CBD land available for mixed-use projects

Most of these bigger plots are owned by state enterprises, some of which plan to open bidding among developers, assuming they can first clear any difficulties with their existing tenants, according to a survey by The Nation early this week.

If all of these plots were to be opened up for development, there would be an estimated combined investment of Bt1 trillion, would create new landmarks and a new residential area in the CBDs.

For example, the State Railway of Thailand plans to open bidding for development of the Makasan complex on 500 rai (50 hectares) of land worth Bt300 billion, located close to the Airport Link’s Makkasan station.

The project comprises an exhibition hall, retail area, entertainment complex, office building, serviced apartments and a luxury hotel.

The Port Authority of Thailand hopes to develop 223 rai in Khlong Tae for a mixed-use project, with an office building, logistics and warehouse facilities, and a shopping complex.

The more than Bt100-billion project has been in the offing since 2010, but development has been delayed due to opposition from the tenants at Khlong Tae market. Despite this problem, the plan remains part of the port’s business strategy.

Meanwhile, the Crown Property Bureau will reopen bidding to develop 80 rai at the Armed Forces Academy’s Preparatory School on Rama IV after Central Pattana, which won the earlier contact to develop the land, cancelled the deal due to a project delay.

The main idea of the bureau is to develop the area as a mixed-used project comprising office, retail and residential buildings. 

Other locations for potential development are detailed in the accompanying graphic.

 

Kittiratt’s relocation policy

Finance Minister Kittiratt Na-Ranong also has a policy to move some state agencies from land located close to the current CBDs and to redevelop the areas as new central business districts.

One such plan is to move the Correction Department’s Klong Plem facility, sited close to Bang Khen junction, so that the land can be redeveloped as a mixed-use project. 

Kittiratt is also interested in developing land at Phaholyothin, located close to Mo Chit Skytrain station, into an area for commercial and other buildings.

Sopon Pornchokchai, director of the Agency for Real Estate Affairs, said the areas in question were prime locations with a combined land value of more than Bt440 billion.

If the Bangkok Metropolitan Administration revised the regulations governing the building of high-rises in all of these locations, considerable project value would be created and there would also be greater efficiency in the use of land in central Bangkok, he said.