The Whizdom Anamai NgarmJarearn development has reported sales of 90 percent just one month after its launch.
Sales of more than THB500 million were achieved during the first phase of the three-storey commercial and residential building on Rama II according to the developer Estate Guru Company Limited. Phases two is expected to be launched this month.
Nat Manasomjit. Managing Director of Estate Guru, revealed the development uses an elaborate design concept revolving around modern lifestyle for those who need a private space in the central business district.
He added that the target group for the project is the new generation and working people who are starting up a family is the Rama II area.
He said: “Rama II continues to grow. According to Thailand’s economic data, land prices in this area have continued to rise compared to previous years. This shows higher potential in this location. In a near future when the ASEAN Economic Community (AEC) opens in December 2015, this area will become crowded as Rama II is a bypass to the western part of Thailand, connected to Myanmar, and to the south connected to Malaysia.
“With this reason, many landlords and developers in this location are seeking land plots to develop new property projects,” added Nat.
Wizdom Anamai NgarmJarearn will comprise 120 units of three-storey commercial building (55 units in phase one and 65 units in phase two) with four meters of width on unit plot, ranging from 23-45 square wah and usable area from 112-136 sqm.
Phase one which started construction in March 2014 will complete by the end of the year and phase two will start construction in August 2014 and is scheduled to complete in mid-2015.
Andrew Batt, International Group Editor of PropertyGuru Group, wrote this story. To contact him about this or other stories email: andrew@propertyguru.com.sg
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If you have a news story or comment for publication about Thailand property or real estate email:andrew@propertyguru.com.sg