Dr Boonchai Issarapisit has combined a medical career and his interest in real estate to create Bangsai Hospihouse, which provides retired persons a detached house in a project with medical per-sonnel always on hand.

Bangsai Hospihouse in Bangsai, Ayutthaya province, began inviting buyers in January 2004. As of today, the property has sold 150 from a total of 1,000 units.

The estimated total mar-

ket value of the property is Bt2

billion, with the homes selling

for an average of Bt2 million

each.

Boonchai is president of Wellness Home Co, which operates Bangsai Hospihouse. The project has 10 phases on 1,000 rai.

In 2004, the company succeeded in selling 100 units out of 114 in its first phase. Fifty units out of 144 from its second phase were sold out last year. Now they plan to open the third phase to buyers and expect to sell at least 100 units worth Bt200 million there.

Bangsai Hospihouse project has both emergency and rehabilitation clinics.

It also has a 24-hour standby nurse qualified to provide

emergency services. If

the resident needs to be hospitalised, an ambulance is also always available.

Boonchai is also a major shareholder in Ratchathani Hospital in Ayutthaya.

He helped develop three property projects

in Bangkok and Auytthaya more than ten years back.

He said that Wellness Home and Hospihouse were born when he and his partners "saw a business opportunity and market demand, especially among retired persons who need a special environment and good medical attention".

Wellness Home has not had

to advertise to promote the project. All the units in Hospihouse have been sold through word of mouth.

Boonchai says the company also helps retired foreigners rent houses in the project. This is done under joint ventures with agents in Japan and Europe.

The first overseas customers are to begin renting homes in May. Japanese are renting 10 houses and Germans another 10.

Boonchai expects sales and profit at Bangsai Hospihouse this year to show significant gains from last years' Bt150 million in sales and Bt30 million profit.

Somluck Srimalee

The Nation