Thailand Real Estate & Property News - Updated from sources around the net

Plus adds two condo projects

Bangkok Post: 25 October 2006

By: Staff Reporters

Plus Property Partners has added two trendy Condo One projects worth 517 million baht in the Yaowarat and Lat Phrao areas, according to chief executive Maytha Chanchamcharat. The 210-million-baht Condo One Soho sits on a 344-square-wah plot in Pom Prap Sattru Phai, close to busy Yaowarat, about 300 metres away from the Hua Lamphong MRT station. The nine-storey building will comprise 54 units sized from 29-67 square metres. Average prices will be 86,000 baht per sq m or a starting price of 2.49 million baht a unit. Sales for the project will start on Friday, and the company expects to close sales within this year due to its prime location. Mr Maytha said that since no condominium project in the Yaowarat area exists because of the scarcity of land and high prices, Condo One Soho would be a historic move in the Thai condominium industry. The other project, the 307-million-baht Condo One Lat Phrao Station is located in Lat Phrao Soi 18, close to the Lat Phrao MRT station. The nine-storey building will house 142 units, sized from 29.12 to 66.16 square metres with an average price of 53,500 baht per sq m or a starting price of 1.399 million baht a unit. About 50% of the units have already been booked since its launch last Friday. Mr Maytha said he believed there was still demand for residential units in the Thai market as proven by the quick sales of the company's Condo One units. Plus this year launched nine Condo One projects totalling 1,500 units. Now only units in Condo One X Sathorn-Narathiwat and Condo One Sathorn are available for sale. The company expects to close sales of all Condo One units within this year. ''The demand is there but it is up to the developers' capacity to understand buyers' needs,'' he said.