Thailand property developer Sansiri will be launching its latest project simultaneously in three countries later this month, tapping on increasing interest from overseas investors in Thailand properties.
The company will hold presales events for its new The Line Jatujak-Mochit development in Singapore, Hong Kong, and Thailand on May 30 and May 31, a development the company claims will create investment opportunities around Bangkok’s upcoming transportation hub area, Mochit – Bang Sue, with the project some 350 metres from the BTS and MRT mass-transit networks.
This will be Sansiri’s largest project investment to date valued at THB5.6 billion.
The vibrant neighbourhood offers accessibility, shopping and the largest central green spaces in Bangkok. According to Sansiri’s own 2014 Foreign Data Analysis, foreign investors, particularly from Singapore, Hong Kong and China, rank as the top foreign buyer of units at a combined 58 percent.
These buyers and investors, according to research, have already expressed strong interest in this area due to the emerging values for both the present and in the future, along with a strong developer record of accomplishment in the premium condominium segment.
Prices for residential units at The Line Jatujak – Morchit range from THB4 million to THB20 million.
Apichart Chutrakul, Chief Executive Officer and Co-founder of Sansiri, said: “Singapore, Hong Kong and South China are all within close geographical proximity to Thailand. Popular Thailand destinations such as Bangkok and Phuket are just a short flight away, making them high-potential markets for Sansiri.
“We’ve seen strong interest from Singapore buyers in the recent years, with Singapore being the second largest group in Sansiri’s Top 10 International Buyers by units at 24 percent.
“For the first time, we are ready to launch presales of our upcoming project in three international markets simultaneously in order to offer a valuable, time-sensitive opportunity to foreigners and our strong segment of Thai buyers, who are young pioneering spirits that value lifestyle convenience and require good accessibility to work in the city.”
Dubbed by some analysts as Bangkok’s upcoming transportation hub, the MoChit area is recognised as home to the internationally famous Chatuchak Weekend Market – one of the largest outdoor weekend markets in Asia. Also close by is the Or Tor Kor Market (The Ministry of Agriculture and Cooperatives Market) which was ranked fourth in CNN Travel’s “World’s Best Fresh Markets” report.
The 43-storey condominium will boast 841 residential units that range from one- to three-bedrooms, and sit on five rai of land. It directly faces three parks – Chatuchak, Queen Sirikit and Suan Rot Fai – the largest green spaces in Bangkok. Also planned is a mini retail shopping strip in front of the project, which will connect directly to Mochit BTS station.
The Line Jatujak-Mochit is set for presales in three Asian destinations: The Ritz- Carlton, Singapore; The Park Lane, Causeway Bay, Hong Kong; and The Line Jatujak-Mochit’s sales gallery in Bangkok, Thailand, during May 30 and May 31.
The project is due for completion in November 2017 and will be managed by Sansiri.
Image: Artist’s impression of The Line Jatujak-Mochit.
Andrew Batt, International Group Editor of PropertyGuru Group, wrote this story. To contact him about this or other stories email andrew@propertyguru.com.sg
