New skytrain route attracts developers

A number of new condominium projects have begun construction on Sukhumvit Road between Sois 101 and 103.

About 5,000 new residential units have come up between Sukhumvit 101 and 103.

Leading property companies, such as Property Perfect, Niran Group, Land & Houses and Sansiri, plan to launch residential projects at this location, targeting the middle and high-end markets.

Property Perfect has already introduced a condominium project, Metro Park Sukhumvit, worth Bt4 billion, on Sukhumvit 103.

The project will have 1,250 units at a starting price of Bt3.2 million. It will launch presales in November.

Property Perfect chief operating officer Teerachon Manama-iphibul said the area between Sukhumvit Soi 101 and 103 had gained prominence after the government extended the Skytrain route from Onnuj to Sukhumvit 109.

This has enabled an easy commute from offices in the central business district.

"We know that there is high competition in the area because many developers have introduced projects. However, we expect the demand to rise further," he said.

The company plans to launch Metro Park Sathorn Phase 3, which will have 2,000 units worth Bt4 billion, this month and another city-condominium project with 1,125 units and worth Bt4 billion, on Ratchadaphisek Road.

Pravit Panyasakulwong, managing director of Pirom Land, a subsidiary of the Niran Group, said the company plans to launch a condominium project on 4 rai of land at Sukhumvit 103 for the middle market, in the last quarter of the year.

"Although a number of new residential projects have come up at the location, demand from the middle market continues growing," Pravit said.

S&S Residence, a subsidiary of TCC Capital Land, launched its condominium project, S&S Sukhumvit 101/1, worth Bt2 billion, with 810 units, for the middle market, at a starting price of Bt40,000 a square metre.

Opposite the project is a city-condominium project developed by Siam Home Development. The project is worth Bt2 billion, with 799 units at a starting price of Bt48,000 a square metre.

Ananda Development has introduced the Ideo Mix on Sukhumvit 103 worth Bt2.7 billion with 1,172 units at a starting price of Bt65,000 a square metre.