Developers Compete For Prime Sites In Bangkok CBD

It makes perfect sense for a business traveller to book accommodations at business district hotel in Bangkok to save on time and efforts when attending meetings and conferences. However, this does not necessarily mean that a leisure traveller cannot opt for the same hotel in Bangkok Central Business District (CBD) since it is conveniently located near a BTS Skytrain station.

The areas that are in close proximity to CBD are considered prime sites. Since there is very strong demand, developers continue to acquire sites for future developments. Because of strong demand, land prices in prime locations particularly along the mass transit lines have increased dramatically.

The biggest property transaction in Thailand’s history was the recent acquisition of the British Embassy site through a joint venture between CPN and Hong Kong Land for £420 million. SC Asset paid a record breaking price of 3.1 million baht per square wah for the 880 square wah development site in Soi Lang Suan.

Other downtown acquisitions were not revealed to the public. This includes the site on main road Sukhumvit and the Origin’s Property purchase of a 13-rai site on Soi Thong Lor 10. Prices for both transactions were not disclosed. Aside from the freehold sites, leasehold land plots are also subjected to high demand.

Land and Houses has recently announced that they are going to sign a 30-year lease for a 6-rai site on the corner of Sukhumvit Soi 10 for a mixed-use project that will consist of an office and retail component. Ananda Development also signed a 30-year lease for a 1-rai site along Sukhumvit Road Soi 8 for a low-rise hotel.

The continued expansion of the mass transit lines connecting outer Bangkok suburbs to CBD has increased competition for site acquisition in the core areas of Bangkok that include central Lumpini, early Sukhumvit Road to Sukhumvit 55 and Sathorn and Silom Roads.

The location of business district hotel in Bangkok is not the only reason why it is popular among travellers. The facilities are designed for comfort and fast and friendly service can be expected from the staff from the time of your arrival up to the last moments of your departure.

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