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Thailand Real Estate – Makkasan, Chong Nonsi Land long-term lease discussion Begin Today

By on Nov 04, 2013 in Property News

Thailand Real Estate Finance, transport ministries to discuss long-term lease of two SRT plots

The Ministries of Finance and Transport will today start negotiations on the long-term lease of the State Railway of Thailand’s two land plots in Bangkok, including the 490-rai area in Makkasan.

Treasury Department director-general Naris Chaiyasoot said land measurement for the Makkasan plot was complete, while those for the river-front 270-rai plot in Chong Nonsi will start soon. He said the Makkasan plot showed greater commercial potential; while the other contained development limitations – it is located in a densely populated area and near a military safety zone, with a narrow entrance from the main road.

The Makkasan plot would entail huge investment, Naris said. Any government project valued above Bt1 billion and awarded to private companies must come under the Public-Private Joint Venture Act. SRT’s land in the area encompasses a total of 700 rai, but some now houses the Airport Rail Link.

“It could be turned into a shopping complex, a concert hall, a bus station, a hospital and a residential complex,” Naris said. He added that, as proposed by Finance Minister Kittiratt Na-Ranong, some space might be turned into public facilities like a park, a sport stadium or a museum.

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Source | The Nation 4 November 2013

Nora has been in the Corporate Communications arena for a number of years. Nora's role is to communicate all newsworthy items that are of a PR nature.

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