Massive waiting list for large project

lumpini-condotel

Lumpini Condotown Ram-Indra-Nawamin is Bangkok’s latest economy condominium project, in which property firm LPN Development is claiming “maximised useable space at a reasonable price”, by offering units with a floor space of 25 square metres for a starting price of Bt699,000.

CEO Tikhamporn Plengsrisuk said the project was designed to meet strong demand for residential units priced below Bt1 million.

The project will have four high-rise buildings of more than 25 storeys, housing a total of 2,518 units, on 14.5 rai of land in the Ram-Indra-Nawamin area. It will be designed in modern contemporary style.

Presales will open this weekend for the first two towers. They will have only one-bedroom type units with floor space of 25-26 square metres. Out of concern for the lifestyle of its customers, the company has separated the units into a living area, kitchen and bedroom.

“We’ve conducted research into what our customers want, and have tried to combine more functions [into this floor space] to serve with customers’ demand,” said managing director Opas Sripayak.

Entering the door, visitors will see the bathroom, living area and kitchen. The bedroom will be designed within the room, opposite to the terrace.

Outside, the developer is providing three large gardens. The project will also have a lobby, a multipurpose area, a fitness room, a children’s park and commercial space on the first floor.

The company will open presales on Saturday but already has a waiting list of about 6,000 customers interested in buying, Opas said.

The first presales will involve only 1,500 units out of a total of 2,518. LPN Development wants to gauge customer reaction to the project’s new concept before proceeding with the rest.

“If we get more positive feedback from our customers, that may decide a new model for the Condotown project in the future,” he said.

The company has applied for the project’s environmental-impact assessment and a construction licence. It expects to start construction next month and finish in 2011.

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 ( 56 )
Website: http://www.nationmultimedia.com

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