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Phuket House Developer Reaches for the Sky

By on Jul 08, 2016 in Property News, Residential

The Phuket house SET listed developer Charn Issara Development Plc is planning to launch 4 high end housing projects worth in totality 3.73 billion in the second half of 2016.  The house projects are in Phuket, Cha-am and Bangkok. Chief Executive Songkran Issara said unit prices would be between 40 and 350 million Thb. The view is there is strong demand in this segment despite the unfavourable economic sentiment.

“The land and buildings tax will have a minimal impact on demand in the high-end segment but may slow decision-making for a second unit or resort home,” said Songkran Issara.

The Phuket site will be a Sri Panwa House Residence with only one villa priced 350 million baht.

In Phetchaburi’s Cha-am district, Issara United Residence and Villa will have 12 units with an average price of 40 million THB. This project is being developed by Issara United co, which has been formed by Charn Issara, Saha Pattanapibul Plc and ICC International Plc. Issara Residence Rama 9 worth 1.4 billion baht is located on a 10-rai site on Rama IX Road in Bangkok and has 20 houses at 80 million baht each. The other Bangkok house project will be a joint venture with SET-listed contractor Nawarat Patanakarn.  The site is on almost 25 rai on Bang Na-Trat Road and will have 43 houses of between 40 to 50 million THB.

Mr Songkran said Charn Issara was also drafting a master plan for a luxury resort project on a 100-rai beachfront site in Hainan China.

Source: Bangkok Post, 28th June 2016
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