Nana Ghost Building - Asian Financial Crisis 1997 - Landmark no more

[cacruden]

I have to say, the first time I came here 8 years ago it was an interesting eyesore. But after seeing it everytime I came here it almost became a piece of modern art to me. Unfortunately the land underneath this building was purchased for a record 1 billion baht (around 34 million canadian) so the new owners want to use it and are tearing down the old building. I am actually a little sad to see it go.

In it's prime....

The end is near....

 

[TO City of Light]

Interesting. One of the last of many originally "ghosted".

Given its ideal location and the length of time it took to tear down, I suspect there were issues related to dodgy land ownership, etc.

There are a couple of ghosts still on Phuket from the 1997 crisis although the tsunami wreckage was cleared up very quickly.

I am quite sure Central World will be up and running, better than ever, very (by Canadian standards) soon.

 

[cacruden]

I think the land changed hands several times between the crisis and now. I guess someone wants it for something big. Central World (around 500 shops) is suppose to be "repaired" by the end of the year. Isetan Department store is operational, the centre of the building collapsed - they are going to just rebuild the centre - the rest of the building is apparently structurally sound. Zen looks bad, but I gather they are just going to clear out the floors and reclad the outside of the building. There is a new shopping centre going in near Asoke station on Sukumvit - Terminal 21 I believe it is called. I am guessing it will be only a few years until Nana Plaza is redeveloped - the lease (30 year lease) runs a few years from now.

 

[cacruden]

BTW, the link for Terminal 21 is http://www.terminal21.in.th/

Have not figured out what it will look like when completed, looks larger than what it feels like from the pictures on the website.

Could be an interesting concept if done right. (i.e Market concept) - but artists renditions do not give me the best impression.