With a number of successful projects having already been completed or launched, BTS Group Holdings and Sansiri will continue their successful partnership. The two are expected to develop at least five new condominium projects in 2017, local media claims.
Uthai Uthaisangsuk, Sansiri Senior Executive Vice-President For Business Development And Project Development (high-rise) tells media outlets that his company and BTS plan launch an estimated 25 projects worth a total of THB 100 billion before the end of the decade. Their partnership began last year when they jointly started developing condos.
The pair have developed eight condo projects worth THB 30 billion together with The Line Sukhumvit 71, which was completed in September, being among the most notable projects. The high-rise condo features 291 units, 60 per cent of which have already been transferred to buyers.
Keeree Kanjanapas, chairman of BTS Group, says his group and Sansiri have discussed the possibility of developing residential projects focusing on the upcoming Yellow Line and Pink Line. Sansiri President Srettha Thavisin notes the joint venture has considered developing detached houses and townhouses in addition to condominiums along the two new routes.
The new mass transport projects were initiated under a public-private-partnership scheme by the Mass Rapid Transit Authority of Thailand and come as the government looks to complete several infrastructure improvement projects throughout the country. It has been predicted that between 1.7 million and 2 million passengers per day will use the BTS Skytrain when the Yellow Line and Pink Line are completed and start operating.
Sansiri and BTS Group’s The Line brand has focused building its projects in or around BTS stations like Mo Chit and Phra Kanong. Sansiri has promoted the brand abroad having hosted road shows for The Line in both Singapore and Hong Kong in 2016.
