Bangkok: MCOT Public Company Limited has clarified the access and exit routes for its 50-rai plot of land in Ratchada, as it seeks to attract private investment. The CFO of MCOT revealed that the market sounding for the project has shown positive results, with the land valued at nearly 10 billion baht. The company has addressed all access and exit issues, building confidence ahead of the release of the Terms of Reference (TOR) in the first quarter of 2026.
According to Thai News Agency, Ms. Suntariya Wongsirikul, Senior Vice President of Finance and Acting CFO of MCOT, stated that the Market Sounding meeting for a commercial development land lease project, covering 50-1-30.5 rai in the central business district near Ratchadaphisek Road, garnered significant interest from over 40 participants, including approximately 10 major investors and developers.
Investors have placed significant focus on the accessibility of the site, which has now been clarified. On the south side, adjacent to Thiam Ruammit Road, MCOT has secured an MOU with the Mass Rapid Transit Authority of Thailand (MRTA) for two access lanes, each 20 meters wide. On the north side, an easement with the Ministry of Culture provides a 14-meter wide access lane. The west side borders Watthana Road on SRT land, with a sublease agreement open for negotiation.
The land plot is valued at approximately 9 billion baht, with MCOT anticipating a rental yield of at least 30% of the asset value over the contract period. The Terms of Reference (TOR) are set to be announced in the first quarter of 2026, with bids accepted during April-May. An investor will be selected mid-year, followed by an extraordinary shareholders' meeting in August. The successful bidder will be announced in October, and the contract is expected to be signed in December 2026.
The company plans to commence revenue recognition in 2027 and aims to attain profit by 2028, with a goal to increase the revenue share from non-broadcast businesses to 25-30% within three years. This comes after spending more than five years planning, developing, and adjusting the business model to align with urban planning and market conditions.