Companies looking to create desirable projects in Bangkok are now planning bigger, well-planned developments in all market segments, reports local media. There has been a shift towards creating higher-quality projects with cutting-edge features in prime Bangkok areas to justify higher prices these may cost.
“With land prices increasing continually, many developers are thinking about ways to innovate in order to attract buyers and maximise their value propositions. This drive is leading Bangkok into the future because developers are adding technology and sustainable practices to improve the quality of their products while offering more value to end-users. They are doing this by taking a sustainable approach to the living experience and the built environment,” says Aliwassa Pathnadabutr, Managing Director at CBRE Thailand.
Whether they are strictly residential projects or mixed-use developments, many companies are focusing on adding green spaces and new technology. The goal is to make life more convenient for residents, workers and visitors. Mixed-use developments, in particular, have to find ways to cater to all 3 groups since they are likely to have residences, office and retail space.
Magnolia Quality Development Corp is seen as being a leader in this new style of development. A pair of the company’s newest projects, Iconsiam and Whizdom 101 (pictured), are big, mixed-use developments that feature retail and residential space that is part of a master-planned community designed to promote a lifestyle. As more developers follow this trend and build master-planned communities, Bangkok residents will have more choices when it comes to finding a space that suits their specific lifestyle.
“The next 5 to 10 years is an exciting time to be in Bangkok. The many changes that are happening in the built environment will continue to transform the look and feel of downtown Bangkok, and it is hoped that the mixed-use, master-plan concepts featuring more sustainable approaches will ensure that Bangkok people will enjoy a better quality of life.” says Aliwassa
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