Sena Development and Hankyu Realty Co, a Japanese property developer, have singed plans to launch a pair of joint venture condo projects valued at THB 7 billion, reports local media. The new projects are expected to be launched later this year.
The 1st project is Niche Mono Sukhumvit 70, a large condo with 1,467 units near the Bearing BTS station. Sena will use a number of technologies developed by Hankyu Realty at the project to make it more appealing to buyers. Several features, such as a care unit with a heart pump for those suffering from a heart attack, are designed with elderly residents in mind.
“Niche Mono will boast a new concept with the help of the Japanese partner, including unit designs to facilitate elderly living, like having electricity sockets installed higher from the floor,” says Kessara Thanyalakpark, Sena’s Deputy Chief Executive, to the Bangkok Post.
Sena also signed an agreement with Hankyu Realty for Niche Pride Taopoon Interchange, a condo with 777 units valued at THB 3.5 billion. This was formalised last week after the partners reach a tentative deal late last year. The 2nd condo will be launched at the end of 2017 or in early 2018.
At the moment, Sena has a sales backlog of THB 3 billion with most of that set to be realised in the 3rd quarter when sales conclude at several large developments. The Niche Pride Thonglor-Phetchaburi is one of these projects still on the market. The 475-unit condo has seen THB 1.65 billion of its THB 2.4 billion of supply sold. The remaining units should be purchased this year.
Other projects with units for sale include The Kith Plus Sukhumvit 113 Phase 1 and Niche ID Rama 2. There is more than a combined total of THB 500 million of unsold units at the two projects.
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