Another Thai developer is looking to increase the number of projects it launches in 2017. Sena Development Plc is set to unveil 10 new residential projects this year, including 2 condo developments as part of a joint venture with Japanese company Hankyu Realty Co., local media claims. The new launches are worth THB 12 billion combined.
The developer will focus mostly on condo projects this year with only 1 of the new projects being a low-rise complex. Of the launches, 3 were postponed from the 4th quarter of last year and will now take place in 2017.
“The condo market in Bangkok is very competitive but in many locations, like those near mass transit lines, the condo absorption rate is better than low-rise houses. Our projects will target young workers and the middle- to lower-end segment in locations we are confident have strong condo demand,” tells Sena Deputy Chief Executive Kessara Thanyalakpark to the Bangkok Post.
There will be a total of 9 condo developments launched by Sena including 2 as part of its joint venture development with Hankyu Realty, a subsidiary of Hankyu Hanshin Holding Group. The pair’s first launch will be The Niche Pride Taopun. The condo will be 40-storeys and is located on a 3-rai site close to the Tao Pun station. When completed, it will have over 700 units.
Sena expects that project to launch later in the year. The developer is currently waiting for the missing link between the Blue Line and the Purple Line to be finished before putting the condo on the market. “The project will tap into the upper middle-end segment, but with affordable prices,” Kessara says.
The other condos will be spread throughout Bangkok. Locations for the new projects include Sukhumvit Soi 70, Sukhumvit Soi 113, Sukhumvit Soi 50, Pak Kret, Bang Kradi, Bang Khae, Ram Intra and Lam Luk Ka. The projects all vary in size with some being 8-storey condos and the others expected to be taller.
Featured Image: The Niche Pride Thonglor Phetchaburi
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