Thai media reported on an ambitious development plan unveiled during a recent real estate seminar titled “Legal Bundles: Foreign Buying, Leasing, and Investment in Thailand”, held on May 30. Korthong Thongthaem Na Ayutthaya, Deputy Director of the Smart City and Business Center at the Eastern Economic Corridor Office (EECO), revealed that the government has designated 14,619 rai (approx. 2,340 hectares) in Huai Yai subdistrict, Banglamung district, Chonburi for the construction of a new city under the EEC initiative — widely referred to as “Bangkok 2.”
The total investment is projected at 1.34 trillion baht (approx. USD 36.5 billion) with a development horizon until 2037. The new city is designed to support the expansion of U-Tapao Airport and will focus on six key business sectors:
- Regional offices and financial services
- Precision medicine and future healthcare
- International education and R&D centers
- Tourism, sports, and leisure services
- BCG (Bio-Circular-Green) industries
- Residential and mixed-use commercial developments
Land Use Allocation:
- 70% for infrastructure and public utilities
- 30% for usable/mixed-use areas
Phase 1 (2025–2030):
The first development phase will span 5,795 rai, with an investment value of 534.9 billion baht. It will include:
- Basic infrastructure
- Utility systems
- A central business district
- A healthcare and wellness center
- Residential and commercial mixed-use zones (offices, shopping malls, convention centers)
Recent agreements include MOUs with the Industrial Estate Authority of Thailand (IEAT) for BCG development and with the Sports Authority of Thailand (SAT) for a 1,500-rai sports complex. Other zones — including housing and mixed-use developments — are still seeking investors. All projects will benefit from special EEC investment privileges.
Projected Impact:
- Housing capacity for 350,000 residents
- Creation of 200,000 jobs
- Economic growth spillover for Pattaya and U-Tapao Airport areas
Upcoming Timeline:
- 2026: Infrastructure tenders to open (PPP model)
- 2027: Land clearance begins
- 2028: Start of private sector leasing and long-term development (50+49 years)
- 2030: Completion target alongside high-speed rail connecting 3 airports
Korthong emphasized that the EEC smart city aims to become a global top-10 smart livable city and a model for Thailand, meeting international standards akin to Singapore or Hong Kong. It is also designed to address longstanding structural and logistical “pain points” that hinder Thailand’s urban development.
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Quelle/Source: Pattaya Mail, 07.06.2025
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