Run Chatuchak for the public's benefit
The Cabinet is proposing to let the State Railway of Thailand (SRT) run the famous Chatuchak Market - but neither the SRT nor the Transport Ministry has a clear plan on how to do it.
The SRT’s track record in real estate management and transparency is horrible. For example, it plans to invite the vendors, who clearly have vested interests, to help finalise the rental rates.
Like the SRT itself, the Chatuchak Market belongs to the general public – not any vested interest group. As such, the benefits must accrue to the public at large.
We should study the business models used at efficient, transparently-run duty-free airports, such as Singapore’s Changi or Amsterdam’s Schiphol, and modify them for Chatuchak. We should definitely shun a concessionaire setup, which benefits mainly the concessionaire. Price the rentals at market [rates] to make sub-leasing unprofitable and maximise profits to the general public. Invite professional real estate managers to run the place, e.g., an international real estate management firm like Central Pattana or The Mall Group. Encourage competition among vendors, so they will vie to attract clients, benefiting Thailand’s tourist industry as a whole.
The only concession we should make to current vendors is that they will get the right of first refusal to the stalls which they currently lease.
All profits from Chatuchak would be used by the SRT to benefit third-class carriage passengers, thus aiding the underprivileged.
Use our golden goose to benefit the masses of rural poor.
Burin Kantabutra
Bangkok
