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Bangkok Condominiums : Siamese has four projects in sight

By on Sep 20, 2014 in Property News, Residential

Mid-sized property developer Siamese Asset Co plans to launch four new Bangkok condominium projects worth a combined 13.7 billion baht in the next six months.  Investment for the projects will partly come from revenue of 2.1 billion baht from three launched residential projects to be realised between now and December, said managing director Kajonsit Singsansern.  During the first eight months, the company posted 700 million baht in revenue against 600 million baht last year.

Two of the new projects will be near Asoke area including a site on Soi Sukhumvit 31 which it recently bought from SET-listed developer Major Development Plc. Siamese plans an October launch date for the condo project on this plot, a 23-storey building with 200 units. It will cost 2 billion baht with unit prices starting at 125,000 baht per square metre.

Next quarter, Siamese plans to launch Blossom Condo in Ram Intra area. A 20-storey building with 300 units worth a combined 700 million baht, unit size will start at 35 sq m at 50,000 baht per sq m.  Next year, it will launch a low-rise condo project worth 9 billion baht on a seven-rai site in Charoen Rat area with seven eight-storey buildings and a total of 2,000 units priced 70,000 baht per sq m.

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