Biddings for commercial development for areas around Krung Thep Aphiwat Central Terminal are scheduled to be completed before the end of this year.
According to Transport Minister Saksayam Chidchob, bidding for the development of land around the terminal would begin after the State Railway of Thailand (SRT) finished drafting the terms of reference, which is said to be nearly complete.
The commercial development bidding will cover 2,235 rai which will be divided into nine sections. The first round of bidding will cover Section A, a 32-rai area south of the station, and Section E, which covers 128 rai located between the station and the Siam Cement Group building. The area could be used for department stores or community malls, in which the SRT hopes for retailers to join in on the bids in this section.
The SRT expects to make up to 60% of its profit through land development, with the remainder coming from passenger fares.
Meanwhile, the SRT is drafting terms of reference for the installation of 47,675 square meters of advertising billboards on property within the Central Terminal. The amount of space is reported to have been reduced from 52,000 square meters, as the SRT is setting aside more areas for high-speed rail development. (NNT)
