"Noble Solo is the seventh condominium project in our portfolio and the last project launched in 2006. We will record the sales revenue in our first-quarter results next year", said Thongchai.

Construction of the Bt1.77-billion condominium project will start at the end of this year and is due to be completed in early 2009.

Based on the concept of "Your Life Your Space", the project will offer one-bedroom and studio units for singles and office workers who want to stay close to their offices. These units account for almost 80 per cent of the total.

Prices start at Bt2.2 million for a 34-square-metre pad.

Vice president Arat Sawatatat said Noble Solo had been conceived to suit people aged 30-35 who want to live close to their places of work.

"It's popular for young people nowadays to live in a modern condominiums. That's why Noble has developed apartments for people who live alone," said Arat.

He said he expected the remaining units at Noble Solo to be reserved within two months.

Noble is increasing its presence in the condominium market, which now accounts for half of its developments. The rest are houses.

Arat said the company had budgeted Bt1 billion for expansion of its land bank for further developments next year. He said Sukhumvit continues to have strong prospects for condominium projects.

In the first half of the year, Noble Development generated revenue of Bt1.08 billion, up 17.7 per cent from the same period last year, and a net profit of Bt166.3 million. The company expects its pre-sales to hit Bt4 billion this year, almost double its earlier projections.

Patcharee Lueng-uthai, The Nation