Nation Thailand
Retail and mixed-use boom pushes Siam land values to THB4m per square wah
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◌ Single Source
Retail and mixed-use development around Siam Square and the Pathum Wan intersection is reinforcing the area’s status as one of central Bangkok’s most valuable commercial districts, with land values now estimated at 3.8–4 million baht per square wah.
Key facts
- Stretching along Rama I Road, much of the prime land is owned and managed by Property Management of Chulalongkorn University (PMCU)
- Land values in the area have continued to increase, rising by an average of at least 5–6% a year, according to Wasan Kongchan, managing director of Modern Property Consultants Co Ltd and president of the Real Estate Sales and Marketing
- Opened in 1968, the cinema operated for 50 years before closing on May 31, 2018
- It permanently closed on July 5, 2020, after operating for more than five decades.
- The development is scheduled to open in phases from 2027 and is expected to become another major component of the wider redevelopment of Siam Square and the Pathum Wan intersection area.
- Under the fourth revision of Bangkok’s comprehensive city plan, which is expected to take effect around late 2027, the area will remain part of the capital’s central business district and retain its classification for commercial land use.
Summary
Stretching along Rama I Road, much of the prime land is owned and managed by Property Management of Chulalongkorn University (PMCU). The district is served by the BTS Green Line, with Siam station acting as a key interchange between the Silom and Sukhumvit lines and providing connections to surrounding parts of Bangkok.
The concentration of major shopping centres has made the area one of Bangkok’s most prominent gathering places for Thai and international visitors, particularly younger consumers.