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21-rai creative economy site focusing on R&D & food technology the goal, after 28 year eviction saga of Rajamangala finally finished.

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PROPERTY DEVELOPMENT

University plans B4.6bn project

Chula wants to build creative centre, dorm
12 Mar 2013
Kanana Katharangsiporn

View looking out over Chulalongkorn University campus.

Chulalongkorn University has unveiled an ambitious plan to spend 4.6 billion baht to develop a dormitory, park, new road and a creative centre.

Prof Pirom Kamolratanakul, the university's president, said more than 2 billion baht will be spent on a dormitory for international students on a 16-rai plot on Banthat Thong Road.

Another huge investment of about 2 billion baht will be used to build a creative community-based innovation centre on a 21-rai site where Rajamangala Institute of Technology's Uthenthawai campus is located.

The centre will include a museum and a food technology faculty. It will focus on creative research and development, human resources and information.
The centre will aim each year to develop at least 50 small and medium-sized enterprises, more than 75 patents and new products and 50 businesses related to the creative economy.

"The development of the centre will take a few years to complete but we will wait for a relocation of Uthenthawai to a new site," Prof Pirom told a press conference yesterday.

On March 4, Uthenthawai's management met the Education Ministry to ask for a budget to relocate its campus to a 36-rai plot in Bang Ping of Muang district of Samut Prakan owned by the Treasury Department.

Without the budget and the new location, Uthenthawai is unlikely to give its current site back to the university.

Prof Pirom said the university will meet Uthenthawai's executives to find a solution before a planned protest by Uthenthawai students on Friday.

According to the lease contract between the university and Uthenthawai, the lease period started in 1935 and ended in 2003. The university has been asking for the return of the land since 1975.

In 2004, Uthenthawai signed an agreement to relocate and to give the plot back to the university by 2005, with an allowance of not more than one year.

The university sent three letters to ask for the plot in December 2006, February 2007 and July 2007.

The university also plans to spend 600 million baht to develop a 100-year park and expand Chulalongkorn Soi 5 by 30 metres.

In the next few months, the university will ask for the cabinet's approval for its investment.

It will also ask for an approval for two mixed-use projects for which it is seeking private investment on a plot where Sam Yan market was situated and on a plot on Charoen Phol Road near the National Stadium.

The university's plots in Pathumwan district total 1,153 rai, with educational areas accounting for 52%, commercial areas 30% and areas for government use 18%. The new plan will call for the proportion of educational areas to rise to about 54%.

Commercial areas include Siam Square, MBK shopping centre, Chamchuri Square, areas along Banthat Thong Road and in Suan Luang-Sam Yan.

The government agencies that borrow or lease land include the Department of Physical Education, Triam Udom Suksa School, Satit Patumwan Demonstration School, Pathumwan Primary School, Rajamangala Institute of Technology Uthenthawai, Bangkok Metropolitan Administration's Public Health Centre, Pathumwan District Office, Pathumwan Police Station and the National Stadium.

Most of them will be allowed to stay on except Uthenthawai and Pathumwan Primary School.

Property management is said to earn the university more than 1 billion baht a year, but an industry source estimated it should earn several billions of baht from its property assets.

(Source: Bangkok Post, PROPERTY, University plans B4.6bn project, Chula wants to build creative centre, dorm, 12 Mar 2013, Kanana Katharangsiporn, link) 


Real Estate Development Vocabulary

real estate - property in the form of land or buildings
real estate development - building a set of buildings to be used for some purpose (shopping malls, school, government center) (See Wikipedia)

real estate development project
University plans B4.6bn real estate development project

mixed-use real estate development project - a real estate development (a building, complex of buildings, or district of a town or city) that combines different kinds of land uses such as residential, commercial, cultural, institutional, or industrial uses (typically with pedestrian connections) (See Wikipedia)
mixed-use project - Same as "mixed-use real estate development project "

property - 1. land and buildings; same as "real estate" 2. things that are owned by someone; possessions (includes real estate and other things owned)
property development - Same as "real estate development"
property management - the management, care and maintenance of buildings and land, collection of rent, etc (See Wikipedia)

assets - things owned, especially property and money สินทรัพย์
property assets - land and buildings on the land, owned by a person or company

eviction - the legal process of forcing a person staying in a building or home to leave การฟ้องขับไล่ ; การฟ้องขับไล่ผู้เช่า (See Wikipedia)
saga - a long series of events or story that takes place over many years นิยายซากา
28 year eviction saga of Rajamangala finally finished

vast - extremely large in area, size, amount, very large, of great size กว้างใหญ่, มหาศาล ส่วนใหญ่ มหึมา มหาศาล
estate - an large area or piece of property with many buildings or houses
vast estate - a very big piece of land with buildings or houses on it (example: a housing estate, an industrial estate)

The vast estate of Chulalongkorn University pictured yesterday

dormitory - a large building which students live in while they are studying at school
dorm - Same as "dormitory"
a dormitory for international students

creative - creating and developing new original ideas

creative industries - economic activities involving the creation and use of knowledge and information. including education research and development, art, crafts, design, fashion, advertising, architecture, film, music, performing arts, publishing, R&D, software, toys and games, TV and radio, and video games:  "the industries of the twenty-first century will depend increasingly on the generation of knowledge through creativity and innovation" (See Wikipedia & definition & critique)
the creative economy - Same as "creative industries"

creative centre
Chula wants to build creative centre, dorm

innovation - a new way of doing something นวัตกรรม (See Wikipedia)
an innovation centre

research and development - work that searches for new product ideas and improvements to existing products or manufacturing processes) to make products งานวิจัยและพัฒนา (See Wikipedia)

food technology - ways of making food products, including reearch into new technologies (See Wikipedia & food processing)

community - all the people who live in a place and know each other (have something in common and are friends) ชุมชน
community-based

community-based innovation centre
a creative community-based innovation centre

ambitious - difficult and needing a lot of effort to succeed; goals are very high and difficult to achieve ทะเยอทยาน
an ambitious plan

unveiled - announced something officially that was previously a secret เปิดเผย  introduced แนะนำ
unveiled an ambitious plan

plot - a piece of land used for a particular purpose
a dormitory on a 16-rai plot

Chulalongkorn University has unveiled an ambitious plan to spend 4.6 billion baht to develop a dormitory, park, new road and a creative centre.

more than 2 billion baht will be spent on a dormitory for international students on a 16-rai plot on Banthat Thong Road

investment - taking your money and putting it into projects to make a profit or earn interest (buying stock shares, bonds, real estate)
a huge investment of about 2 billion baht

site - a place where something is located or happens  สถานที่ สถานที่เกิดเหตุ

a site for real estate development
a building site

a 21-rai site
will build the centre on a 21-rai site

Another huge investment of about 2 billion baht will be used to build a creative community-based innovation centre on a 21-rai site where Rajamangala Institute of Technology's Uthenthawai campus is located.

museum - a building where objects of historical, scientific or artistic interest are kept พิพิธภัณฑ์

faculty - a group of departments in a college which specialize in a particular subject or group of subjects คณะ
a food technology faculty

The centre will include a museum and a food technology faculty.

resources - things such as money, workers and equipment that can be used to help achieve something;  things needed for proper functioning, to get a job done ทรัพยากร ทรัพยากรที่มีอยู่
human resources - the people working at a company or on a project (used to achieve project goals through their work)

focus - the main thing someone is concerned with ให้ความสำคัญ

The centre will focus on creative research and development, human resources and information.

enterprises - companies
small and medium-sized enterprises (SMEs)

aim - purpose; goal ; the thing you hope to achieve by doing something เป้าหมาย จุดมุ่งหมาย
The centre will aim each year to ...

The centre will aim each year to develop at least 50 small and medium-sized enterprises, more than 75 patents and new products and 50 businesses related to the creative economy.

press - newspapers and magazines, and those parts of television and radio which broadcast news, or reporters and photographers who work for them สื่อมวลชน
press conference - a meeting held to provide the media (newspapers, TV news) with important information

relocation (noun) - the process of moving someone or something to a new place การย้ายที่ใหม่
relocation to a new site - moving something to a new place
relocation of a school to a new site

"The development of the centre will take a few years to complete but we will wait for a relocation of Uthenthawai to a new site," Prof Pirom told a press conference yesterday.

relocate (verb) - move to another location ย้ายไปตั้งอีกที่หนึ่ง
relocate its campus

budget - an amount of money able to be spent on something งบประมาณ
ask for a budget to relocate its campus

On March 4, Uthenthawai's management met the Education Ministry to ask for a budget to relocate its campus to a 36-rai plot in Bang Ping of Muang district of Samut Prakan owned by the Treasury Department.

current - of the present time ปัจจุบัน
the current site

Without the budget and the new location, Uthenthawai is unlikely to give its current site back to the university.

executives - a high level manager in a company (making plans and ensuring they executed successfully) ผู้บริหาร
university executives

protest - a strong complaint or disagreement ประท้วง
a planned protest by students

Prof Pirom said the university will meet Uthenthawai's executives to find a solution before a planned protest by Uthenthawai students on Friday.

lease - rent; to make a legal agreement in which you pay money in order to use a building, piece of land, vehicle, etc. for a period of time เช่า สัญญาเช่า
contract - a written (or oral) agreement that is legally binding สัญญา

lease contract (adjective + noun)
lease period (adjective + noun)
lease land (verb + noun)

According to the lease contract between the university and Uthenthawai, the lease period started in 1935 and ended in 2003. The university has been asking for the return of the land since 1975.

allowance - an amount of money that someone receives in order to pay for the things that they need เงินสนับสนุน, เบี้ยเลี้ยง

In 2004, Uthenthawai signed an agreement to relocate and to give the plot back to the university within 2005, with an allowance of not more than one year.

expand - to become larger ขายตัวออกไป
expand by 30 metres
expand the soi by 30 metres

The university also plans to spend 600 million baht to develop a 100-year park and expand Chulalongkorn Soi 5 by 30 metres.

approval - official permission การอนุมัต
will ask for approval for the investment

the university will ask for the cabinet's approval for its investment.
ask for an approval for two mixed-use projects

situated - located ระบุที่อยู่ ที่ตั้ง ตั้งอยู่ที่
a plot where a market was situated

private investment - companies making a business investment (not the government)
seeking private investment on a plot

It will also ask for an approval for two mixed-use projects for which it is seeking private investment on a plot where Sam Yan market was situated and on a plot on Charoen Phol Road near the National Stadium.

plots - pieces of land

commercial - for business purposes
commercial areas

The university's plots in Pathumwan district total 1,153 rai, with educational areas accounting for 52%, commercial areas 30% and areas for government use 18%. The new plan will call for the proportion of educational areas to rise to about 54%.

Commercial areas include Siam Square, MBK shopping centre, Chamchuri Square, areas along Banthat Thong Road and in Suan Luang-Sam Yan.

The government agencies that borrow or lease land include the Department of Physical Education, Triam Udom Suksa School, Satit Patumwan Demonstration School, Pathumwan Primary School, Rajamangala Institute of Technology Uthenthawai, Bangkok Metropolitan Administration's Public Health Centre, Pathumwan District Office, Pathumwan Police Station and National Stadium.

source - someone who gives information to the media แหล่งข่าว
an industry source

Property management is said to earn the university more than 1 billion baht a year, but an industry source estimated it should earn several billions of baht from its property assets.

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