99-yr land lease term approved
Play
A government committee today approved the 99-year lease term for state land.
Yongyuth Mayalarp, government spokesperson, said that the decision of the committee - tasked to speed up the development of six special economic zones (SEZs) - would cover a total of 24,871 rai of land in five provinces. They are Tak, Sa Kaeo, Trat, Mukdahan, and Nong Khai.
The decision is based on the law on land leases for commercial and industrial purposes enacted in 2009, which allows the 50-year lease. Plus a 49-year renewal term, the lease period will be 99 years.
Under normal circumstances, Thailand lease law allows a 30-year maximum lease period, with the possibility of renewing the lease for additional 30-year periods.
