SRT seeks investors for THB9.2-billion Smart Complex at Bangkok station
The State Railway of Thailand (SRT) is seeking investment to develop a 51-rai (8.6 hectare) plot, including its office, a bus terminal and 4-star hotel, next to Krung Thep Aphiwat Central Terminal in Bangkok.
The Smart Business Complex project is part of a 2,325-rai development around the country’s main rail hub that will also be occupied by the government’s “Homes for Thais” low-cost housing project.
SRT deputy governor Anan Phonimdang said SRT Asset (SRTA) launched the investment plan after failing to attract private-sector bids for the plot.
“We expect the ‘Homes for Thais’ project to bring life to this area and encourage private investors to invest then,” he said.
The low-cost housing project is earmarked for plot G near PTT headquarters, with residences due to be handed over in late 2026.
The SRT Smart Business Complex project consists of a 35-storey building for commercial activities, a 25-storey midscale hotel with 300 rooms, a bus terminal and other facilities. The project is expected to be worth over 9.2 billion baht.
Two investment models are currently under study:
Lease land to private sector for project development: Businesses would pay rental fees as specified in SRT regulations, develop the project within four years, and deliver assets to SRTA at the end of lease contract.
Convert land use rights into capital: A joint investment between SRTA and the private sector with investment proportion equal to land rental value. SRTA would be responsible for land rental fees, while the private sector invested in project development. Once the project is completed, returns from project management would be shared, with the private sector delivering assets to SRTA at the end of lease contract.
Separately, SRTA is also exploring funding options for plot E, which spans 138 rai near Siam Cement Group headquarters and Prem Prachakorn Canal. This plot will house the MOT Smart Building, an energy-saving structure supporting at least 1,200 officials and 1,550 vehicles that will become the Transport Ministry HQ.
Source: https://www.nationthailand.com/business/property/40047222
