The Transport Ministry expects that bids for the commercial development of land around Krung Thep Aphiwat Central Terminal will be completed this year.
Transport Minister Saksayam Chidchob said the State Railway of Thailand (SRT), which is responsible for the development of land around the capital’s new rail hub, has almost finished drafting the terms of reference.
Bidding is expected to take place soon after the completion of the terms. Ultimately, the state agency hopes to earn up to 60% of its profit from land development with the rest coming from passenger fares, the minister said.
The bidding will cover 2,235 rai divided into nine sections. The first round of bidding will cover sections A and E.
A source at the SRT said the 32 rai of Section A comprises a plot of land located to the south of the station, where the SRT has drafted a mixed-use project plan.
Section E covers 128 rai located between the new station and the Siam Cement Group building, which the SRT expects to be used for a new department store or community mall. The rail agency hopes to see a number of major retailers join the bidding, the source said.
The SRT is also drafting terms of reference for the installation of 47,675 square metres of advertising billboards on land inside the Central Terminal complex.
The amount of space available is said to have been scaled back from 52,000 sq m originally.
According to the source, the change reflected the SRT’s intention to set aside more area for high-speed rail construction.