State Railway of Thailand land near Khon Kaen railway targeted
PROPERTY development on plots close to Thailand’s Khon Kaen railway station in Khon Kaen city’s Nai Mueang subdistrict, which is owned by the State Railway of Thailand (SRT ), should draw new demand and boost the economy in the province and the region, say local developers.
Khon Kaen Real Estate Association president Channarong Buristrakul said the plots owned by SRT are prime because they are located near the inner town area. The development could drive Khon Kaen province’s economy, he said.
“For maximum benefits in the province and the region, the master plan for property development for SRT plots in Khon Kaen should be in line with Greater Mekong Subregion Economic Cooperation,” said Channarong.
The land should be designed to support transport networks from neighbouring countries, not only local transport networks, because that would have a greater impact on the country, he said.
“The master plan should consider the future and support future development like medical services or senior living,” said Channarong on Monday during a market sounding on SRT plots near the railway station.
Project site SRT plans to have property development that will cover two plots on both sides of the rail along the Khon Kaen station, a combined 17.344ha. More than half of the total on the west side of the rail is a wasteland that was previously a nine-hole golf course.
According to a feasibility study and master plan designed by the National Institute of Development Administra- tion (Nida), there will be five development zones with four development concepts on these two plots.
On the east side of the rail, there will be three zones, including Zone B on 25,920sqm that is planned for transit-oriented development.
Adjacent to Zone B, zones C and D, sized 26,400 and 16,000sqm, will see the development of the hotel, convention and exhibition centre.
On the west side of the rail, Zone E, 93,760sqm, is designed to be a theme park and leisure area and Zone F, with 12,800sqm, will hold the SRT office and a residential area for SRT staff.
Nida estimates project development value will total five to eight billion baht ($156.1 million to $249.8 million).
Wadsana Taweesaengsakulthai, senior adviser for Khon Kaen City Development, a consortium of 20 firms in the province, said there should be a medical hub on these plots as the facilities can draw new demand and boost the local economy.
“Khon Kaen has at least two convention centres – one run by the private sector and one at Khon Kaen University – with four upscale hotels,” she said.
“Property development should be anything that can draw demand from outside the province.”
Thai Real Estate Association president Pornarit Chounchaisit said the SRT plots are less attractive as they are not located on the main road – Mittraphap Road – and the new city plan will have an impact on the development plan.
“The city plan is open to everyone claiming their rights. If the SRT does not take care, there may be a change in a new city plan on these plots,” he said.