Property giants flock to Nonthaburi’s promising new economic road
Eight leading property developers have come together to jointly develop commercial and residential projects along the Thai Chamber of Commerce Road, an emerging economic road in Nonthaburi province, north of Bangkok, with potential value of 50 billion baht.
Property Perfect Plc, SC Asset Corporation Plc, Sansiri Plc, AP (Thailand) Plc, Pruksa Real Estate Plc, Central Pattana Plc, Proud Real Estate Plc, and Hong Kong Land announced their roadmap of development on this promising road on Friday.
Wongsakorn Prasitvipat, executive director of Property Perfect Plc, told The Nation that the company had built the road in 2014 with a budget of less than 400 million baht on its land to serve as a link between Chaiyaphruek Road and the Nonthaburi Bridge.
Over the past decade, the 4km-long Thai Chamber of Commerce Road has become an attractive location for businesses, schools, and residential projects, he said, adding that Property Perfect alone had developed 13 projects on this road valued at over 20 billion baht on 530 rai (84.8 hectares) of land.
“There are still over 1,300 rai [208 hectares] of land waiting to be developed on this road. It is estimated to accommodate over 4,600 residential and commercial units worth 50 billion baht,” he said.
Wongsakorn pointed out that the economic potential of the road skyrocketed this year following the opening of the MRT Pink Line monorail. The MRT’s arrival sparked the expansion of Chaiyaphruek Road to 10 traffic lanes, to be completed by the year-end, to cope with increasing numbers of commuters and traffic.
Anat Kittikulmethi, Sansiri’s deputy managing director of low-rise development, said the company was among the pioneer developers on this economic road. Sansiri’s two residential projects on over 102 rai (16.32 hectares) worth 3 billion baht were already sold out, he added.
“The Thai Chamber of Commerce Road has a high potential for all urban lifestyles,” he said. “It is located near schools, shopping malls, and provides convenience access to Bangkok and Pathum Thani. We expect to see even higher demand from buyers in the future.”
During the event, each developer showcased their past, current and future projects planned for the Thai Chamber of Commerce Road, including business centres, markets, commercial buildings and a variety of residential projects with prices ranging from 6 million baht to 100 million baht per unit.
