Chearavanont family gifts $1M Bangkok condo to Nene Royal
Thailand's second-richest Chearavanont family, owners of CP Group, presented a luxury unit at Mulberry Grove The Forestias Condominiums to Nene Royal.
Chearavanonts gift luxury Bangkok property
The Chearavanont family, ranked as Thailand's second wealthiest, has given a luxury condominium in Bangkok to teen musician Nene Royal. The property, located at Mulberry Grove The Forestias Condominiums in eastern Bangkok, is valued at up to 36 million baht (US$1.08 million). Nene Royal recently became the first Thai artist to win America's Got Talent.
Dhanin Chearavanont, senior chairman of Charoen Pokphand (CP) Group, announced the gift following her victory, though the property had been presented to her family earlier in September.
Property details and family's business
The gifted apartment spans approximately 98 square metres and includes two bedrooms and two bathrooms. The Bangkok Post estimated its worth between 25 million and 36 million baht. The Chearavanonts derive their US$36.6 billion fortune, as reported by Forbes in July, from their diversified conglomerate, CP Group.
This group is a global leader in animal feed and livestock production, with significant holdings in real estate, financial technology, and telecommunications sectors.
CP Group's broader support
Dhanin Chearavanont stated the condominium aims to provide Nene and her family with a stable home, supporting her music career. A press release from Magnolia Quality Development Corporation, the project's developer, quoted Dhanin, highlighting Nene's story as an inspiration for perseverance.
CP Group also offered Nene a continuing scholarship this month, acknowledging her talent and contribution to Thailand's international profile. Earlier in August, the conglomerate promoted her image on an LED screen in New York's Times Square.
This high-profile gift by the Chearavanont family illustrates a notable instance of corporate philanthropy and wealth deployment in Thailand, linking a prominent business entity with a cultural achievement. For the Bangkok luxury property market, such transactions, even as gifts, highlight the valuation of prime assets like Mulberry Grove The Forestias Condominiums.
This event also shows how major conglomerates like CP Group engage in public relations and brand building through supporting national talent, potentially enhancing their social licence to operate and market standing.
This article is journalism, not investment advice; consult a licensed professional before making financial decisions. Market data is indicative, may be delayed, and should be verified with your broker or exchange before use.
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