Bargain land? - translated and summarized from Prachachart Thurakij - December 22, 2003
The 772 million baht purchase of vacant land (33 rai, 78.9
square wah @ 58,000 baht/sq wah) next to the Thai Cultural Center and near MRTA depot by Khunying Photjaman Shinnawatra (the Prime Minister's wife) after also purchasing Ratchada Square is considered a very big bargain indeed. The estimated price of the land before the 1997 economic collapse was 2 billion baht. And now the economy has bounced back from recession.
This is slightly different than what The Nation reported:
Sawangjit said the total values of all land plots seized
by the FIDF from the (bankrupt Erawan Trust) trust stood
at more than Bt2 billion. So The Nation states
that the 2 billion baht figure is not for 33 rai plot alone.
things cost - The Nation,
December 19, 2003
The prime minister's wife has won the bidding for a 33-rai
plot of state land near the National Cultural Centre and
Bangkok's Ratchadaphisek Road. Pojaman Shinawatra bid Bt772
million for the plot, which is close to the route of the
underground rail system, under her own name...
The land was put up for auction by the Financial Institutions
Development Fund (FIDF), the state-run rescue fund controlled
by the central bank, after it was seized from the bankrupt
Erawan Trust finance company in 1995.