Bangkok: The Cabinet has officially approved the Mass Transit Authority of Thailand's (MRTA) ambitious plan to lease real estate, valued at over ten million baht, along seven MRT subway lines. This initiative aims to construct interconnected buildings as part of the MRT Chalerm Ratchamongkol Line project, as proposed by the Ministry of Transport.
According to Thai News Agency, Mr. Siripong Angkasakulkiat, the Spokesperson for the Prime Minister's Office, announced the Cabinet's approval for the MRTA to lease and develop real estate properties. These developments include buildings connected to the electric railway system and multipurpose structures at seven strategic locations. The selected sites include Kamphaeng Phet Station, Lat Phrao Intersection Station, Phahonyothin Station, MRT Sukhumvit Station, BTS Asok Station, Wat Mangkon Station, and Sam Yot Station.
The real estate initiative is designed to enhance public facilities and improve user experience with the electric train system. Plans include provisions for ATMs, vending machines, shops, telecommunications, advertising, public relations, activity areas, and recreational spaces. All developments will adhere to the regulations set by the Mass Rapid Transit Authority of Thailand and related bodies.
Commercial development will focus on supporting infrastructure, encompassing a total area of 4,367.21 square meters across the seven locations. The leasing approach is categorized into two cases: individual tenant agreements and entire area leases. The MRTA emphasized that leasing the entire area is expected to benefit both the public and the government more, while also generating increased revenue for the MRTA compared to individual tenancy agreements. The specific form of leasing rights will be finalized following Cabinet approval.