U-Tapao development to drive East property, logistics sectors – panel

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The expansion of U-Tapao-Rayong-Pattaya Airport has the potential to put the East’s real estate and logistics industries into overdrive, a panel of business “gurus” told a seminar in Pattaya.

Ronachai Khampiban, assistant governor of the Industrial Estate Authority of Thailand, was joined by Meesak Sunrakchote, chairman of the Real Estate Association of Chonburi; Nattanan Khunajirakhun, chairwoman of the Real Estate Association of Rayong; Wasan Kong­chan, managing director of Modern Property Consultants; and Anawat Nawintham, president of the Thai Building Association, at the May 4 workshop at the Holiday Inn Pattaya.

(L to R) Meesak Sunrakchote, chairman of the Real Estate Association of Chonburi, Ronachai Khampiban, assistant governor of the Industrial Estate Authority of Thailand, Nattanan Khunajirakhun, chairwoman of the Real Estate Association of Rayong, Wasan Kongchan, managing director of Modern Property Consultants, and Anawat Nawintham, president of the Thai Building Association, at the May 4 workshop.
(L to R) Meesak Sunrakchote, chairman of the Real Estate Association of Chonburi, Ronachai Khampiban, assistant governor of the Industrial Estate Authority of Thailand, Nattanan Khunajirakhun, chairwoman of the Real Estate Association of Rayong, Wasan Kongchan, managing director of Modern Property Consultants, and Anawat Nawintham, president of the Thai Building Association, at the May 4 workshop.

The session aimed to analyze the future prospects for property investment and logistics in the region as the government moves to make the Eastern Seaboard a hub for Southeast Asia.

Panelists said the eastern coast of Thailand has always been an attractive location to invest since it has many resources to offer, including tourism, beautiful beaches and tourist attractions. It is also known for major industrial sites in Rayong and Laem Chabang. This is why it has been named the Eastern Economic Corridor by the government.

Property investment and land values are expected to shoot sky-high with guaranteed returns on a yearly basis, the panel said.

Driving that is the redevelopment of U-Tapao into another hub airport for the country. As part of those plans, major industrial estates will be connected with expanded highways and rail routes.

U-Tapao is considered another major center for transportation and is expected to be preferred more within the next 2-3 years. In about five years, the experts predicted an increase in investment from Thai and foreign buyers, particularly in property and real estate.

U-Tapao currently can host up to 5 million people per year and is now officially named the third international airport hub in Thailand. It already has many international flights and has potential to become one of the many hubs in Southeast Asia. It also offers maintenance, repair and overhaul services, air cargo logistics and a training center.

Among the major infrastructure projects expected to boost U-Tapao will be the Buraphawitee-Pattaya highway project stretching 68 kilometers. This project is aimed to connect Laem Chabang to the Pattaya Motorway and to Maptaphut.

Another is the railway project from Sriracha to Chachoengsao, Klong 19 and Kaeng Koy at 106 kilometers. This rail route is aimed to connect Laem Chabang Port with other potential high-speed routes.

With these routes, railways and transportation by air to connect three provinces including Chonburi, Rayong and Chachoengsao will be a great asset for the Eastern Seaboard. However, major projects come with both pros and cons as they are lengthy and require huge budgets.