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Mass transit: Property fund planned to tap wealth from nearby land.

Bangkok Post (Bangkok, Thailand)

| September 07, 2005 | COPYRIGHT 2005 Bangkok Post. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

Byline: Wichit Chantanusornsiri

Sep. 7--The government plans to establish a property fund to raise money for land development in areas near the government's seven proposed routes for new Bangkok mass transit systems. Pannee Sathavarodom, director-general of the Public Debt Management Office, said the investment plan of 563.1 billion baht to build seven mass-transit routes would bring up the value of land near train stations.

She said it would be difficult for a private firm to develop such areas because of high investment cost, so some officials were proposing property funds to mobilise capital for such commercial projects.

The government owns ...

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