The Ploenchit-Chidlom area of Bangkok has targeted 2019, after the completion of several high-end projects including shopping centres, offices, hotels and condominiums, to become the city’s newest luxury hub. Property companies have been building in the area since 2013 with projects worth THB70 billion either completed, being built or scheduled to begin soon, The Nation reported.
“We will launch our luxury condominium at a staring price of THB500,000 per square metre on Ploenchit junction in 2016,” Srettha Thavisin, president of Sansiri, stated. He added that the interior design will be done by a luxury fashion brand from New York
Noble Ploenchit, one of Noble Development’s newest projects, will begin to transfer units to its customers sometime in 2017. SC Asset Corporation is planning to launch a luxury condominium on a three-rai plot of land at Chidlom, the company’s source told The Nation. The company paid the highest price in Bangkok for a plot of land since Quality Houses paid THB1.8 million per square wah for land in the Nana area in 2013.
Siam Sindhorn Co has already set aside investment funds for Langsuan Village, a project that will include a condominium, service apartments, a hotel and retail outlets. The company has targeted 2019 for completion of the project,
The Ploenchit-Chidlom area already has a number of luxury retail and office buildings, including the recently opened Central Embassy. There are four luxury hotels in the area and two are scheduled to be opened by 2019.
A survey by JLL Thailand showed there are 2,400 resale units available at existing condominium projects on Ploenchit and Wireless Roads with prices coming in over THB50,000 per square metre. Some of them are renting for up to THB35,000 per unit per month for a studio type and between THB180,000 and THB250,000 per month for four bedrooms.
“Ploenchit and Wireless roads will be a luxury landmark in Bangkok when all of the new projects are completed in 2019,” a source at JLL (Thailand) said to The Nation.
