As competition for tenants and buyers becomes increasingly frenetic, Bangkok's developers are scrambling for superlatives to promote their thmesleves above their rivals. But ask any one of them what Bangkok needs most and the answer is surprisingly consistent, straightforward and down-to-earth.
According to Arthur Napolitano, managing director of Kudo Company Limited, the design-driven developer of upscale projects in and around the city's central business district: "Zoning laws, and the ability of the government and BMA [Bangkok Metropolitan Authority] to enforce a cleaner environment, create more green areas, more sports facilities, better garbage collection, to clean out slum areas in central areas, and make Bangkok a cultural hub in Southeast Asia."
He believes demographic and economic trends especially an expanding middle class combined with a cluster-modelled planning strategy, will give the capital a facelift that will dazzle the city's harshest critics.
Natha Kittiaksorn of Major Development shares these concerns and applauds efforts being made to turn the chaotic capital into a more liveable and orderly city. "If city planners can pull off a comprehensive plan then Bangkok's status as a regional hub could become more than just talk," she said.
The city's new master plan for land use is due for release next June. Surprisingly, it is only the second legally-binding, comprehensive land-zoning plan in Bangkok's history. The first five-year plan was implemented seven years ago, then extended for two years.
It is believed that Bangkok is entering a new phase of development that will produce a balance between economic growth and quality of life and culture. Already, young urban professionals are moving back into the city from the suburbs because the development of public transportation systems is making the city more liveable. The result will be fewer skyscrapers and a lower population density. Location will also play a more significant role as mass transit plans and new zoning regulations come into effect.
Centuries ago the city was modelled after the ancient capital of Ayudha, when it became known as the 'Venice of the East' because its vast network of canals that were vital to its transportation infrastructure. Western planning methods were later introduced during the reign of Thailand's great moderniser, Rama V, and then under the current King, and US-trained planners conceptualised the idea of the "auto city" and brought their ideas to Bangkok, which created the sprawling network of roads and expressways.
Under the new master plan, Bangkok will be transformed from a concrete jungle surrounded by urban sprawl into a global mega-city with six hubs, first-rate public transportation and a revitalised historic centre.
With Bangkok's population increasing at a rate of 0.8 per cent per year due to migration from rural areas, demand for low- and middle-income housing will remain robust. At the same time, investment in infrastructure will draw more people back into central areas as the city, famed for its traffic jams and pollution, is gradually fusing the best of Western and Eastern urban life.