Knight Frank spots Bangkok property gold
Consultant heralds new business centre
published : 26 Sep 2017 at 07:43
newspaper section: Business
Phetchaburi, Asok, Ratchadaphisek, and the Rama IX areas are set to see expansive development down the road, says property consultant Knight Frank.
Phanom Kanjanathiemthao, managing director of Knight Frank Thailand, said the areas of Phetchaburi, Asok, Ratchadaphisek and Rama IX will see big changes, mainly from megaprojects planned for these locations.
The Ratchadaphisek-Rama IX area will emerge as Bangkok's new central business district. CentralPlaza Grand Rama IX, a mixed-use development, is situated on the corner of Ratchada-Rama IX Road on 73 rai. It will include the 125-storey, 615 metre Super Tower, which is slated to be the tallest building in Thailand. The tower will boast 320,000 square metres of space.
In addition to CentralPlaza Grand Rama IX, the project encompasses G Tower, The 9th Towers, Unilever House and Belle Grand Rama 9, making it one of Bangkok's largest mixed-use developments.
Meanwhile, the Asok-Phetchaburi intersection houses the Singha Complex, a huge mixed-use complex with office space and 120,000 sq m of retail area as well as a residential condomi‑ nium, The Esse, which commands an average price of 275,000 baht per sq m.
In addition, the Airport Link station area will witness Bangkok's largest inner-city development -- the Makkasan Complex -- which sits on over 300 rai. The complex's commercial aspects include offices, a condominium, a 3 to 5-star hotel, retail space, a conference centre, a hospital an international school and a railway museum.
This development will cover 50 rai, with another 150 rai slated for a public park. The Airport Link station has also been designated as the gateway for the Eastern Economic Corridor, as it will serve as the link connecting high-speed railway lines to three airports: Don Mueang, Suvarnabhumi and U-tapao.
Moreover, the area across from Makkasan Complex will house the Expressway Authority of Thailand's new offices.
Ratchadaphisek Road serves as home to AIA Tower and the new Stock Exchange of Thailand headquarters. The Ratchada-Rama IX-Asoke-Din Daeng area contains more offices and residential complexes.
The Phetachburi-Asok-Ratchada-Rama IX area is thus an area worth watching out for in terms of its commercial and residential developments, said Knight Frank.
As it is near Sukhumvit, it is served by the MRT and many large developments, the consultant said.
The price of residential units in many of the related projects are over 200,000 baht per square metre. These include Q Asoke, The Esse at Singha Complex, and Ashton Asoke-Rama 9, located on the corner of Asoke-Din Daeng Road.