Former Dutch embassy land in Bangkok reportedly sold for 20 billion baht

Two Thai property groups reportedly purchased the former Dutch embassy land on Wireless Road, Bangkok, for over 20 billion baht. The acquisition includes a plot of land covering nearly 20 rai and is situated between Wireless Road and Soi Ton Son in central Bangkok. The buyers are identified as the Piyasombatkul group and a company controlled by Chali Sophonpanich.

Chali Sophonpanich is a member of the Sophonpanich family and is the head of City Realty, a developer founded over 35 years ago. City Realty has developed notable projects such as Emporium Tower, the Chatrium hotels, and Shrewsbury International School Bangkok. The land measures 19 rai 3 ngan and 26.6 square wah, which is approximately 7,926 square wah in total.

It is a freehold property and can be accessed from both Wireless Road and Soi Ton Son. The reported sale price of 20 billion baht translates to around 2.52 million baht per square wah. Current valuers had estimated the market rate to be between 2.8 and 3.5 million baht. The two buyers plan to split the site and develop their respective portions separately.

Early plans for the property include branded residences and a health and wellness project. The Dutch government acquired the land in 1949 for a mere 1.85 million baht, and since then, the embassy has relocated to offices within the Dusit Central Park development. Neither the embassy nor the buyers have released any statements regarding the reported sale.