The Life is the brand name for a new group of three city condominium projects being built by Asian Property Development that will offer units priced from Bt1.9 million to Bt6 million, depending on location.

CEO Anuphong Assavabhokhin says The Life projects are focused on middle-income earners who have the purchasing power to buy immediately.

"Our research sought out which kinds of products were needed to match customer demand after the cost of living increased following the oil-price rise. The answer was city condominiums located close to mass transit, especially the Skytrain and the subway, because customers were demanding cost-of-living savings and added convenience to their lives," he says.

Asian Property Development decided to launch three city condominium projects with a combined value of Bt3 billion, called The Life project. They are located in the Ratchadaphisek-Suthisarn area close to a subway station, on Phaholyothin Road close to a Skytrain station and in Sathorn Soi 10 close to both the Skytrain and the subway.

But proximity to mass transit is not their sole feature. They are also fully finished for buyers, and the design focuses on a city lifestyle while providing generous nature zones and public areas. The goal is to suit the new lifestyle of the young generation aged 25-30.

The Life condominiums will have three types of units, including a one bedroom of 30.5-41 square metres costing between Bt1.9 million and Bt2.5 million, depending on room size and storey.

The two-bedroom units in both the Phaholyothin and Ratchadaphisek-Suthisarn locations will cover 55 square metres and cost Bt2.5 million to Bt4 million. At The Life in Sathorn Soi 10, the two-bedroom units will cover 62.5-64.5 square metres and cost between Bt3 million and Bt6 million.

All of the units in all three condominiums have already been booked. Construction is expected to begin next month, for completion in the first quarter of 2009.

"We're launching more of the same product in the second half of this year after such positive feedback from our customers," says Anuphong, adding that The Life projects carry the company's second brand, following The Address, which focuses on the middle- to upper-income market.

The three new condominiums together with other projects still to be launched are expected to boost Asia Property Development's sales to this year's target of Bt8 billion. The company has increased its marketing budget from Bt600 million to Bt700 million, to be spent on television and print advertising, event marketing, lucky draws for customers and sales promotions.

Anuphong says the company plans to launch The Life condominiums in other locations in the second half of the year. All will be close to both the Skytrain and the subway.

"We'll not construct condominium projects at other locations that are waiting for new mass-transit routes to be built in the future, because customers who are buying condominium units now want to see the mass-transit systems now and know that they will be living close to a mass-transit system that is working," he said.

Property Reporter

The Nation