A pair of luxury condo projects in the Langsuan area has been launched by Siam Sindhorn Co. The projects are worth THB 3.5 billion combined and the company is targeting to have 50 per cent of the 2 developments sold before year’s end, reports local media.
Siam Sindhorn, a subsidiary of the Crown Property Bureau, will build the projects at its Sindhorn Village complex. The mixed-use development is located on Langsuan Road in the centre of Bangkok and will have a number of luxurious components once finished.
“Purchasing power in the luxury segment remains strong. Buyers include those looking for a unit for their kids or for use during weekdays. Some invest for capital gain in the future,” says Siam Sindhorn Executive Director Kajohndet Sangsuban, to the Bangkok Post.
The new projects are Sindhorn Langsuan and Sindhorn Tonson. Sindhorn Langsuan is a 14-storey tower on Sarasin Road that will have a total of 20 units. The 17-storey Sindhorn Tonson will also be built along Sarasin Road and have 59 units upon completion. All units will offer views of Lumpini Park.
Each unit will be sold on a leasehold contract that consists of a 30 years plus 30 years agreement. Siam Sindhorn is the project’s developer and landlord meaning it will be easier for buyers to obtain an extension of the leasehold making this contract safer.
Siam Sindhorn will invest a total of THB 26 billion on the Sindhorn Village project. In addition to the newly launched condo projects, the complex will have a low-rise condo, a high-rise condo, a hotel, and a serviced apartment development. The targeted completion date is in 2019.
“From the concept design stage, we have spent 6 years on this project, our 1st residential development. It is now 70 per cent completed. It is not only about project completion but also the operation and maintenance that follow,” says Kajohndet.
Featured Image via www.sindhornresidence.com
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