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Property fund planned to tap wealth from nearby land.
Byline: Wichit Chantanusornsiri
Sep. 8--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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Source: HighBeam Research, Property fund planned to tap wealth from nearby land.