Wealth Developer announced that it is launching a special phase for its The Zea project, a 39-story condominium in Sriracha. The group is focusing on the condo’s Japanese style which will come in handy as the project is situated in a region that is home to a large number of Japanese expats.
It is this highlight that makes the project worth investing, according to Wanpen Thanathamsiri, managing director of Wealth Developer. She added that The Zea is a good investment for residing or renting and added the company is guaranteeing a 21 percent return in three years.
Units at The Zea come fully furnished and ready to move in. The project was originally launched in 2014 and it has since generated THB1.8 billion in income. Construction on the project is currently ongoing with it being 80 percent completed. It is expected to be finished sometime in 2017.
Accommodations in Sriracha continue to be in high demand from Japanese expats working in some of the region’s nearby factories. JLL forecasts that the number of Japanese residents in Sriracha will grow by 20 percent each year and there are more than 10,000 Japanese expats currently employed in the region.
The developer noted that Japanese expats look for facilities and easy transportation when choosing a place to stay and prefer to rent rather than buy since they are normally on a contract and will eventually return home. Despite the large Japanese community, there is still an oversupply of units along Thailand’s Eastern Seaboard at the moment.
“From these factors, we foresee that in the Eastern region, the Japanese community will expand their investment, and the real estate sector will also expand,” Wanpen pointed out in a press release. “Today, there is an oversupply, but looking at the increasing demand, I think the real estate sector in Chonburi, especially in Sriracha, is on the rise, and many operators have plans to move forward.”
