PPRP deputy denies claims of inflated property sale to SSO
Santi Promphat, deputy leader of the Palang Pracharath Party (PPRP), has strongly denied allegations that his son, Patana Promphat, sold a building to the Social Security Office (SSO) at an inflated price, insisting the sale was legitimate and fairly valued.
Today, March 20, Santi responded to claims made by opposition MPs Rukchanok Srinork and Sahassawat Kumkong of the People’s Party (PP), who accused Patana of selling the SKYY9 Centre on Rama IX Road to the SSO for 7 billion baht, despite the building’s estimated value being only 3 billion baht.
The MPs also alleged that the deal was approved while Suchart Chomklin, a Palang Pracharath member, was serving as Labour Minister, and that instead of purchasing just the building, the SSO bought the company that owned it, inheriting a 2 billion baht debt. They further implied that the deal might be linked to Patana, Santi’s son.
However, Santi categorically denied any involvement from his son or his property firm, Watergate Pavilion Co Ltd. He explained that Patana had initially purchased the SKYY9 Centre from a previous owner and later bought back units from smaller owners to gain full control.
Patana had originally planned to renovate the building, but a foreign property firm, AGRE 101 Co Ltd, approached him with an offer to buy it.
Santi clarified that Patana sold the property to AGRE 101 for over 2 billion baht, well before it was sold to the SSO for 7 billion baht. He argued that the SSO did not overpay for the building, as AGRE 101 had made significant investments in high-quality renovations.
Santi pointed out that the SSO acquired the property for 70,000 baht per square metre, which he claimed was a fair price, considering that similar buildings in the prime location typically sold for 100,000 baht per square metre.
He also denied lobbying Suchart to instruct the SSO to buy the building, as suggested by the opposition MPs. Santi reiterated that the entire deal was legitimate and in line with market standards, dismissing any claims of corruption or irregularity, reported The Nation.
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