Nirvana Daii Plc announced that it is set to launch 2 luxury residential projects this year and hopes to bring in THB3 billion by the close of 2017, reports local media. The pair of new projects is worth an estimated THB8 billion combined and each one is expected to be launched in November.
Nirvana Daii was established earlier this year after Nirvana Development Ltd and Daii Plc merged to form a single company. The developer earned THB1.9 billion in presales during the first 6 months of this year, but will take the new projects overseas to help boast that total.
“We will launch the condo project in Bangkok after Singapore. Launching super-luxury condos overseas, before Thailand, can help establish prices and prove how foreign buyers perceive the project,” says Nirvana Daii Chief Executive Sornsak Somwattana to The Nation.
The 1st project to be launched by Nirvana Daii later this year is the Banyan Tree Residences Riverside Bangkok, a super-luxury condo in the Khlong San area of Bangkok. In July, Nirvana Daii launched the luxury condo project in Hong Kong and found buyers eager to acquire units in the development.
Now the company will set up a sales office in Bangkok and begin targeting Thai buyers who usually want to see progress made on a development before purchasing a unit. Construction on Residences Riverside Bangkok already began and the development should be finished by the end of next year.
The other development to be launched this year is Srinakarin-Rama 9, a townhome project in the Bangna area of Bangkok. The project is worth THB1.9 billion and will have 175 units spread out over a 273-rai plot on the new Srinakarin-Rom Klao Road.
“The high-priced housing market in Bangkok’s eastern zone is healthy as the location is enjoying a windfall from the Eastern Economic Corridor,” says Sornsak.
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