The Amarin Group Introduces "Aroon Siriraj Triple Station" Condominium

The Amarin Group Introduces the Premium "Aroon Siriraj Triple Station" Condominium
An Unparalleled Fusion of Connectivity and Elegance in the Heart of Siriraj

The Amarin Group proudly unveils its latest masterpiece Aroon Siriraj Triple Station, a premium condominium for sale nestled in the prestigious Siriraj district. This exceptional development is defined by its strategic location, seamlessly connected to three major electric train lines, offering residents unmatched convenience. With a vision rooted in luxury, privacy and greenery, the condominium offers an elevated living experience. Its timeless design harmonizes personal privacy with safety, all enveloped in a serene, natural setting. The project is set to capture keen interest, driven by the immense potential of the Siriraj area—a district poised to become a pivotal national medical hub. Recognized as a prime investment opportunity, CBRE Thailand forecasts a robust rental yield of 5%-6% annually, further solidifying Siriraj’s standing as a valuable real estate destination both for now and in the future.

Mr. Athavut Dhamcharoen, Managing Director of The Amarin Co., Ltd., a real estate developer under the Aroon brand, provided insights regarding the newly launched "Aroon Siriraj Triple Station." This low-rise condominium features eight stories and 170 units, with a total investment of THB 800 million, situated on a site spanning over one rai along Charansanitwong Road 32. The project is just 120 meters from the MRT Blue Line station at Bang Khun Non and is conveniently located near Siriraj Hospital, as well as various amenities such as shopping malls and universities.

Exceptional Connectivity with Three Electric Train Stations

Following the success of its previous projects, "Aroon Siriraj Triple Station" marks the company’s third development in the vicinity of Siriraj Hospital. "This project not only enjoys proximity to Siriraj Hospital but is also surrounded by three electric train stations. The MRT Blue Line station at Bang Khun Non is just 120 meters away, complemented by two future stations—MRT Orange Line and SRT Light Red Line—that will provide direct access to Siriraj Hospital and Siriraj Piyamaharajkarun Hospital with only one stop in between," Mr. Athavut emphasized, highlighting the strategic location of the project.

Enhanced Living Experience

Mr. Athavut further elaborated that "Aroon Siriraj Triple Station" has been meticulously designed with careful attention to detail, offering a unique and fulfilling living experience. "In addition to the advantageous location that facilitates ease of transportation, we significantly prioritize residential comfort. We draw inspiration from the principles of harmony with nature, focusing on tranquility, privacy and sustainability, which culminates in three superior living experiences:

1.  Luxury: Timeless architectural design paired with high-quality materials, emphasizing both aesthetics and durability.
2.  Privacy: A limited offering of only 170 units to minimize congestion, catering to residents seeking a high level of personal privacy.
3.  Greenery: Thoughtfully designed green spaces that enhance residents' connection with nature, featuring ground-level units that provide seamless access to gardens and amenities tailored to residents' lifestyles."

The project offers three distinct unit types to meet diverse living needs: one-bedroom units (28-43.2 square meters) starting at THB 4.5 million; two-bedroom units (48.1-66.6 square meters) starting at THB 6.9 million; and three-bedroom units (101.7-103.8 square meters) starting at THB 15.1 million. The development allocates 47% of the area for parking and provides 24-hour security, along with a Benz Vito shuttle service connecting the project with Siriraj Hospital and a premium superstore. Additional amenities include a spacious six-meter-high lobby, a fully equipped gym with external views, a co-kitchen area for dining and entertainment, co-working spaces, distinct private and public meeting rooms and a rooftop swimming pool featuring lockers and panoramic views.

Siriraj: A Future-Proof Location

Mr. Athavut noted that, as a local resident, he has observed the continuous growth potential of the Siriraj area. He believes this area will evolve into a prominent medical district, with Siriraj Hospital planning to develop a 15-story medical facility connected to Siriraj station, which will serve as a transport hub for healthcare and public health in Thailand. This initiative is a collaboration among Siriraj Hospital, the State Railway of Thailand (SRT) and the Mass Rapid Transit Authority of Thailand (MRTA) to develop the project collectively. Furthermore, improvements are planned for SRT land adjacent to the hospital, including upgrades to staff accommodations and the transformation of transit areas into commercial spaces, such as pedestrian walkways, thereby enhancing the area’s standards and attracting more residents and visitors.

Mr. Athavut added that land around Siriraj Hospital is currently challenging to develop due to landowners' reluctance to sell, as many have resided in the area for more than 30 to 60 years. Additionally, much of the land consists of small plots, necessitating the acquisition of multiple parcels for development. The surrounding area, part of Rattanakosin Island, is subject to conservation regulations that limit building heights to five stories, thus requiring the expansion of development areas. The Aroon Siriraj Triple Station project, covering over one rai, represents a rare opportunity, making it an exclusive location.

The Aroon Siriraj Triple Station project primarily targets genuine residents, particularly medical professionals, hospital staff, and parents of students at the Faculty of Medicine Siriraj Hospital at Mahidol University, as well as investors seeking speculative and rental opportunities. Mr. Athavut is confident that this project will replicate the success of previous developments, which sold 80% of units within three months, driven by the company’s commitment to quality, value and long-term asset potential.

Ms. Artitaya Kasemlawan, Head of Residential Sales - Project at CBRE Thailand, provided insights into the overall condominium market in midtown and suburban areas. As of the first half of 2024, there were more than 751,987 completed units and an additional 100,163 units under construction, with an average sales rate of 63.1%. In the Siriraj area, classified as a prime location, only 4,197 units are available, with a high sales rate of 81% for projects near electric train stations within one kilometer, compared to only 64% for those farther away. The presence of electric train connectivity is a crucial factor in residential choices, complemented by significant elements such as a large medical workforce and esteemed educational institutions in the area.

Looking ahead, the Siriraj area is poised for significant development through major mega-projects. This includes enhanced transportation networks that will integrate future extensions of the Light Red Line and Orange Line stations, expected to be operational in 2028 and 2029, respectively. These initiatives will create seamless connectivity with the existing MRT Blue Line at Bang Khun Non and establish a transit hub linking three electric train lines, significantly improving access between Siriraj and other parts of Bangkok.

"Given the positive growth factors in the area, including developments in the medical district and improvements to transportation systems, Siriraj is currently a prime investment location and will continue to attract significant interest from developers and investors. However, challenges such as land scarcity, high prices, and regulatory constraints mean that new residential projects often receive strong demand from both genuine residents and investors seeking rental opportunities, yielding an average return of 5%-6% annually. A pre-sales event will be held at the sales office located on Sutthawas Road on November 2-3, 2024, offering early bird prices with one-bedroom units starting at just THB 4.5 million, fully furnished," Ms. Artitaya concluded.