Noble Development has revealed details of its latest prime central Bangkok development, the first of three it plans to launch before the end of this year.
The latest in its Noble Recole brand will be in Sukhumvit 19 (pictured) and be located 10 minutes’ walk from Terminal 21 shopping mall, as well as MRT Sukhumvit and the BTS Asoke stations.
Justifying the decision to launch in a central Bangkok location, Theeraphon Voranithiphong, Vice President of Noble Development, told reporters that condominiums within the inner city locations, such as those along the BTS Sukhumvit line, continue to attract Thai and foreign buyers, either for investment or living purposes.
Average condo rental rates in the Sukhumvit area are between THB30,000-50,000 per month, with average return on investments of between 5 percent and 7 percent, he said.
“We have launched Noble Recole to serve the demand of city people who seek to live by the pulse of the city’s central business distruct, and near MRT and BTS stations”
The project will be 28-floors high in a single structure, and will contain 288 units with a total investment of THB2.3 billion. One-bedroom units will be approx. 34-45 sqm in size and two-bedroom units will be between 62 sqm and 69 sqm. Prices will start from THB5.1 million, equivalent to THB150,000 per sqm.
Registration for presales will start from September 12 and the project will open for presales on September 28 at The Okura Prestige Bangkok Hotel, next to Ploenchit BTS station.
The developer hopes to close about 80 percent of its sales on the first day of presales, it said. The project is in the process of submitting for EIA approval and construction is expected to be completed by 2018.
Image: The current site in Sukhumvit 19, Bangkok, of what will become Noble Recole in 2018.
Andrew Batt, International Group Editor of PropertyGuru Group wrote this story. To contact him about this or other stories email andrew@propertyguru.com.sg
