Several luxury residential property developers from Thailand are now focusing on the country’s Eastern Seaboard. With the Thai government investing heavily in its Eastern Economic Corridor project, there is now an opportunity for companies to build more upscale developments here.
A total of THB1.5 trillion in public and private investments will be made during the next 5 years in the economic zone, which includes the Chonburi, Rayong, and Chachoengsao provinces. This is part of the country’s Thailand 4.0 plan, a 20-year national strategy. The investments will include the expansion of the U-Tapao International Airport and a high-speed railway line linking Bangkok and Rayong.
“With huge amounts of investment being injected into Thailand’s Eastern Seaboard, including the new high-speed railway that will cut travelling times to and from Bangkok, now is the perfect time to invest in this up-and-coming area,” says Charn Pirapokin, President of Siam Express Co, Ltd and a key investor in Sunplay Bangsaray, an upmarket retirement community being developed in the corridor.
Sunplay Bangsaray is one of the many luxury projects being built in the region. The gated community has an active lifestyle concept and is targeting homeowners over 50-years old who are looking for a place to retire. The development is spread out over 28 hectares of land near Pattaya. The villas at Sunplay Bangsaray feature private pools, planted rooftops, and many other high-end amenities. The pool villa portion of the project is scheduled to be finished in 2020.
Sunplay Bangsaray will also have a total of 70 condo units and a club house. The Sunplay Club will serve as a meeting place for residents and have an infinity swimming pool as well as dining options. This area is set to be completed next year.
The housing markets in the Eastern Seaboard area are already starting to warm up. Chon Buri’s housing market grew to a value of THB10 billion during the 2nd quarter of this year. This was a 15 per cent increase from the 1st quarter while neighbouring Rayong’s housing market rose 17 per cent.
This story appeared on property-report.com
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