• 
• 

Published on March 18, 2008

The project is worth Bt1.6 billion and is already sold out.

However, the company plans to launch projects based on the same concept at other locations, company president Srettha Thavisin said.

The project, with 31 storeys, has 363 units of three types. These include a one-bedroom apartment which covers between 40 square metres and 49 sqm, a two-bedroom apartment covering between 67.5 sqm and 69 sqm, and a three-bedroom apartment which covers 99.5 sqm.

Prices start at Bt80,000 per sqm and go up to Bt100,000 per sqm.

This is the first condominium project by Sansiri which offers prices lower than Bt110,000 per sqm, Srettha said.

The company is now filing for the project's Environmental Impact Assessment (EIA) with the Office of Natural Resource and Environmental Policy and Planning.

Construction will start by August and is estimated to be completed by July 2010.

Srettha said Hive will be Sansiri's new brand which will cater to the middle-market segment under the theme "Simply Sansiri".

Sansiri has so far developed residential projects focusing on the middle- to upper-income market with residential projects priced between Bt5 million and Bt10 million per unit.

Its subsidiary, Plus Property will develop residential projects for the middle-income market with prices ranging between Bt1.9 million and Bt3 million per unit. Another subsidiary, Prom Pattana has developed detached houses for the middle market. They are priced between Bt1.9 million and Bt3 million per unit.

Srettha said the company saw a business opportunity in developing city condominiums priced between Bt3 million to Bt5 million. This view resulted in the concept called "Hive".

The project includes after-sales service through Plus concierge which caters to demand that falls in line with an urban lifestyle. 

The services include laundry, drinking water-delivery and car washing among others.

After "Hive at Sathorn-Taksin Road", the company plans to launch projects based on the same concept on locations near the mass-transit system, Srettha said.

Somluck Srimalee

The Nation