Siam Sindhorn, a subsidiary Crown Property Bureau, revealed that it will launch three new residential phases of its Langsuan Village project in Bangkok next year, The Bangkok Post reported. The three new phases will be in the mid-to high-end segment of the property market and are estimated to be worth THB7 billion, according to the developer’s chief executive Chalaluck Bunnag.
The first phase of the project is going to be launched early in 2016 and will be located on Lang Suan Road next to Mater Dei School, the newspaper added. Sindhorn Midtown will be made up of a pair of 29-story buildings and will feature a total of 475 fully furnished units when completed. The target for the project is a younger demographic of people most likely starting or in the early stages of their career.
The other two phases are Tonson Park View Residence and Langsuan Park View Residence. These two projects will be targeting buyers from the high-end of the market and The Bangkok Post said the prices for both towers would not be announced until their launch sometime in the fourth quarter of 2016.
“The weak economy has a minimal effect on the high-end market,” Chalaluck noted. “Land prices have risen, and condo prices follow them, particularly in prime locations, while high-end demand remains strong.”
Sindhorn Residence, a project launched at Langsuan Village at the end of 2014, still has units for sale. The development is situated on a 56-rai plot of land and will boast 1,000 apartments and serviced apartments when completed. It is made up of three towers including one dedicated to senior living. Siam Sindhorn also announced that they had signed a contract with German brands Siemens, Poggenpohl and Hansgrohe and Italian brand Poliform to provide products at the Sindhorn Residence.
By the time the entire Langsuan Village project is completed it will be a mixed-use development with a medical and health center managed by Bangkok Hospital, a hotel operated by Siam Kempinski, a massive shopping center and a museum in addition to the residential projects.