Sansiri targets luxury market with Narasiri

Amid high competition in the mid-tier market, Sansiri plans to launch luxury detached housing under the new Narasiri brand with prices above Bt20 million per unit to boost overall revenue to Bt36 billion this year.

The luxury brand will make up some of the 21 low-rise projects worth Bt25.22 billion in total that will be launched over the course of the year. Including high-rise projects, Sansiri will launch 45 new residential projects worth Bt61 billion this year.

Thirteen of the low-rise projects will be for detached housing, worth about Bt22 billion, and the rest will be townhouse developments.

The leading upscale real-estate developer will launch high-end detached-housing projects under the Narasiri brand, with an Bt8-billion investment.

Metha Angwatanapanic, executive vice president for business development, yesterday said that these projects would be located in four prime areas: Bang Na, Rama II and Srinakarin in Bangkok, and Buddhamondhol Soi 1 in Nakhon Pathom.

With its residential design inspired by renowned American architect Frank Lloyd Wright's work, the Narasiri Buddhamondhol Soi 1 project will comprise 58-60 units, each priced between Bt20 million and Bt40 million.

The Rama II projects being constructed also contain 58-60 units and are designed in Thai-European contemporary style, while the concept of the 100 units in Bang Na is inspired by American luxury-estate style. Prices will be in the range of Bt30 million to Bt100 million.

Meanwhile, the project in Sri Nakarindra is under development.

Metha added that other new low-rise projects would help the company branch out into all market segments from the high end to the middle tier.

For example, Sansiri plans to launch projects under the Sretthasiri brand in Chaeng Wattana-Prachachuen, priced from Bt6 million to Bt20 million per unit.

New Burasiri projects will be priced between Bt5 million and Bt10 million, while detached houses under the Saransiri brand will cost from Bt4 million to Bt8 million. Projects under the Habitia brand will be priced from Bt3.5 million to Bt8 million.

Additionally, Sansiri has earmarked more than Bt35.2 billion for new 24 condominiums both in Bangkok and the provinces, accounting for 57 per cent of its Bt61 billion worth of investment this year. The company targets 15-per-cent presales growth to Bt48 billion this year, and a 20-per-cent rise to Bt36 billion in sales revenue from last year. Of the total sales target, Bt18 billion is expected to come from low-rise projects and the rest from condominiums.