AP opens Soul projects in Lat Phrao area

Real Estate February 21, 2014 00:00

By The Nation

With demand strong for low-rise residences located close to central business districts, AP (Thailand) Plc has succeeded in selling the new segment of single family homes called Soul, worth a total of Bt915 million in three locations in projects valued at

They are Soul Ekamai-Lat Phrao, Soul Lat Phrao-Sena and the latest project Soul Ratchadaphisek 68.
Soul Ratchadaphisek 68 is one of 19 residential projects worth Bt23.72 billion that it plans to launch this year, of which six are condominiums, five are single family homes and eight are townhouses.
The company saw demand for single family homes located close to CBDs, but with land limited and construction costs rising, most developers decided to design their new projects in CBDs as condominiums rather than low rises. 
That persuaded the company to roll out three-storey single family home projects at the three locations worth Bt3.02 billion, Vittakarn Chandavimol, chief marketing officer, said yesterday.
After introducing the new design of single family homes under the Soul brand last year, both Soul Ekamai-Lat Phrao worth Bt1.55 billion and Soul Lat Phrao-Sena worth Bt550 million succeeded in selling homes worth Bt780 million. That encouraged the company to add Soul Ratchadaphisek 68 this quarter, despite the country’s political turmoil. 
It has only 30 units at a starting price of Bt25.5 million per unit. 
The project worth Bt920 million has succeeded in selling homes worth Bt135 million after its debut last month.
“We believe that the market still has demand, if we launch products to match customers’ requirements,” he said.
The theme of Soul is modern luxury.
The architect team was concerned about functionality and space to appeal to big families. Members of the family can design their space to match their lifestyle.
“We believe that now the property market faces high competition so more designs are needed to suit customer preferences under the concept of ‘mass but customise’. 
“This will support our growth in the long term although we face an unpredictable situation,” he said.