Riverside residents fight proposed tower; developer touts 500 jobs

The Bangkok Metropolitan Administration logged 312 formal objections on July 8 against a 42-storey condominium planned for a former warehouse site at the corner of Charoen Krung Road and Soi 14 in Bang Rak.

The timing coincides with the city’s updated riverfront zoning rules that took effect on June 1, allowing taller buildings within 200 metres of the Chao Phraya in exchange for public walkway contributions. Property analysts note that land prices in this stretch have risen 18 percent since the new rules were published, drawing fresh attention from both developers and long-term residents.

Local flashpoints and resident concerns

Opponents gathered last week at the Riverside Community Hall on Phra Athit Road to present petitions organised by the Chao Phraya Riverside Residents Group. They argue the project will worsen traffic on narrow Soi 14, already used by 1,400 vehicles daily during peak hours, and block afternoon light from the adjacent Riverside Market, a 40-year-old fresh-produce venue that draws 3,000 shoppers on weekends. The group also cites the Bangkok Riverfront Greening Program, which earmarked the warehouse block for pocket parks in its 2024 master plan.

Developer Riverside Landmark Co Ltd counters that the scheme includes a 1,200-square-metre public promenade along the river and will generate an estimated 850 construction jobs plus ongoing maintenance contracts. Company filings submitted to the BMA show projected annual property tax contributions of 42 million baht once the building is occupied, funds the district office has said could support upgrades to the nearby Iconsiam pier ferry services.

Numbers behind the dispute

Average asking prices for new riverside units in Bang Rak reached 185,000 baht per square metre in the second quarter of 2026, according to data released by the Thai Real Estate Association on July 3. The proposed tower would add 312 units priced from 12 million baht, figures the developer says will attract overseas buyers who have driven 27 percent of transactions in the same corridor since January. Residents reply that similar projects completed in 2023 on adjacent streets have already increased local rents by 15 percent, pricing out families who have lived above the market stalls for two generations.

The BMA’s planning committee is scheduled to hold a public hearing on July 22 at the Bang Rak District Office. Residents can submit further comments until July 18 through the city’s online portal or in person at the Riverside Community Hall. Those seeking details on the full application can view documents at the BMA’s urban planning counter on Phra Athit Road between 9 a.m. and 4 p.m. on weekdays.

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.