Property developer Klass has revealed details of its latest projects in Bangkok – in Siam and Sarasin – with a combined value of more than THB2 billion.
According to a statement from the company, Klass continued to dominate the upscale low-rise condominium market with the introduction of the two new projects on golden central business district land.
Klass Siam (pictured) and Klass Sarasin Rajdamri, the developer said, will offer great value and a diverse lifestyle. It is confident feedback will be positive, as there is still room for growth at the high-end market.
Both projects are predicted to close sales within one month following a pre-sale event on Sunday, May 24, at Bangkok’s Siam Kempinski Hotel, according to the statement.
Thanin Leenabanchong, Chief Executive Officer of developer Klass Assets Co., Ltd., said that its previous low-rise condominium project on Langsuan Road was met with overwhelming success in 2013.
“After that, the company studied the low-rise condominium market seriously and gained in-depth understanding about the needs of the consumers, especially the high-end consumers who are looking for low-rise condominium projects downtown, not far from facilities.
“Such projects are rare, since most condominium projects in downtown areas are high-rise buildings.
“Klass responded to the needs of this group of consumers, and its target consumers are luxury consumers, executives, and expats with high purchasing power who would like to live in downtown Bangkok, look for convenient transportation and live in close proximity to the BTS line.”
Klass Siam is an 8-storey low-rise condominium project with two basement levels, designed in young, modern luxury style. It is located on Soi Kasemsan 2 on Rama 1 Road. The project is worth about THB800 million. There are 79 units, with two unit types – one-bedroom units from 44 to 50 sqm and two-bedroom units from 57 to 84 sqm. Price starts from THB6 million. At present, the project is applying for EIA approval, and construction is expected to begin in the first quarter of 2016.
Klass Sarasin-Rajdamri is located on Sarasin Road, Lumpini district. It is an 8-storey low-rise condominium project with two basement levels, and is designed to offer ultimate exclusivity since there are only 68 units. The parking area offers 100 percent capacity, not inclusive of double parking. Unit size starts from 45 sqm and go up to 135 sqm. Four types are on offer – one-bedroom, two-bedroom, three-bedroom, and duplex with a private garden. Price starts from THB8 million
Both projects are using CBRE as its sales agent.
Aliwassa Pathnadabutr, Managing Director of CBRE Thailand, said the luxury condominium sector has a lot of potential, as there are still demands for downtown condominium for residence and investment.
The consumers in this group have high purchasing power, but the developers must pay close attention to detail to be accepted by the high-end consumers. Location, architecture, and design of the project must reflect a modern and premium character, she added.
Andrew Batt, International Group Editor of PropertyGuru Group, wrote this story. To contact him about this or other stories email andrew@propertyguru.com.sg
