Another significant phenomenon has emerged, bringing together eight leading developers in Thailand: Property Perfect, AP Thailand, Sansiri, SC Asset, Pruksa, CPN, Prow Estate, and Hongkong Land. They are collaborating to develop and launch a prime location that encompasses residential areas, commercial zones, and educational institutions along a single road stretching over 4 kilometers, covering more than 1,300 rai with a development value exceeding 50 billion baht.


According to Mr. Wongkorn Prasithwiphat, Managing Director of Property Perfect Public Company Limited, the story dates back ten years when Property Perfect acquired over 700 rai of land for development. Initially, the Thai Chamber of Commerce University purchased a plot to establish a new university, which is how the road came to be named "Thai Chamber of Commerce Road." However, the university plans have since been put on hold.


From then until now, ten years have passed, and this 4-kilometer road connects Chaiyaphruek Road with Road 345, covering 80 rai with a total construction cost of 400 million baht. If we consider the current value of 1.2 million baht per rai, that amounts to nearly 1 billion baht, not including construction costs. This represents a significant investment in infrastructure for a private sector entity.


This year, Thai Chamber of Commerce Road, which is 4 kilometers long, is:
▪ Only 5 minutes from Chaengwattana
▪ Close to the entrance and exit of the Chaengwattana Expressway
▪ Benefiting from the recently opened Pink Line subway and near Pak Kret Station
▪ The expansion of Chaiyaphruek Road to 10 lanes is scheduled for completion by the end of 2024.
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The total land area amounts to over 1,308 rai (not including the 215 rai of Thai Chamber of Commerce University land). This is a substantial amount of land, and developing it alone would be overwhelming, so portions have been allocated to fellow developers to collaborate on the development. Currently, the combined development value from all eight developers has reached 50 billion baht, with 42,000 households and a population exceeding 75,000 people. It is quite challenging to unite such a large number of developers for collaborative development.


Development projects on Thai Chamber of Commerce Road include:
▪ Property Perfect - Hongkong Land
From 2014-2024, project area 537 rai, project value 18.4 billion baht
From 2024-2028, project area 90 rai, project value 3.5 billion baht
Total project area 627 rai, total project value 21.9 billion baht
▪ SC Asset / Pruksa - Sansiri
From 2014-2024, project area 334 rai, project value 11.1 billion baht
▪ SC Asset / Pruksa AP / Central Pattana Prow Real Estate
From 2024-2028, project area 290 rai, project value approximately 16.5 billion baht
▪ SISB International School
From 2014-2024, project area 19 rai
From 2024-2028, project area 6 rai
Total project area 25 rai, project value 700 million baht
▪ Triam Udom Nakhon Si Thammarat School
From 2014-2024, project area 32 rai
Total
From 2014-2024, project area 922 rai, project value 30.2 billion baht
From 2024-2028, project area 386 rai, project value 20 billion baht
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Property Perfect currently has six ongoing projects on this land, covering 355 rai with a total project value of 14.51 billion baht, comprising 1,520 units.
▪ Perfect Place 86 rai, 372 units, project value 2.475 billion baht
▪ Perfect Park 74 rai, 358 units, project value 1.82 billion baht
▪ Perfect Park 37 rai, 205 units, project value 1.2 billion baht
▪ The Metro 29 rai, 288 units, project value 1.02 billion baht
▪ Market Avenue 27 rai, 105 units, project value 1.4 billion baht
▪ Lake Legend 102 rai, 147 units, project value 6.595 billion baht
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Market Avenue Chaengwattana-Ratchaphruek is located at the heart of Thai Chamber of Commerce Road, connecting Chaiyaphruek Road and Road 345 under the concept of NEW BUSINESS DESTINATION, styled like London. The project is designed to evoke the atmosphere of Covent Garden Market, featuring beautiful European architecture reminiscent of London, complete with a replica of the BIG BEN clock tower as a landmark and large garden spaces that create an English town ambiance, along with ample parking for over 200 vehicles.


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Market Avenue Chaengwattana-Ratchaphruek is a 3.5-story commercial residential building.
▪ Land size 27-3-29.4 rai ▪ Total of 153 plots
▪ Two building types:
- Commercial building with a width of 4 meters, 3.5 stories, land size 21.5 sq.w., usable area 192 sq.m.
- Commercial building with a width of 5 meters, 3.5 stories, land size 26.9 sq.w., usable area 248 sq.m.
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Mr. Mongkut Techolarn, Head of the Horizontal Property Development Executive Team at SC Asset, is one of the first companies to develop projects on Thai Chamber of Commerce Road. To date, three projects have been developed in the price range of 10-30 million baht, with one project already sold out and two ongoing projects:
▪ Bangkok Boulevard Signature Chaengwattana, project area 33 rai, project value 1.56 billion baht, 72 units
▪ Bangkok Boulevard Chaengwattana-Ratchaphruek, project area 26 rai, project value 1.1 billion baht, 82 units. Additionally, there are 70 rai of land on Thai Chamber of Commerce Road awaiting development.


Mr. Witakarn Janthawimon, Deputy Managing Director of AP Thailand Public Company Limited, is preparing to launch the Grande Pleno Chaengwattana-Ratchaphruek project, a premium twin house project valued at 1.25 billion baht, with pre-sales scheduled for June 15-16, featuring 198 units with 3-4 bedrooms and 3 bathrooms, and usable areas ranging from 143-169 sq.m., starting at 6.09 million baht.
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Mr. Anut Kitikulmethee, Senior Deputy Managing Director of Sansiri Public Company Limited, revealed that Sansiri is one of the developers pioneering projects on Thai Chamber of Commerce Road, with two projects in this zone covering a total of 102 rai and a combined value of over 3 billion baht:
▪ Saransiri Chaiyaphruek-Chaengwattana
▪ Else Chaiyaphruek-Chaengwattana
Both projects have received excellent responses and have been sold out.
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Mr. Sorakrit Chalermphairoj, Head of SBU–PS2 at Pruksa Real Estate Public Company Limited, stated that Pruksa has been developing projects on Thai Chamber of Commerce Road since the early days of the road's opening, with two projects valued at a total of 3 billion baht:
▪ Passorn project, single houses priced at 5-8 million baht, which have sold out
▪ The Palm project, single houses priced at 8-15 million baht, expected to close in Q3 of this year, with an additional 33 rai of land awaiting development on this road.
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Mr. Pasu Liptapallop, Executive Director of Prow Real Estate Public Company Limited, is the latest to develop residential properties on this road, with land accessible from two directions: via Road 345 and Thai Chamber of Commerce Road. The company plans to launch a luxury to ultra-luxury project in 2025.
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Mr. Songkran Saeng-arunrung, Head of Residence Operation 5-8 at Central Pattana Public Company Limited, has 75 rai of land on Thai Chamber of Commerce Road, with plans to develop a two-story single house project under CPN Residence.