The partnership between BTS Group Holdings, operator of the Bangkok Skytrain and Sansiri (Thailand) Plc looks set to continue with the launch of The Line Sukhumvit 71. Presale roadshows took place in Hong Kong and Singapore over the weekend and will be held in Bangkok on 8th-9th August. The shows offered potential buyers full furnished, ready-to-move-in packages.
DB Studio, DIU and Urbanique designed the 28-storey condominium that is made up of 291 one- and two-bedrooms residential units. The project will be completed by November 2016. Facilities at The Line Sukhumvit 71 will include a lobby lounge, library, swimming Pool with Jacuzzi, fitness room with equipment, laundry room, garden with recreation area, car park and a concierge.
Apichart Chutrakul, chief executive officer and co-founder, Sansiri said in a press release, “The Line Sukhumvit 71 is a stylish contemporary residential property with transportation accessibility, located in the up and coming business and buzzing new arts district of Sukhumvit 71, which is long established as an entertainment, high-end dining, and nightlife district situated close to the BTS Phra Khanong station. This famous neighborhood offers convenience and excitement and is situated in lifestyle areas such as Ekamai, Thong Lo and Phra Khanong.”
The announcement comes hot off the heels of BTS and Sansiri’s first project, the THB6 billion Line Chatuchak-Mochit condominium. That development was an overwhelming success according to Keeree Kanjanapas, chairman of BTS Group Holdings, who noted that project sold out in the second quarter after similar roadshows in nearby countries.
“We are strongly confident that the high demand of the high-rise properties for investment in the centre of Bangkok are rapidly growing because prices here in Thailand are much lower than Hong Kong by three times; meanwhile, the rental yield is comparatively high at six to ten percent, Keeree noted. “Additionally, Bangkok properties see great capital appreciation every year; therefore, we have no doubt that this would be another great opportunity for investment.”
Apart from the Sukhumvit Soi 71 property, The Line brand will continue with four additional developments including sites in Wong Sawang, Central Lat Phrao and Phetchaburi Soi 18. The other location is yet to be determined.
