The State Railway of Thailand (SRT), a 127-year-old state-owned enterprise and major landholder, has officially transferred the management of its commercial land leases to its subsidiary, SRT Asset Co., Ltd. (SRTA). The handover, completed on November 5, 2024, involves 12,233 lease agreements spanning over 38,469 rai of land nationwide, including 28 high-potential plots valued at approximately 96 billion THB based on appraisal rates.
SRT manages vast land holdings across Thailand, totaling 246,880 rai, with 201,868 rai designated for railway operations and 45,012 rai earmarked for other uses. Of this, 33,761 rai are identified as commercially viable for development. Among the notable properties transferred are parcels in Bang Sue, Makkasan, and Hua Hin, as well as land in major provinces such as Khon Kaen and Hat Yai, intended for joint ventures, real estate projects, and commercial partnerships.
SRTA plans to implement a phased development strategy, starting in 2025 with seven priority projects, including sites in Bang Sue, Phahon Yothin, and Nong Khai. Despite the transfer of management rights, the SRT retains ownership of all assets under its portfolio.
The transfer ceremony included key SRT and SRTA representatives, marking a significant step in optimizing land use and enhancing the agency’s financial sustainability.