New train line propelling Bangkok Land

Nonthaburi expects extension in 2021

SET-listed Bangkok Land plans to allocate 5-6 billion baht to develop new property projects in Muang Thong Thani in preparation for expected business growth once the Pink Line skytrain is developed.

The Pink Line mass transit line is scheduled to run from Khae Rai to Min Buri. The route is under construction and expected to open for service in 2021.

The cabinet is set to approve the extension of the line to reach communities in Muang Thong Thani in Nonthaburi, with two stops planned — one at Impact Lakeside and the other at Challenger halls.

Once the extension routes are approved, the company expects to invest in a new hotel, Mice-related facilities and mixed-use projects, said Peter Kanjanapas, vice-chairman and executive director of Bangkok Land, which owns Impact Exhibition Management.

He estimates land prices in the area will increase by three times if the Pink Line monorail project reaches Muang Thong Thani. Land prices will increase to 300,000 baht per square wah, approaching the prices of prime areas on Chaeng Watthana Road, said Mr Peter.

More convenient transport would help increase visitors to exhibition and convention halls by 30-40% from 10-15 million a year, he said.

Mr Peter said the company will place higher focus on developing commercial properties in Muang Thong Thani rather than the residential sector, which has high competition, notably in areas such as Ngam Wong Wan and Chaeng Watthana.

Previously, the company spent 2 billion baht on a new mall, Cosmo Bazaar in Muang Thong Thani, which opened in March.

The new mall supports demand from Cosmo Office Park nearby, with an occupancy rate of 50%.

Bangkok Land owns some 4,000 rai in Muang Thong Thani, with about 600 rai available for future development.

“Most people know Impact as the convention centre that host exhibitions or concerts, but we would like to represent our food and beverage business there too. We plan to increase the scope of our catering service, both inside and outside Muang Thong Thani,” said Paul Kanjanapas, managing director of Impact Exhibition Management.

The company plans to launch the Hong Kong-based franchise The Coffee Academics in October on Lang Suan Road to expand its footprint.

Impact Exhibition Management wants to increase income by 15-20% in three years from 3.2 billion baht.

For food and beverage alone, the company plans to push income to 2 billion baht in three years, up from 700 million baht at present.

For fiscal 2019 (from April 1, 2018 to March 31, 2019), Bangkok Land reported 7.97 billion baht in revenue.

The company targets 10 billion baht revenue within three years.

Some 57.8% or 4.61 billion baht in revenue is from exhibition, convention, hotel and food and beverage business. That is followed by real estate at 2.81 billion baht (35.2%), retail 310 million baht (3.9%), building management and other business, 244 million baht (3.1%). Mr Paul, left, and Mr Peter discuss plans for the 4,000 rai Bangkok Land owns in Muang Thong Thani.

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We plan to increase the scope of our catering service, both inside and outside Muang Thong Thani.

PAUL KANJANAPAS

Managing director, Impact Exhibition Management