UNDER THREAT - Bang Krachao eyed by greedy speculators
- Bangkok Post, October 23, 2005
... In 1977, the government approved a plan to develop Bang Krachao into a garden city, similar to Singapore's Sentosa Island. About 3.2 billion baht was used in the project, which included a small park called Sri Nakhon Kuenkhan, which was opened in 2003, and a flood prevention wall.
In order to achieve the goal, the government issued a land expropriation decree to reclaim all private property, only to face strong opposition from locals. As a result, only 1,276 rai, accounting for 10% of the total area, was appropriated.
A strict town planning code, which prohibits high-rise buildings and large factories and real estate, contributes enormously to the maintenance of Bang Krachao's ''green'' attributes.
... Mr Sumeth said land prices have increased three-fold over recent years. Riverfront plots could fetch as much as five million baht per rai.