Bangkok Approves 48-Story Mixed-Use Tower on Silom Road

The Bangkok Metropolitan Administration granted final approval on July 9 for a 48-storey mixed-use tower at the intersection of Silom Road and Convent Road.

Central Bangkok property prices have climbed for six straight quarters, pushing average values to 120,000 baht per square metre and prompting developers to target sites within walking distance of mass transit.

The project sits two blocks from the Chong Nonsi BTS station and will include 320 residential units plus 18,000 square metres of office space. It will also feature ground-level retail that links directly to the existing Silom Complex pedestrian network.

Effects on nearby districts

Buyers in Thonglor and Sukhumvit Soi 24 have already seen asking prices rise 9 percent since May, according to local agency records. The new tower is expected to draw some demand away from those premium pockets while boosting values along lower Silom, where current resale rates average 165,000 baht per square metre.

The 49 percent foreign ownership cap still applies to the residential portion, meaning Thai buyers will hold the majority stake in the condo component. Developers have allocated 180 units for the local market and the rest for foreign purchasers who must navigate the ownership limit through Thai nominee structures.

Next steps for buyers and investors

Sales registration opens in September, with prices starting at 185,000 baht per square metre for units on floors 12 to 25. Prospective purchasers should contact the BMA planning office for updated traffic-impact studies before committing deposits.

Construction is scheduled to begin in the first quarter of 2027 and finish by late 2030, aligning with the next phase of the MRT Orange Line extension that will add an interchange at nearby Wat Mangkon station.

This article is general information only and is not personal financial or investment advice. Consider your own circumstances and seek licensed professional advice before making financial decisions.