Rama IV is starting to see massive property investment and The Nation reported that more than THB100 billion will be put into housing, retail, office and hotel developments in the area. These projects include luxury condominiums and shopping malls with some slated to open later this year.
Investment in Rama IV began in 2015 and more developers have made plans to start building their own projects in the area within the next two years, according to a recent survey conducted by The Nation. CBRE Thailand managing director Aliwassa Pathnadabutr told the newspaper that Rama IV Road was a new destination for commercial and residential development, with three major plots of land starting to be developed and projects on these being completed between now and 2020.
TCC Land Asset World Estate, a subsidiary of TCC Group, has already announced plans to construct a mixed-use development on a land plot at the Armed Forces Academy’s Preparatory School on Rama IV. The THB50 billion project will have an office building, a shopping complex and a luxury hotel.
Meanwhile, the Port Authority of Thailand is currently studying the feasibility of developing a mixed-use project on a 223-rai plot of land in Khlong Toei. The Nation noted that the development would consist of an office building, logistics and warehouse facilities and a shopping complex and cost around THB50 billion to build.
Several other projects are already nearing completion in the Rama IV area. Golden Land Property’s 12-story FYI Centre (pictured), an office building and a 239-room serviced hotel, will open in the middle of the year. Suanplern Market, a community mall opposite Maleenont Tower, is scheduled open in the second quarter of this year as well.
A number of condominium projects have been launched in the area by several high profile developers. These include Pruksa Real Estate’s Condolette Pixel, The Portrait RamaIV-Sukhumvit 38 by Krung Thai Land Development, The Room Rama IV by Land & Houses, AP Thailand’s Aspire Rama IV and Ideo Q from Ananda Development.
