exceeding 15% of newly issued ordinary shares offered to the over-allotment agent.
May 2019
MOU signed with Thippatana Arcade Co., Ltd. and Asiatic Hotel Collection Co., Ltd. to invest in Gateway Ekamai and the extension of Asiatique The Riverfront Destination.
MOU signed with Thippatana Arcade Co., Ltd. and Asiatic Hotel Collection Co., Ltd. to invest in Gateway Ekamai and the extension of Asiatique The Riverfront Destination.
10 October 2019
AWC was successfully listed on the Stock Exchange of Thailand (SET) under the property development category. A total of eight billion shares priced at 6 baht per share consisting of 6,957 million newly issued ordinary shares and an over-allotment option of 1,043 million shares.
AWC was successfully listed on the Stock Exchange of Thailand (SET) under the property development category. A total of eight billion shares priced at 6 baht per share consisting of 6,957 million newly issued ordinary shares and an over-allotment option of 1,043 million shares.
2020
January 2020
Acquisition of Group 3 assets, through THAM and AWR.
Acquisition of Group 3 assets, through THAM and AWR.
Meliá Koh Samui, Thailand (formerly the Imperial Boat House Beach Resort) opened.
MOU signed with Intercontinental Hotels Group (IHG) on the development of over 1,200 rooms.
August 2020
The Gallery under AWC are certified with terms and conditions from Amazing Thailand’s Safety and Health Administration (SHA).
The Gallery under AWC are certified with terms and conditions from Amazing Thailand’s Safety and Health Administration (SHA).
Key MOU signed with Marriott International on developing world-class hotels by bringing together three upscale hotel brands under 'Ritz-Carlton Reserve' brand (JW Marriott Hotel, Asiatique Bangkok, and Autograph Collection), to the Chao Phraya River and Pattaya beach.
October 2020
Asiatique The Riverfront Destination returns under the ‘Heritage Alive’ concept, together with the launch of the Sirimahannop Tall Ship, a new landmark on the Chao Phraya River.
Asiatique The Riverfront Destination returns under the ‘Heritage Alive’ concept, together with the launch of the Sirimahannop Tall Ship, a new landmark on the Chao Phraya River.
Banyan Tree Krabi Hotel, a new and exceptional destination opened on Tubkaek beach.
AWC received green loan (about US$ 144 million) by the World Bank Group's International Finance Corporation (IFC).
The first 'green loan' issued to a real estate company in Thailand.
The first 'green loan' issued to a real estate company in Thailand.
November 2020
MOU signed with Huawei to develop a “Smart Living” platform as part of a pilot ecosystem.
MOU signed with Huawei to develop a “Smart Living” platform as part of a pilot ecosystem.
AEC Trade Center - Pantip Wholesale Destination, Thailand’s first fully integrated wholesale trade center, opened in the heart of Bangkok, in a partnership with the Department of International Trade Promotion (DITP), Thai Chamber of Commerce and Board of Trade of Thailand, The Federation of Thai Industries, 11 trade associations, and major partner ‘Yiwu’ (“Yiwu Selection) to expand business opportunities and sales channels by accessing new customers in both domestic and foreign markets.
2021
March 2021
Signs contracts with Hyatt brands to develop and manage new hotels throughout Thailand
Signs contracts with Hyatt brands to develop and manage new hotels throughout Thailand
Mrs. Wallapa Traisorat has been honored ‘Person of the Year 2021’ along with the ‘Best Practice Awards 2021’ in the Property Development and Management Category from The Foundation for Thai Society
April 2021
AWC continues promoting AEC TRADE CENTER - PANTIP WHOLESALE DESTINATION, the region’s wholesale trade center with integrated services in the heart of Bangkok, debuting FOOD DESTINATION CENTER campaign under BEYOND EXHIBITION concept
AWC continues promoting AEC TRADE CENTER - PANTIP WHOLESALE DESTINATION, the region’s wholesale trade center with integrated services in the heart of Bangkok, debuting FOOD DESTINATION CENTER campaign under BEYOND EXHIBITION concept
Department of Business Development, along with AWC, promoted Thai entrepreneurs and farmers to compete in global markets
MOU signed with Marriott International for the Pattaya Marriott Resort & Spa at Jomtien Beach, a new world-class hotel
May 2021
Launched the vaccination unit at Asiatique alongside joining forces to donate 5,500 goody bags to local communities affected by COVID-19 valued at more than THB 8 Millions
Launched the vaccination unit at Asiatique alongside joining forces to donate 5,500 goody bags to local communities affected by COVID-19 valued at more than THB 8 Millions
June 2021
MOU signed with Intercontinental Hotel Group on the development of five Bangkok and Pattaya properties more than 1,200 rooms
MOU signed with Intercontinental Hotel Group on the development of five Bangkok and Pattaya properties more than 1,200 rooms
Joins hands with Nobu Hospitality to launch the first of Nobu Restaurants in the country on the Rooftop of Empire Tower
August 2021
AWC Together for Thais Community Osolation Center for patients in the green group in Ayutthaya to alleviate bed shortages
AWC Together for Thais Community Osolation Center for patients in the green group in Ayutthaya to alleviate bed shortages
Celebrating the occasion with our business partners in announcing the launch of the latest brand, 'The Vignette Collection', under the InterContinental Hotels Group, with plans on launching in Thailand and Australia as the first destinations.
October 2021
AWC Marks 2nd Year on the Stock Exchange of Thailand, Affirms “Building a Better Future” Strategy
AWC Marks 2nd Year on the Stock Exchange of Thailand, Affirms “Building a Better Future” Strategy
AWC reinforces the commitment to Building A Better Future by being listed in the Thailand Sustainability Investment 2021 (THSI) alongside being certified by the Collective Action Against Corruption in 2021 (CAC)
November 2021
Courtyard by Marriott Phuket Town (formerly The Metropole Hotel Phuket) opened.
Courtyard by Marriott Phuket Town (formerly The Metropole Hotel Phuket) opened.
Signs of a lease to rent Lhong 1919, the historic riverside spot, from Wang Lee Company Limited will be invested in building "The Integrated Wellness Destination" by The Ritz-Carlton, aiming to be a landmark of world-class urban sanctuary and wellness.
December 2021
Reopening a newly refurbished and reconceptualized Le Méridien Bangkok and its Rolling Ribs Brew Bar & BBQ restaurant supports Bangkok’s tourism industry and boosts travel at the year’s end.
Reopening a newly refurbished and reconceptualized Le Méridien Bangkok and its Rolling Ribs Brew Bar & BBQ restaurant supports Bangkok’s tourism industry and boosts travel at the year’s end.
AWC invests 435 million Baht to acquire dusitD2 Chiang Mai, joining hands with Dusit Thani to continue the legendary Thai brand and boost tourism in Northern Thailand, welcoming tourists from around the world
Asset World Foundation for Charity joins hands with leading business partners to continue the GIVE GREEN CBD: SYNERGY POWER 2022 project for the 9th consecutive year under the Light of Happiness 2022 concept
2022
14 January 2022 AWC launches The Lhong 1919 Riverside Heritage Destination, a famous historical attraction where visitors are invited to admire and embrace the beauty and value of ancient Chinese architecture.
10 April 2022 AWC continues to expand its hotel portfolio with the launch of Meliá Chiang Mai in a prime location near the Ping River and Night Bazaar under the concept of “CHIANGMAI CHARM”
20 May 2022 AWC signs agreement with IHG to manage Kimpton Hua Hin Resort, responding to family & business travel demands after Thailand reopens
25 May 2022 AWC signs agreement with Xingyun Group to establish AEC Trade Center - Pantip Wholesale Destination as an international trade highway between China and ASEAN regions, establishing a new benchmark for the trade industry in Thailand while offering long-term value to all stakeholders.
1 July 2022 AWC and SCB together set a new benchmark, launching Thailand's first Sustainability Linked Loan for the real estate industry valued at THB 20,000 Million, as part of "Building a Better Future”
4 July 2022 AWC joins KBank to foster an environment-friendly investment through a Green Loan, reaffirming the shared vision of sustainable business
15 July 2022 AWC collaborates with The Walt Disney Company, the world’s leading media and entertainment company, to bring their world class magical experience to Asiatique The Riverfront Destination - a unique tourism hub on the Chao Phraya River, to strengthen tourism for Thailand
26 August 2022 AWC strengthens its long-term partnership with world-renowned Nobu Hospitality with a Exclusive Thailand-Wide Development Agreement to launch the first Nobu Hotel and Nobu restaurant in Thailand, enhancing Bangkok as a global destination
9 September 2022 AWC and SCB join forces to modernize the Thai real estate industry, connecting supply chains to a B2P blockchain procurement platform to boost project development for exponential growth
14 September 2022 AWC signs agreement with Marriott International for The Ritz-Carlton Bangkok, The Riverside to transform the heritage district at The Lhong 1919 and Songwat, enhancing Bangkok as a global luxury destination
10 October 2022 AWC receives the Thailand Sustainability Investment (THSI) Award 2022 for the second consecutive year under the category of Property & Construction from the Stock Exchange of Thailand (SET)
19 October 2022 AWC successfully transfers the Leasehold Rights of “Gateway Ekamai” to enhance cash flow, aiming to offer a retail portfolio with more diversity in response to the new lifestyle
28 October 2022 TAT joins AWC and partners to drive sustainable tourism and enhance Thailand as a Global Sustainable Tourism Destination
18 November 2022 AWC is listed in the S&P Global Sustainability Yearbook 2023 with the score of 73 (out of 100) in the 2023 S&P Global Corporate Sustainability Assessment, achieving a full score in the following criteria: Policy Influence, Tax Strategy, Environmental Reporting, and Social Reporting. These achievements reinforce AWC’s mission in “Building a Better Future”.
25 November 2022 AWC receives 10 Prestigious "Outstanding Building Safety" Awards at the BSA Building Safety Awards 2022, reinforcing the Company’s excellence in Building Safety Management
28 November 2022 AWC joins forces with ‘Ikigai’ and ‘SOS Thailand’ for Food Sustainability and Food Waste Management in the "AWC Alliances for Better Future" project to drive the mission of "Building a Better Future"
9 December 2022 AWC and Accor sign the first strategic multiple-property framework agreement to develop hotels with more than 1,000 room keys, strengthening Thailand as a global tourism destination
26 December 2022 AWC develops Chiang Mai’s Chang Khlan area as Thailand’s leading arts and culture tourism destination, signing sale and purchase agreements for “dusitd2 Chiang Mai”, strengthening its asset portfolio in Northern Thailand in pursuit of this ambition.
2023
25 January 2023 AWC launched “Co-Living Collective: Empower Future” at ‘The Empire’ Leading new benchmark, strengthening Thailand as world-class destination for global workforce.
27 January 2023 AWC Received "Thailand's Top Corporate Brands 2022" for having the highest corporate brand value in Thailand in the real estate development category.
6 February 2023 AWC launched "The Crystal Grill House", a premium steakhouse on the banks of the Chao Phraya River, at "Asiatique The Riverfront Destination".
24 February 2023 AWC signed agreement with Marriott International to launch The Ritz-Carlton Phuket, creating a new benchmark in luxury hospitality on the island.
1 March 2023 AWC signed an agreement with Accor to manage the first Fairmont hotel in Thailand to elevate Bangkok as a global hub for luxury mice market.
13 March 2023 AWC signed a strategic partnership agreement with "Yiwu - CCC Group," to strengthen the new benchmark of the wholesale business sector at AEC Trade Center.
20 March 2023 AWC signed hotel management agreement with IHG for Kimpton Pattaya, as part of the Aquatique to strengthen Pattaya as a global beachfront destination.
24 March 2023 Officially opened ‘Disney100 Village at Asiatique,’ Celebrating Asiatique The Riverfront Destination’s 10th anniversary.
10 April 2023 AWC launched "THE PANTIP LIFESTYLE HUB" to create "EVERY HAPPINESS FOR EVERYONE" space in central Chiang Mai.
11 April 2023 AWC launched "The Siam Tea Room", a traditional and unique Thai restaurant at Asiatique The Riverfront Destination.
19 April 2023 AWC joined forces with public sector and food industry leaders to promote Thailand as the “regional food wholesale hub" at AEC FOOD WHOLESALE PRATUNAM.
15 June 2023 AWC partnered with Nobu Hospitality to launch two iconic Plaza Athénée Hotels in top global destinations New York and Bangkok.
4 July 2023 AWC and SCB sign THB 20,000 million sustainability linked loan.
6 July 2023 AWC partnered with Meliá Hotels International to launch 'INNSiDE by Meliá Bangkok Sukhumvit' - the first of its kind in Thailand.
20 September 2023 AWC partnered with IHG Hotels & Resorts to unveil ‘InterContinental Chiang Mai The Mae Ping’ with unique concept of living museum, highlighting Chiang Mai as a global sustainable tourism destination.
11 October 2023 AWC launched "Kissuisen," with four premium authentic Japanese restaurants at the Bangkok Marriott Hotel The Surawongse.
1 November 2023 AWC launched the ‘Chiang Mai Marriott Hotel’, enhancing Chiang Mai as a center of luxury and MICE hospitality in Thailand.
30 November 2023 AWC and CIMB Thai signed the Bank’s first sustainability-linked loan valued at THB 3,000 million.
8 December 2023 AWC Earns Prestigious DJSI Membership and Secures First Ranking in Its Sector According to S&P Global Assessment.
18 December 2023 AWC Unveiled 'Co-Living Collective: Empower Future' Experience at ‘The Empire’, Setting a New Benchmark in the Commercial Building Industry with Innovative Lifestyle Office Model, Strengthening Thailand as a Premier Workplace Destination.
18 December 2023 AWC Unveiled ‘Café Pittore’ an Italian-style café lobby lounge with an Asian-inspired ambiance. The café offers hotel-level food and beverage services at The Empire.
2024
23 January 2024 AWC Partnered with PTT to Install On-ion EV Charging Stations Across AWC's Affiliated Properties in Key Tourist Destinations in Thailand.
25 January 2024 AWC Maintained Top Position at "Thailand's Top Corporate Brands 2023" with a Corporate Brand Value of THB 58,571 Million.
7 February 2024 AWC Earns World's Top Ranking in Industry, Achieving Number 1 score and Top 1% Placement in S&P Global's The Sustainability Yearbook 2024
5 March 2024 AWC launched 'Cafe de Petal,' a European-Inspired Cafe with a Thai twist, transforming into a charming garland yard lobby lounge at Athenee Tower.
18 March 2024 AWC Unveiled 'Pikul': The Latest Unique Lifestyle Experience App, Under 'FAMILY IN THAILAND FOR ALL' Model, Offering Integrated Happiness Lifestyle Experiences from Around the Country to Strengthen Thailand’s Tourism
28 March 2024 AWC Launched 'Hong’s Chinese Restaurant & Sky Bar' at InterContinental Chiang Mai The Mae Ping, the Highest Landmark Upscale Chinese Restaurant, Enhancing Chiang Mai as a Premier F&B and Tourism Destination
18 June 2024 AWC Launched ‘Teeshot Bar’ at Bangkok Marriott Marquis Queen’s Park, Pioneering the First Sports Simulator with F&B and Karaoke, Setting New Benchmark for Innovative Leisure Destinations
26 June 2024 AWC Launched "Phenix," a World-Class Food Hub in Pratunam, In Collaboration with International Embassies, Government, and Private Food Sectors to Elevate Thailand as a Premier Global Culinary Destination
18 September 2024 AWC Unveiled the New Iconic Landmark of Thailand “EA” As the Largest and Highest Rooftop Lifestyle Destination in the Heart of Bangkok at The Empire.
18 September 2024 AWC Launched Nobu Bangkok, the world’s highest Nobu restaurant by the renowned chef Nobu Matsuhisa, offering an exclusive experience at "EA" Rooftop at The Empire.
20 December 2024 AWC Partnered with Hotel Okura Launched ‘Okura Cruise’ The World’s First Luxurious Kaiseki and Teppanyaki Dining Cruise, Offers an Unparalleled Japanese Dining Experience Along The Iconic Chao Phraya River.
2025
24 January 2025 AWC Launched “Meliá Pattaya Hotel, Thailand,” The Newest Sustainable Lifestyle Resort Destination Featuring Pattaya’s First-ever Lay Beach Club.