Friday, September 25, 2020

SRT invites private sector to develop land plot

Apr 08. 2019
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By The Nation

 The State Railways of Thailand (SRT) has invited the private sector to propose investments in the planned commercial development of the A land plot at Bangsue Grand Station.

The state agency will sell the bid documents from today until May 7, SRT acting governor Voravuth Mala.

The development of the A land plot, spread over 32 rai (5.12 hectares), is part of the state agency’s master plan for the Phaholyothin transportation centre development. 

The A land plot is close to the grand station, which is expected to be completed and begin operations in January 2021.

Voravuth is confident that the project would receive overwhelming response from local and international bidders due to the high potential of the land plot. Many Thai companies are expected to join forces to form a consortia to bid for the project.

According to bidder qualification, they must have experience of developing at least two out of three real estate business types –retail business, hotels or office building – as the SRT needs bidders with direct business experience in these kinds of real estate development. 

The SRT is confident that this key qualification will not create a barrier for bidding. It estimates that more than 100 Thai companies can meet this qualification.

The SRT reportedly aims to create a mixed-use project in the A plot area consisting of shops, restaurants, hotels and office buildings. 

It will launch the bid under the Public-Private Joint Venture Act of 2013. 

 

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