Bangkok: The CFO of MCOT Public Company Limited has disclosed an overwhelming interest from over 40 investors and developers eager to partake in a project to develop a 50-rai plot of land in Ratchada CBD, estimated at a value of 9 billion baht. The strategic location and well-defined access points have been highlighted as key attractions for potential investors. The release of a Terms of Reference (TOR) is anticipated in the first quarter of 2026, with contract signings expected by the end of the same year.
According to Thai News Agency, Ms. Suntariya Wongsirikul, Senior Vice President of Finance and Acting Chief Financial Officer (CFO) of MCOT Public Company Limited, emphasized the significant attention garnered during a market sounding meeting with investors and real estate developers. The meeting focused on the criteria and conditions for submitting proposals for a land lease project intended for commercial development and management. The project involves a 50-1-30.5 rai plot of land located in the Central Business District near Ratchadaphisek Road, valued at approximately 9 billion baht.
Key issues raised by investors pertained to the access and exit routes for the land. Currently, MCOT has a clear strategy. On the southern side, adjacent to Thiam Ruammit Road, an MOU with the Mass Transit Authority of Thailand (MRTA) provides for two 20-meter wide access points. The lessee's rent will depend on the business type conducted. The northern side, which is adjacent to the Thailand Cultural Centre and the Ministry of Culture, has an easement allowing a 14-meter wide access point. Negotiations for a sublease on the western side, adjacent to Watthana Road and currently leased to a private company by the State Railway of Thailand (SRT), are also possible.
The company projects an appropriate rental yield over the lease term of at least 30% of the property's value. The timeline includes announcing the draft Terms of Reference (TOR) early in 2026, inviting development proposals in April-May, followed by a selection process with a final decision by mid-year. An Extraordinary General Meeting is scheduled for August for approval, with the successful bidder to be announced in October and the contract signing expected in November-December 2026.
Should everything proceed as planned, MCOT anticipates revenue recognition starting in 2027 and profit realization by 2028, aiming to boost non-broadcast business revenue to 25-30% within three years. MCOT has been meticulously adjusting the development plan for this land plot over the past five years to align with evolving urban planning demands.