Habitat Group to focus on Bangkok for its latest projects
The company has plans to launch 5 new projects valued at bt5 billion combined in 2018 with several of these set for the Thai capital.
LEROY Ruamrudee ultra luxury resident and another three luxury condos are planned in the Thonglor area plus other projects planned for Pattaya .
“We believe we will make better sales goals which will be 3 billion baht and we are aiming for 30 more percent of foreigner customers.”
said Habitat Group Chief Executive Chanin Wanidwong
Habitat Group have built a great reputation in Pattaya over the last 5 years and are now looking towards the Bangkok property with 4 luxury projects planned this year.
The first project will be The LEROY Ruamrudee in Soi Ruamrudee. The upmarket ‘downtown’ area boast some of the most expensive land prices in Bangkok with prices in the region of the bt1.9 million per sqm.
The first stage will be a luxury housing project valued in the region of bt250 million on 2,160 sqm comprising of two seven-storey duplex houses. Each will be located on a 60 square wah plot with a usable area of 1,000 sqm, an elevator and a swimming pool.
Home prices start at bt50 million.
“There is demand for low-rise houses in the central business district among wealthy families whose businesses are in the inner city.”
“They prefer living downtown,” said chief executive Chanin Wanidwong.”
“On Chidlom, Phloenchit, Lang Suan and Wireless roads, almost all residential supply is condominiums and most are priced at bt300,000 per sqm or more.”
Completion time for LEROY Ruamrudee is the end of this year’s first quarter.
The other three projects in Bangkok will be low-rise condominiums under the Walden brand, located on Sukhumvit Sois 23, 31 and 39.
Each will have fewer than 100 units priced at bt170,000-220,000 per sqm.
Mr Chanin said
“the shift to the Bangkok property market requires more funding than property development in Pattaya, as investment costs in the capital are significantly higher.”
“In Pattaya, the company spends bt40-100 million per rai to acquire land for property development. The comparable figure in Bangkok is bt300-400 million per rai. “
Although focusing on their newest projects in Bangkok doesn’t mean Habitat Group have forgotten Pattaya and have plans also to keep launching projects in the resort town.
A new condo project worth bt800 million will be launched in Pattaya’s Wongamat area next month.
Habitat Group is also well known for its investment schemes.
“Every project we launch and develop in Pattaya will come with a rental program in which we offer a guaranteed yield of 7% per year through the first 5 years. This concept got good feedback from investment buyers in Bangkok, also Thailand property market attracts Chinese, Singaporean, Taiwanese, Hong Kong investors.”
“We have more and more of these investors “Our project is targeting foreigner customers and hopefully we will make 3 billion in the next 3 year” says Chanin.”
by Vanida Lou