BANGKOK — The State Railway of Thailand (SRT) board has awarded the 20-year trading concession for 47,675 square metres of space at Krungthep Aphiwat Central Terminal to PGWR Consortium, a new player in the sector.
SRT Governor Worawis Amrapal said that PGWR Consortium submitted its bid in the official tender dated March 7, 2023 for the commercial use of space in the main terminal. Originally, three companies had acquired the tender documents: Central Pattana PCL, King Power Suvarnabhumi Co, Ltd., and PGWR Consortium.
In the end, the PGWR consortium was the only group to submit a proposal. On June 12, 2025, the SRT Board of Directors approved the award of the concession to this consortium.
$4.8 Million Guaranteed Revenue in Year One
The PGWR consortium, although new on the market, proposed a minimum guarantee of 79.9 million baht ($2.4 million) to SRT for the first year, in addition to monthly rental fees.
They also offered: Monthly rental fee: 500 baht/sqm, annual inflation-linked price increases based on a 3-year average of the consumer price index announced by the Ministry of Commerce, and a service charge for common areas: 150 baht/sqm/month (about $4.57), subject to a 10% increase every 3 years.
Taken together; rent, minimum guarantee and service fees, the SRT is expected to generate 158.6 million baht ($4.82 million) in total revenue in the first year.
62 Government Contracts in Portfolio
The PGWR Consortium consists of Prem Group Engineering Co. Ltd. and Warapattanasub Co, Ltd.
Prem Group Engineering Co., Ltd. was founded on 21 September 2006 and specialises in research, design, development and IT consulting as well as project management, system installation and maintenance. The company has earned a reputation for developing and integrating advanced technologies into operational systems.
It has secured 62 government contracts worth over 1.6 billion baht ($49 million), with major clients including:
- Ministry of Finance
- Department of Fisheries
- Traffic Police Division
- Royal Thai Police
- Bangkok Metropolitan Administration
- Expressway Authority of Thailand
- BTS Group Holdings PCL
- Mass Rapid Transit Authority (MRTA)
- Local Administration Department
- Siemens (for MRTA project)
- Singapore Technologies Electronics (STE)
- Sumitomo Corporation (Japan), among others
Flagship Project: City Park Green Mall
WARAPATTANASUB Co., Ltd. is a property consultancy and development company that saw a remarkable retail expansion in 2016 with the opening of City Park Chaeng Watthana – Muang Thong Thani, the first green mall in western Bangkok.
This project, worth over 1 billion baht ($30.5 million), spans 21 rai (approximately 8.3 hectares) and combines urban lifestyle with nature. Inspired by the iconic areas of New York City; Times Square, Fifth Avenue and Central Park, the shopping centre offers retail shops, services and recreational areas in a landscape-oriented design.
It is strategically located with road connections to Chaeng Watthana–Vibhavadi–Muang Thong, Tiwanon–Pak Kret, Pracha Chuen and Si Saman roads.
Thailand’s Main Railway Hub
Krung Thep Aphiwat Central Terminal, also known as Bang Sue Grand Station, serves as Thailand’s main railway hub. The facility, situated on the border between Chatuchak and Bang Sue districts, officially replaced the historic Hua Lamphong railway station as the country’s central terminal when long-distance rail services began operating from the new location on January 19, 2023.
The terminal stands as Southeast Asia’s largest railway station, featuring 26 platforms extending up to 600 meters in length. The massive complex offers 274,192 square meters of usable floor space across a 919-acre site on State Railway of Thailand-owned land. The 15-billion-baht ($458 million) project includes maintenance facilities for both diesel and electric train operations.
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