Extensions and construction of electric rail routes brings windfall to real estate investors

Construction News

Extensions and construction of electric rail routes brings windfall to real estate investors

The real estate sector will continue to enjoy windfall from the construction and extension of both sky train and subway train routes this year, according to Mr Sophon Pornchokechai, managing director of the Agency for Real Estate Affairs (AREA).

He stated that real estate developers were showing strong interest in developing properties located along planned electric rail routes.

These include overhead lines run by the Bangkok Mass Transit System (BTS) and subway systems operated by the Mass Rapid Transit Authority of Thailand (MRT) which is expected to expand by 65% over the last year.

These include completed lines as well as lines currently under construction such as the Purple Line, Green Line and Blue Line.

He said areas along these lines are prime pieces of property that is very popular among real estate investors.

Besides, the government’s planned construction of new national transportation infrastructure which is expected to be completed within the next 3 to 5 years will also allow real estate investors even more choices of properties to develop, he said.

The Mass Rapid Transit Authority earlier reported on the progress being made on its 4 electric rail projects.

These include the Purple Line which connects Bang Yai to Tao Poon which has been completed and undergoing trials runs. This line will begin formal service in August of this year.

The Blue Line which will connect Hua Lampong – Bang Khae and Bang Sue – Tha Phra is under construction and should become operational in 2019.

The Green Line which is also under construction will run from Bearing – Samut Prakarn and from Mo Chit – Saphan Mai – Khu Khod will be completed in 2020.

Furthermore, the Mass Rapid Transit Authority also revealed plans to speed up a further 8 electric rail projects under its responsibility.

These include the Pink Line running from Khae Rai – Minburi which will begin construction in 2017 and should become operational in 2020 as well.

All these projects raised expectations that the real estate sector will continue  to enjoy windfalls from the mega infrastructure projects this year and the next several years.

Source: http://englishnews.thaipbs.or.th/content/161406