Bangkok’s Newest Central Business District Rama IX- Ratchada!

The landscape of Bangkok is evolving rapidly, with the Rama IX-Ratchada area emerging as a pivotal zone of growth, particularly as the city's new Central Business District.

For years, Bangkok’s Central Business District (CBD) has been the epicenter of commerce, retail, and leisure activities, with areas like Sukhumvit, Silom-Sathorn, and Ploenchit-Lumpini at its core. This concentration of businesses and prime real estate transformed the CBD into a bustling hub, attracting commercial and retail developers, as well as lifestyle establishments such as restaurants, coffee shops, and malls. As a result, the CBD became not only a place to work but also a lifestyle destination. However, this popularity has led to skyrocketing real estate prices and a scarcity of developable land, presenting challenges to both businesses and residents operating within these prime areas. 

In recent years, Bangkok has witnessed record-breaking land acquisitions, such as the sale of the Australian Embassy plot on Sathorn Road for 1.45 million baht per square wah and SC Asset’s acquisition of an 880 square wah site on Langsuan Road for 3.1 million baht per square wah. These escalating land prices have had inevitable implications, including lifestyle inflation, higher living costs, and increased operational expenses such high office space costs for businesses in the Central Business District.

As a response to these challenges, a natural shift is occurring, with businesses and residents seeking alternatives further from the CBD while still maintaining easy access to business and commercial areas. Rama IX-Ratchada has emerged as a prime beneficiary of the crowding-out of the CBD and urban shift to neighboring districts, this is in large part due to its strategic location and excellent connectivity! 

Rama IX-Ratchada Connectivity and Convenience 

Rama IX-Ratchada boasts convenient access to the MRT Blue Line, enabling seamless travel to the Asoke and Silom business districts. Residents of the Rama IX area also have access to the Airport Rail Link (ARL) which connects Central Bangkok directly to Suvarnabhumi International Airport. Additionally, major roads like Sukhumvit, Asoke, Din Daeng, Ratchadaphisek and Vibhavadi Rangsit are easily accessible. This proximity to Asoke, an established business and office hub, has made Rama IX-Ratchada a natural extension of the Central Business District.

This trend is evident as more Central Bangkok residents and businesses relocate to this area. Notably, the Stock Exchange of Thailand moved from Asoke to Ratchadaphisek Road in Ratchada, marking a significant shift in the area’s economic landscape. Moreover, the presence of the Chinese Embassy has inadvertently attracted a vibrant community of Chinese expats and businesses, leading to the neighborhood north of Rama IX-Ratchada called Huai Khwang being dubbed the “New Chinatown” due to its proliferation of Chinese retail outlets, restaurants and businesses. 

Commercial and residential developers quickly seized the opportunity presented by the Central Business District’s expansion effect and the increasing demand for locations like Rama IX-Ratchada. This development frenzy has firmly established Rama IX-Ratchada as the New Central Business District!

The Rise of Rama IX-Ratchada as a New Business Hub

The landscape of Bangkok is evolving rapidly, with the Rama IX-Ratchada area emerging as a pivotal zone of growth, particularly as the city’s new Central Business District. This transformation is driven by a combination of infrastructure enhancements and commercial expansion, reshaping the area into a magnet for both businesses and residents.

Enhanced Connectivity through Mass Transit Expansion

A key factor in this evolution is the ongoing expansion of Bangkok’s mass transit systems, the BTS and MRT, which are extending their reach to provide unparalleled convenience and connectivity. A notable milestone is the impending completion of the MRT Orange Line. This extension will connect the Thailand Cultural Centre MRT station directly with the Minburi District, turning the Thailand Cultural Centre into a crucial commuter interchange. The impact of this development will be significant, increasing foot traffic and accessibility to the Ratchada neighborhood, thereby enhancing its appeal as a commercial and residential area.

Surge in Commercial Developments

Complementing the infrastructural advancements, Rama IX-Ratchada has experienced a boom in commercial developments, with several A-grade office complexes rising in recent years. Noteworthy among these is the G-Tower by Grand Canal Land (now under Central Pattana’s umbrella), a distinctive G-shaped building offering 66,000 square meters of column-free office space. 

Close by, the Unilever House presents a 12-story office tower with a substantial area of 46,000 square meters. Further enhancing the business landscape, the AIA Capital Center Tower, a 34-story A-grade office building, adds another 54,000 square meters of office space along Ratchadaphisek Road. Alongside these new developments, the area also boasts numerous high-quality B+ Grade Office Towers, contributing to its growing status as a business hub.

Future Developments

Initially, the area’s development was catalyzed by the announcement of The Super Tower by Grand Canal Land (GLAND), an ambitious project envisioned as a 615-meter-high tower with 125 floors, valued at 18 billion baht. However, the project’s discontinuation following CPN’s acquisition of GLAND highlights the dynamic nature of urban development. CPN’s strategic acquisition not only demonstrates its commitment to the area but also opens the door for future commercial or mixed-use projects on the substantial plots of land it now controls next to the Rama-9 intersection.

The continuous development and rapid transformation of the Rama IX-Ratchada area underscore its potential to further solidify its position as a desirable location for businesses and residents alike. With strategic infrastructure improvements and a surge in commercial developments, the area has consolidated its position as Bangkok’s new Central Business District, promising a vibrant future for its stakeholders.

Rama IX-Ratchada: A Vibrant Lifestyle Hub for Young Professionals

Rama IX-Ratchada stands out as a dynamic residential neighborhood, blending the elements of business, lifestyle, and leisure to cater especially to the preferences of young working professionals. This area is a testament to urban living that harmonizes convenience with vibrant living spaces.

The neighborhood is a shopper’s paradise, boasting an array of malls that cater to every need. Fortune Town is the go-to destination for electronics and appliances, offering a wide range of products under one roof. Meanwhile, Central Plaza Grand Rama 9, sprawling over a 15-rai plot, is home to flagship stores such as Tops Supermarket, Robinson, and Power Buy, providing residents with a comprehensive shopping experience.

For those who seek a mix of shopping and entertainment, the Esplanade Cineplex Ratchadapisek in the Ratchada section is a perfect spot. This mall features a diverse selection of shops, eateries, and restaurants, ensuring a leisurely experience for all visitors. Adding to the neighborhood’s allure is The Street Ratchada, a 24-hour lifestyle mall that hosts over 200 commercial and retail tenants. It is particularly popular among the younger crowd for its trendy eateries, cafes, concept stores, and a supermarket, catering to their distinctive lifestyle needs.

Rama IX-Ratchada is not just about shopping and dining; it also offers a vibrant nightlife scene. The neighborhood is home to Jodds Fair Rama 9, a bustling night market where food stalls and vendors offer a variety of items. Moreover, the area’s proximity to numerous bars and nightlife venues, especially the renowned RCA, makes it a favorite among those who enjoy evening outings and social gatherings.

This eclectic mix of amenities and attractions makes Rama IX-Ratchada an ideal living space for those who desire a lifestyle that combines the convenience of urban living with the pleasures of leisure and entertainment. It is a neighborhood that truly caters to young professionals seeking balance between their professional and personal lives, offering a unique blend of activities and spaces that cater to their diverse interests and needs.

Rama IX-Ratchada’s Flourishing Residential Market

The allure of Rama IX-Ratchada as a burgeoning business hub, coupled with its growing popularity among young working professionals, has significantly impacted the residential real estate sector. This dynamic neighborhood has become a hotspot for those seeking modern urban living, reflected in the robust activity of major residential developers and the attractive financial returns on investment properties.

The demand for residential spaces in Rama IX-Ratchada is underscored by competitive rental rates, averaging between 500-550 baht per square meter. This affordability, combined with the area’s appeal, has contributed to a healthy real estate market. According to DDProperty, one of Thailand’s leading real estate portals, the area boasts an average gross rental yield of 5% and capital gains of approximately 8% per year. These figures highlight the area’s viability for both property investors and residents alike, offering a blend of immediate returns and long-term capital growth.

The confidence of major developers in Rama IX-Ratchada’s potential is evident in the numerous ambitious projects that have been completed in recent years. AP (Thai)’s Life Asoke Hype is a prime example, featuring a 40-story tower with 1,253 condo units. This development is tailored to the modern urbanite, offering co-working spaces, a sky pool, and verdant green areas for relaxation and socializing.

Similarly, Ananda Development has made its mark with Ashton Asoke Rama 9, a luxury residential complex consisting of two towers, Alpha and Omega, with a total of 599 units. This flagship project emphasizes modern luxury living, providing amenities such as a sky pool, sky lounge, and fitness center to cater to the high standards of its residents.

Origin Property’s Knightsbridge Space Rama 9 further complements the neighborhood’s residential offerings, providing convenient and comfortable living spaces designed to meet the needs of today’s city dwellers.

The involvement of other notable developers like Sansiri, Areeya, and Pruksa only adds to the diversity and vibrancy of Rama IX-Ratchada’s real estate market. Each developer brings its unique approach to residential living, contributing to a comprehensive range of options for potential homeowners and investors. This variety ensures that Rama IX-Ratchada remains a hotbed for innovative residential projects, catering to a wide spectrum of preferences and lifestyles.

In summary, the residential real estate market in Rama IX-Ratchada is thriving, fueled by the area’s growing appeal, attractive investment returns, and the innovative vision of leading developers. As the neighborhood continues to evolve, it solidifies its position as Bangkok’s NEWEST Central Business District! 

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