Knight Frank Thailand has spotlighted the Phetchaburi-Asoke-Ratchada-Rama IX area as a future development hotspot, managing director Phanom Kanjanathiemthao said on Monday
This is due to the many huge projects both under way and planned for the area, making it worth watching for further commercial and residential development, he said.
First off, the Ratchada-Rama IX area will emerge as Bangkok’s new central business district. The Grand Rama 9 Square, which is a mixed-use development, is situated on the corner of Ratchada-Rama I Road on 73 rai (11.7 hectares) of land.
It will include the 125-storey, 615-metre Super Tower, which is slated to be the tallest building in Thailand, and will also comprise 320,000 square metres of space.
In addition to Grand Rama 9 Square, the project encompasses G Tower, The 9th Towers, Unilever House, Belle Grand Rama 9 and Central Plaza Grand Rama 9 – making it one of Bangkok’s largest mixed-used developments.
Meanwhile, the Asoke-Petchburi intersection houses the Singha Complex, also a huge mixed-use complex with office space, shops and retail areas totalling 120,000 square metres, as well as a residential condominium – The Esse – which commands an average price of Bt275,000 per square metre, Phanom said.
In addition, the Airport Link station area will witness Bangkok’s largest inner-city development in the future: the Makkasan Complex, which sits on over 300 rai of land.
Its commercial aspect includes offices, a condominium, a three- to five-star hotel, retail space, a conference centre, a hospital, an international school and a railway museum.
This will cover around 50 rai, with another 150 rai slated for a public park.
The Airport Link station has also been designated as the gateway for the EEC (Eastern Economic Corridor), as it will serve as the link connecting high-speed rail lines to three airports – Don Muang, Suvarnabhumi and U-tapao – the MD said.
Moreover, the area across from the Makkasan Complex will house the Expressway Authority of Thailand’s new offices, while Ratchadaphisek Road serves as home to AIA Tower and the new Stock Exchange of Thailand headquarters and the Ratchada-Rama IX-Asoke-Din Daeng area contains more office and residential complexes.
The Phetchaburi-Asoke-Ratchada-Rama IX area is therefore an area worth watching for the future in terms of its commercial and residential developments, he added.
As it is near Sukhumvit, it is served by the MRT subway and many large developments.
The prices of residential units in many of the area’s projects are above Bt200,000 per square metre.
These include Q Asoke, The Esse at Singha Complex, and Ashton Asoke-Rama IX, which is located on the corner of Asoke-Din Daeng Road.