InterContinental Residences Bangkok Asoke.

IHG Group's InterContinental brand expands into the private residence sector. A first project is planned in Bangkok as early as 2029.

The IHG group, which includes some twenty hotel brands, is entering a new phase in its history through its diversification into the residential sector. It is under its InterContinental label, integrated in the luxury and lifestyle category, that the firm embarked on the project. The brand of 231 establishments around the world has chosen Thailand to set up its first residence.

To do this, InterContinental has teamed up with private equity fund CG Capital, one of the country's largest real estate and commercial conglomerates strategically selected for its growth. The territory "is the top destination for branded residential projects in Asia-Pacific, accounting for 23% of current activity, ahead of China with 17%," explained Rajit Sukumaran, senior vice president and general manager for the East Asia and Pacific regions of IHG Hotels & Resorts, citing figures from the JLL report published in June 2024.