Maybe it is a coincidence. Maybe it was done on purpose. Whatever the reason, Ananda Development has plans to launch 17 new residential projects in 2017. Local media notes that the total value of the projects is THB 36 billion with the developer hoping for 35 per cent growth in presales due to extra demand near Bangkok’s soon to be built mass transit lines.
John Millar, Ananda’s chief strategic development officer, states that many contracts for mass transit lines have already been awarded and construction on certain lines will start next year.
“The expansion of new mass transit lines will help boost housing demand along the routes,” he told the Bangkok Post. “But not every station has potential. Some have an oversupply. Some have no new demand. Some have a bad demographic. We will be selective in choosing locations to develop new sites.”
The company is targeting THB 29-31 billion in presales next year, which would be an increase of 35 per cent from THB 22 billion it is hoping to bring in this year. Ananda increased its predicted presales total by 5 per cent from an earlier target. The developer expects to transfer THB 24-26 billion in 2017, which is an increase from the THB 15-16 billion it targeted in 2016.
Ten of the 17 new developments will be condos while the rest are going to be single houses and townhouses. Ananda also plans to spend THB 10-12 billion to buy new land for future development in 2017. According to Millar, the company also has plans to build a mixed-use development next year on Ratchadaphisek Road.
The project requires an investment of THB 2.6 billion and will have a total gross floor area of 50,000 square metres. The mixed-use space will contain retail stores plus residential units or hotel rooms and should be open by 2020.
