Developers concentrate on Watcharaphon-Ram-Indra

Bangkok’s residential development spotlight has shifted to the city’s northeastern suburbs, where under the pressures of changing consumer demand in the current tough economic climate, property developers are rushing to compete on what they see as the city’s most promising location.

The companies are expected to launch new residential projects in the Watcharaphon-Ram-Indra area with a collective value of about Bt10 billion in the second quarter of this year.

laddarom-watcharaphon

Quality Houses will launch its latest detached-house project, Laddarom Watcharaphon-Ratanakosin, which will have a market value of Bt2 billion. Its concept will be Resort in the City, and prices will start at Bt8 million per unit.

Sansiri will launch Srethasiri Wongwan-Ram-Indra, worth nearly Bt1 billion. Prices will range from Bt4.99 million to Bt12 million per unit.

Prinsiri will go ahead with its latest townhouse and shop house project, Baan Prin at Ram-Indra-Watcharaphon, worth more than Bt1 billion.

Land and Houses plans to open its latest detached house project, Chaipreuk Ram-Indra-Watcharaphon, before the end of June, with prices starting at Bt4.7 million per unit, giving the entire project a value of Bt1.7 billion.

Preuksa Real Estate will also launch a detached-house project under the Passorn brand at Watcharaphon-Jatuchote in the second quarter. It will have a market value of Bt2.05 billion.

Preuksa’s director and chief operating officer Prasert Taedullayasatit said there was strong demand for residences in the Watcharaphon-Jatuchote area, particularly if prices were below Bt5 million per unit.

Although there is strong competition in the area, Preuksa believes that its project design meets current consumer demand and the development will have sufficient brand value to attract buyers.

Prasert said the location had facilities to provide for the lifestyle of home-owners who wanted to live in a detached house rather than a condominium. It also had better transport infrastructure than other locations, including an expressway and the ring road.

The KE Land Group is developing both a detached-house project and a retail project called Crystal, on Ram-Indra Road.

Managing director Kaveepan Eiamsakulrat said the location suited the lifestyle needs of customers who wanted to live in a detached house and who needed good transport infrastructure for daily commuting to the central business district.

KE Land Group has decided to develop a Crystal Design Centre, worth Bt1 billion, in the Ram-Indra area after launching its detached house project and the Crystal retail project, Kaveepan said.

LPN Development will go ahead with a condominium project at Ram-Indra-Laksi.

Managing director Opas Sripayak said the company had seen strong demand for residential projects in the area.

“There is strong competition in this location, but only if property developers offer products to match customer demand. Ram-Indra-Watcharaphon has continued to be the best location for property developers because consumers’ purchasing power to buy in this location has continued to grow,” he said.

About the author

Somluck Srimalee Somluck Srimalee
Somluck Srimalee is a journalist with The Nation, Bangkok's independent English language newspaper and specialises in the property and real estate sectors.
Other posts by Somluck Srimalee ( 52 )
Website: http://www.nationmultimedia.com

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