2 condo projects near transit system
Two developers yesterday launched two condominium projects worth Bt4.6 billion that are close to Bangkok's mass-transit system and offer prices starting under Bt2 million.
They are targeted to sell out this year.
Tiancheng International Property (Thailand) introduced its project worth Bt4 billion on Rama IX Road with 1,718 units, of which 958 are for the first phase and 760 for the second. The company expects the first phase to sell out this year.
The company was formed this year with registered capital of Bt200 million, of which 46 per cent is held by a China investor with experience in the contracting business and 54 per cent by local investors.
Managing director Vorapong Wiratmalee said yesterday that the company saw strong demand for residences priced lower than Bt2 million per unit, so it will offer condos starting at Bt1.74 million.
The second project, near the Hua Mak station of the Airport Rail Link, begins at Bt1.11 million per unit.
Thanapol Sirithanachai, president of Grand Unity Development Co, a joint venture of LPN Development and Univentures, said this project worth Bt600 million should sell out this year.
"We entered the market for condos priced below Bt2 million per unit when we saw strong demand in this market," he said.
U Condo @ Huamak Station will be its pilot project in this segment, he said.
