Thailand’s expressway authority digs into land values with market survey
The Expressway Authority of Thailand (EXAT) initiated a market survey concerning its plots of land located under and close to its elevated expressways. These 17 regions, which include prime business districts in Bangkok such as Silom, Phloenchit, Wacharaphon, and Asok, show significant potential for commercial EXAT land development.
The survey aims to gather the perspectives of potential private investors, which will then be consolidated into a report. This report will be submitted to the new Cabinet via the Ministry of Transport for review, according to Surachet Laophulsuk, the governor of EXAT.
He further noted that these areas are slated to be auctioned off to interested investors in the following year. The investment projects could take various forms, from a three-year concession to a public-private partnership investment contract that could last between five to 20 years. These are expected to break even within three to four years.
EXAT has prepared a total of 530 plots of land across these 17 regions to kickstart commercial development projects. Furthermore, an additional 614 plots situated in eight areas are slated for EXAT commercial development from 2027 once the lease contracts granted to smaller renters terminate, added Surachet.
Out of these 17 regions, seven are marked as having the highest potential for commercial EXAT land development. The 385 plots of EXAT land within this specific group are sized between 3 rai and 10 rai. These seven areas include Silom, Asok, Sukhaphiban 5, Ram Intra, Phloenchit, Victory Monument, and Wacharaphon, reported Bangkok Post.
The remaining EXAT land plots within these 17 areas range from 3 rai to 200 rai in size and are found in outer Bangkok zones and suburbs.
Alongside this land development project, EXAT has three new expressway projects ready to be submitted to the new cabinet for approval, informed Surachet.
Thailand’s ongoing development has captured widespread interest. A range of concerns about Phuket projects are demanding attention. Key among these are pressing issues such as new road construction, effective drought solutions, and the potential establishment of a second Phuket Airport. Read more HERE.
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