Sena Development Plc plans to launch 3 new projects by the end of September in order to increase its sales this year, according to local media reports. The soon to be announced developments are worth THB4.86 billion combined and will be the only new projects launched by the company during the 2nd half. The company has already launched 7 projects in 2017.
The most prominent launch will be that of Sena Eco Town Ramindra-Wongwaen which will contain 20, 5-storey buildings and have 480 condominium units. The development is situated on a 12-rai plot on Ram Intra-Ring Road and will have a Japanese Zen theme. There are also plans to launch a joint venture condo with Japanese property firm Hankyu Realty Co. That development is known as Niche Mono Sukhumvit-Bearing and will have a total of 1,467 units.
The company has to postpone another launch it had scheduled in 2017 to early next year. The Niche Pride Taopoon Interchange is valued at THB3.5 billion and will feature 777 units. The postponement isn’t expected to affect the company’s bottom line this year as it remains on course to hit its financial targets.
“We postponed 1 project launch to early next year because it will be a better time than the final month of the year,” says Sena Development Deputy Chief Executive Kessara Thanyalakpark to The Nation.
The delayed project is situated near the Tao Poon subway station and the recently opened 1.2-kilometre missing link rail service that connects the Purple Line and Blue Line. This should help the area be more attractive to condo buyers who found using the Purple Line to be inconvenient.
“Clear-cut infrastructure will have a strong impact on sales of residential projects in locations it will pass. The missing link is expected to also help absorb the current unit supply along the Purple Line. Concerns about risk factors remain but the overall property market is in an upward trend,” says Kessara.
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