Prime Road Group, a renewable energy company based in Thailand, announced it is building a commercial project worth THB1.2 billion in Udon Thani. The company is targeting Udon Thani first but also revealed plans for developments in Bangkok, Chon Buri and Phuket that should become clearer in 2016.
Udon Thani has a high potential for commercial property development as the province’s economic expansion during the past three to five years should continue on due to a number of factors, Prime Road Group chairman Somprasong Panjalak explained. “The nation’s overall economic outlook is not so good, but political stability, ASEAN integration and Thai-Lao border trade will help boost Udon Thani’s economy,” he said.
The first phase of Prime Square Udon Thani was launched by the company last week. The project is made up of 230 commercial units with prices starting from THB4.5 million.
A total of 60 units have already been reserved with local and non-local buyers showing interested in the project. A wide range of companies including medical businesses, beauty services and fashion retailers will move in once the development is completed.
The development is being constructed on a 21-rai site on Nittayo Road. The first phase will consist of 16 rai of the commercial facilities while a hotel and office space will be built on the remaining land during the second phase of construction. Prime Road Group would like to close sales for the first phase by next April with construction of the project wrapping up in the third quarter of 2016.
The company also has plans for residential projects in Bangkok, Chon Buri and Phuket that they hope to launch in the next 12 months. Prime Road Group will build a mid-price condo and villa project at Kamala Beach in Phuket while the Bangkok project will be situated on upper Sukhumvit Road. However, the company has not decided what type of residential development it will build on this site yet.
Image: Prime Square Udon Thani via facebook.com/PrimeSquareUdonthani
