0:00
0:00
SRT Seeks Investors for THB9.2-Billion Smart Complex at Bangkok Station
The State Railway of Thailand is inviting investment for a mixed-use development adjacent to Krung Thep Aphiwat Central Terminal, featuring commercial spaces, a hotel, and a bus terminal.
The State Railway of Thailand (SRT) is actively seeking investment to develop a 51-rai (approximately 8.6 hectares) plot of land adjacent to the Krung Thep Aphiwat Central Terminal in Bangkok.
This initiative is part of a broader 2,325-rai development plan surrounding Thailand's main rail hub.
The proposed Smart Business Complex project encompasses a 35-storey building designated for commercial activities, a 25-storey midscale hotel offering 300 rooms, a bus terminal, and additional facilities.
The estimated value of the project exceeds 9.2 billion baht.
Two investment models are currently under consideration.
The first involves leasing the land to private entities for project development, wherein businesses would pay rental fees as per SRT regulations, complete the project within four years, and transfer the assets to SRT Asset (SRTA) upon lease expiration.
The second model proposes converting land use rights into capital through a joint investment between SRTA and private investors, proportional to the land rental value.
In this arrangement, SRTA would handle land rental fees, while private investors would fund the project's development.
Post-completion, returns from project management would be shared, with assets eventually transferred to SRTA at the end of the lease term.
Additionally, SRTA is exploring funding options for plot E, a 138-rai area near the Siam Cement Group headquarters and Prem Prachakorn Canal.
This plot is slated to house the Ministry of Transport's Smart Building, an energy-efficient structure designed to accommodate at least 1,200 officials and 1,550 vehicles, intended to serve as the new Transport Ministry headquarters.
The Krung Thep Aphiwat Central Terminal, formerly known as Bang Sue Grand Station, officially commenced operations on January 19, 2023, replacing the Hua Lamphong railway station as Bangkok's primary rail hub.
As the largest railway station in Southeast Asia, it features 26 platforms and offers 274,192 square meters of usable floor space.
The station integrates various rail services, including long-distance intercity trains and the SRT Red Line commuter trains, and is connected to the Bang Sue MRT station via an underground walkway.
The development of the Smart Business Complex is anticipated to enhance the area's commercial appeal and support the government's 'Homes for Thais' low-cost housing project, aimed at revitalizing the vicinity around the central terminal.
This initiative is part of a broader 2,325-rai development plan surrounding Thailand's main rail hub.
The proposed Smart Business Complex project encompasses a 35-storey building designated for commercial activities, a 25-storey midscale hotel offering 300 rooms, a bus terminal, and additional facilities.
The estimated value of the project exceeds 9.2 billion baht.
Two investment models are currently under consideration.
The first involves leasing the land to private entities for project development, wherein businesses would pay rental fees as per SRT regulations, complete the project within four years, and transfer the assets to SRT Asset (SRTA) upon lease expiration.
The second model proposes converting land use rights into capital through a joint investment between SRTA and private investors, proportional to the land rental value.
In this arrangement, SRTA would handle land rental fees, while private investors would fund the project's development.
Post-completion, returns from project management would be shared, with assets eventually transferred to SRTA at the end of the lease term.
Additionally, SRTA is exploring funding options for plot E, a 138-rai area near the Siam Cement Group headquarters and Prem Prachakorn Canal.
This plot is slated to house the Ministry of Transport's Smart Building, an energy-efficient structure designed to accommodate at least 1,200 officials and 1,550 vehicles, intended to serve as the new Transport Ministry headquarters.
The Krung Thep Aphiwat Central Terminal, formerly known as Bang Sue Grand Station, officially commenced operations on January 19, 2023, replacing the Hua Lamphong railway station as Bangkok's primary rail hub.
As the largest railway station in Southeast Asia, it features 26 platforms and offers 274,192 square meters of usable floor space.
The station integrates various rail services, including long-distance intercity trains and the SRT Red Line commuter trains, and is connected to the Bang Sue MRT station via an underground walkway.
The development of the Smart Business Complex is anticipated to enhance the area's commercial appeal and support the government's 'Homes for Thais' low-cost housing project, aimed at revitalizing the vicinity around the central terminal.
