Thailand Real Estate Magazine

Every unit in Sansiri´s latest Bangkok condominium project have been sold out a full five months before construction is scheduled to start.

Units in the 31-storey Hive, set to be built on the doorstep of Charoen Nakorn BTS station, started from Bt2.9 million and ranged in size from 40 to 99.5sqm. The development will include a swimming pool, garden, fitness room and concierge service.

According to the Assistant Vice President of Sansiri´s marketing department, the Hive´s location has been a major factor in its success: “We are situated right at the escalator up to BTS Jaroen-Nakorn station,” said Samatcha Promsiri. “Looking at Sukhumvit BTS route, there are now many projects along that route already. However, if you look to one side of Thonburi extension we can see a lot of potential. With the BTS crossing Satorn bridge to this side of town, the location is not that far from CBD anymore.”

The area´s potential has not gone unnoticed by other developers, but Sansiri and its subsidiaries were among the first to stake a claim. Promsiri continued, “The area has attracted quite a few of players with new developments being marketed. However, our subsidiary, Plus Property, was among the first to establish the name in that side of town with My Condo and Condo One products.”

There were a number of other factors behind the success of the Architect Gallery-designed project, which will get underway in August and is set to be completed in July 2010, that Promsiri put down to “a mixture of our Sansiri brand, its location, and our as ever efficient design and function with good specification”.

Promsiri added that the experience of the developer should be foremost in the minds of would-be buyers: “That should be one of the first questions that the consumers ask themselves before deciding to buy a unit. You need to look at what has been promised and what has been delivered.”