PUBLISHED : 30 Aug 2023 at 04:00
The Expressway Authority of Thailand (Exat) is conducting a market survey on plots of land under and near its elevated expressways in 17 areas that are believed to have potential to be further developed for commercial purposes.
Opinions from prospective private investors will be compiled into a report, which will then be submitted to the new cabinet via the Ministry of Transport for consideration, said Exat governor Surachet Laophulsuk.
The 17 areas, which include Bangkok’s prime business zones, including Silom, Phloenchit, Wacharaphon and Asok, will be leased out to interested investors through auctioning from next year, he said.
These investment projects could come in various forms ranging from a three-year concession to a public-private partnership investment contract, which is five years to 20 years long and expected to break even in three to four years, he said.
The Exat has a total of 530 plots of land in these 17 areas ready for commencing a commercial development project, while from 2027 another 614 plots in eight areas will be ready to embark on commercial development when the lease contracts granted to small renters expire, Mr Surachet added.
Of the 17 areas, seven are categorised as a group with the highest potential to be developed for commercial purposes, he said, adding that 385 plots of Exat land in this specific group are between 3 rai and 10 rai.
The seven areas are Silom, Asok, Sukhaphiban 5, Ram Intra, Phloenchit, Victory Monument and Wacharaphon, he said.
The rest of the Exat land plots in these 17 areas range in size from 3 rai to 200 rai and are located in outer Bangkok zones and the suburbs.
In addition to this land development project, the Exat has prepared three new expressway projects to submit to the new cabinet for approval, said Mr Surachet.