The property development subsidiary of contractor Nawarat Patanakarn, Mana Patanakarn, tells local media that it will launch 2 new residential projects this year. The developments will be worth THB 1.6 billion combined. The developer is also looking to develop an office tower as well as a community mall in the next couple of year.
Pasan Swasdiburi, president of Mana Patanakarn, explains that the company sees a business opportunity in recurring income properties and will use a 20-rai land bank on Bang Na-Trat KM 4 Road to build these. There is hope that this area will become an attractive location some time in the near future.
“The Bang Na area has potential as it leads to Suvarnabhumi airport and is close to a skytrain station,” tells Pasan to the Bangkok Post. “We will develop an office tower with 11 storeys for both our own use and rental.”
Mana Patanakarn could also open a community mall business in the next few years. The company is planning to start with a small-scale site near its residential projects as a way to support its housing customers before expanding the division.
The developer plans to launch Baranee Residence, a single-house project worth THB 850 million, this year. The development will be located on a 34.5-rai plot in Rangsit-Khlong 3 and features a total of 140 units.
The second residential project from Mana Patanakarn is Aspen Condo phase B that is situated on a 3.5-rai site on Lasalle Road. The project will be launched in early February and comprises a couple of 8-storey buildings with a total of 398 units.
“The property market this year will recover from a sluggish 2016 with many developers planning to launch new projects,” says Pasan. “The country’s overall situation is in good shape as internal factors are improving to become more stable.”
There are also plans for the developer to spend THB 500-600 million this year to buy land plots for residential development. The company is looking to launch at least 2 new projects per year moving forward.
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