Kaset-nawamin road set to be next home hub

With 100 projects, comprising 10,000 units, expected to come up on Kaset-Nawamin Road, it seems set to be destination next as far as luxury developments go.

Developers eyeing projects in the area include TCC Capital Land, Asian Property Development, Property Perfect, Quality Houses and KE Land. TCC Capital Land is a joint venture between liquor baron Charoen Sirivadhanabhakdi and Singapore-based property developer CapitaLand.

Most of the projects being launched on Kaset-Nawamin Road are townhouses, double houses and detached houses. Prices start at Bt3 million and can go up to Bt50 million per unit.

With developers increasing investment on Kaset-Nawamin Road, prices have been climbing at a fast pace in the area in the past two years, KE Land managing director Kaveepan Eiamsakulrat said. He owns about 200 rai of land on the road.

Land prices in the area ranged from Bt80,000 per square wah to Bt100,000 per square wah in 2006. The launch of projects has pushed up prices to between Bt150,000 per square wah and Bt200,000 per square wah, up 90 per cent to 100 per cent in the past two years, a survey conducted by The Nation last week showed.

A number of developers are focusing on luxury projects in the area as it has a lot of green space and is also close to the mass-transit system, two things that would appeal to middle- and upper-market home-buyers, Kaveepan said.

Asian Property Development senior executive vice president Visanu Suchatlumpong said the demand for residential properties on Kaset-Nawamin Road has registered strong growth due to its proximity to the main road and the expressway.

There is a demand for townhouses and detached houses coming up in the area. These are priced between Bt3 million and Bt10 million.

"The location will appeal to middle- and upper-market buyers because it is green," Visanu said.

TCC Capital Land, which owns about 1,000 rai of land on Kaset-Nawamin Road, began developing the land last year.

It has set aside Bt10 billion for the purpose. The developer plans to offer integrated retail, commercial and residential spaces in the area, or a "city in itself".

The company is already developing its first project on Kaset-Nawamin Road, The Royal Residence.

The project offers detached houses at a starting price of Bt10 million.

The "city" project will be the company's largest and will take at least  five to 10 years to complete, TCC Land chief executive Wallapa Traisorat said.

TCC Land's master plan is part of a drive to make the location the new destination for middle- and upper-market buyers.