Work on projects at a prime land plot on the banks of the Chao Phraya River and the site of the Queen Sirikit National Convention Center have been approved by the Treasury Department, reports local media. The projects have been delayed for years, but are going to get under way soon.
The 1st project is a boutique hotel that is scheduled to be constructed on the waterfront site. The old Customs House building currently sits on the land. The 2nd project will see the Queen Sirikit National Convention Center demolished and replaced with a 400-room hotel that will be in the 4- or 5-star category. The complex will also have a 3,000-space parking lot and a large space reserved for commercial activities, according to the Bangkok Post.
A concession contract has been granted to N.C.C. Management & Development Co for the Queen Sirikit National Convention Center project and that is being examined by the Office of the Attorney General, according to Patchara Anuntasilpa, Treasury Director-General. Should everything be approved, N.C.C. will invest THB 6 billion on the project.
U City will work on the Chao Phraya River development and has offered to pay at least THB 1.3 billion to the government for the site. In addition to this, it is willing spend THB 900 million to transform the Customs House into a boutique hotel.
In 2005, U City won a 30-year concession contract to develop and manage a boutique hotel on the 5-rai land plot along Charoen Krung Road but there were doubts in regards to its financial status at the time. No progress has been made on the project in over 10 years before the latest announcement from the Treasury Department.
The department is also hoping to restart a 3rd development, a residential and mixed-use complex in Mor Chit worth THB 26.9 billion. That project will need more time as there have been several construction design changes on the development that will have a department store, office buildings, and apartments.
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