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CBRE has been appointed to sell, by tender, a 28-rai or 11-acre site with a floor area ratio of 7:1 on Ratchadapisek road . The site has the potential to be developed into a landmark mixed-use development. The tender submission date is November 28, 2018.
The site offers great convenience and accessibility to mass transit lines in one of the most sought-after locations in Bangkok, at the new Thailand Cultural Centre interchange station of the MRT Blue Line and the under-construction MRT Orange Line. The site is opposite the Grade A AIA Capital Center office tower and the Esplanade Ratchadapisek shopping mall.
Kulwadee Sawangsri, executive director and head of capital markets/investment and land, CBRE Thailand, said that land prices on Ratchadapisek road continue to increase, but at different levels, depending on location as well as land size and shape. Most importantly, if a site is next to a mass transit station, the demand from buyers as well as the land price will be higher. The Ratchadapisek area is a strategic location in terms of business, residential and leisure and provides great accessibility to work, live and play.