Knight Frank’s Global Cities report is making a bold prediction about Bangkok’s Central Business District. It reveals that the CBD will branch out in three new areas as the city’s public transport system continues to expand. It is predicted that these new CBD areas could see a large number of occupiers move in between now and the end of the decade.
At the moment Bangkok’s traditional CBD can be found within Sathorn, Silom, Ploenchit, Wireless, Rama I and Rajdamri roads. There is a high density of office buildings, hotels and retail complexes here but the area has suffered from a shortage of land available for development in recent years. This in turn has caused prices to rise sharply with Ploenchit having recorded several record breaking land transactions over the past few years.
Ratchadapisek-Rama 9 continues to be the most talked about commercial sub-center, according to Knight Frank’s report and several large scale projects are either under construction or have recently opened. These projects include Grand Rama 9, U-Place, the new Stock Exchange of Thailand building and several other retail complexes.
Another area that could soon be expanding is Bangna. The Mall Group recently announced it will begin construction on Bangkok Mall, a development that will feature businesses, residences and office space. The report noted that this project, along with other new commercial developments including Bhiraj Tower at Bitec and SJ Infinite 2 being built in Bangna, will enhance the commercial potential of the area.
Finally, the new transport hub at Bangsue Grand Station, to the north of the CBD, also has the potential to become another commercial real estate catalyst. Provincial bus networks, rail lines and the city’s rail system will all intersect in this location making the station Bangkok’s main transport hub. The Knight Frank report pointed out that with a significant amount of land available in this area, it could be a future hotspot.
