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Bangkok Property – Yingcharoen Market to Upgrade

By on Aug 10, 2015 in Property News, Residential, Retail

The property market in the Bangkok area of Saphan Mai is expected to grow due to the construction of the MRT Green Line connecting Mor Chit, Saphan Mai and KhuKhot over the next few years. The Yingcharoen market is 60 years old and is in this Saphan Mai area.  The market is owned by the Tumwattana family and is forming a real estate investment trust (REIT) to raise 2 billion baht to support expansion. CIMB Thai Bank is the financial adviser handling the REIT project.

The plan is to use the raised funds to renovate the Yingcharoen fresh market and build an attractive connecting way to the MRT Green Line’s Saphan Mai station.  Plans are afoot for serviced apartments, a shopping complex, car park building and small floating market. Planners have visited several old markets in Europe, such as the Budapest market in Hungary, to obtain inspiration for the Yingcharoen market.

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ource : Bangkok Post – 23rd July 2015

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