Bangkok’s new CBD is on its way

One of the country’s mega projects, Bang Sue Grand Station aims to be the new railway and transportation hub serving both current intercity train and Bangkok Mass Rapid Transit.

The Nation reported that the project will comprise of commercial and office buildings. The area around the station will be developed into a new central business district (CBD) in the capital incorporating residential and housing projects, sports complex and a centre to serve the meetings, incentives, conferences and exhibition (MICE) sector.

According to Sansiri Plc’s chief operating officer Uthai Uthaisangsuk, prices for land and homes around the site have increased on average by 13 percent a year and 10 percent, respectively. “The construction for new infrastructure boosts demand for residential properties and that is an opportunity for developers to increase their investment in the area.”

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Phanom Kanjanathiemthao, Knight Frank (Thailand)’s managing director added that condominium prices around Bang Sue have risen from an average of 95,000 Baht per square metre in 2017 to 112,500 Baht in the first quarter of this year, whereas land prices have increased from an average of 250,000 Baht per square wah five years ago 450,000 Baht at the end of 2017, up by 80 percent.