Infrastructure hikes land prices

Corporate August 27, 2018 01:00

By SOMLUCK SRIMALEE
THE NATION

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PROPERTY DEVELOPERS are looking for land in four locations next to the planned Bt500-bn infrastructure network of the Eastern Economic Corridor(EEC), say market experts.



Asides from the close proximity, these areas come with the convenience of modern living including shopping areas, efficient transportation, hospitality venues, and lifestyle zones. 

“In the vincinty of digital park, Sriracha district in Chon Buri is the best location to develop residential and commercial properties, particularly in areas near Sriracha Tiger Zoo, Assumption Sriracha, Lam Cha Bang Port, and the Saha Industrial Estate,” said Ratchaphum Jongpakdee, general manager of Colliers International Thailand Co Ltd. 

Hong Kong-based property firm King Wai Group has set an investment budget of Bt3 billion to develop a mixed-use project on a 300 rai plot in Klong Luang Peng, Muang District, Chachoengsao.The area has a total of 1,997 rais. 

The integrated development will comprise residential units, medical facilities, a healthcare centre for the elderly, among others. 

Pattaya, Jomtien, and Wong Amat districts are the top destinations for condominium projects, said Phattarachai Taweewong, Collier International Thailand Co Ltd’s senior manager/research .

Currently, 2,362 condominium units are available in Pattya, 4,500 in Jomtien and 980 units in Wong Amat with an average market absorption rate of 80 per cent, he said. 

A survey by Real Estate Information Center of Government Housing Bank found high demand for residential units priced lower than Bt2 million at Muang-Bang Lamung district, Chon Buri. 

Other top locations for homebuyers are the Muang district in Chachoengsao and Rayong's Muang and Plow Daeng districts.

Original version

Somluck Srimalee

The Nation

 

With the investment for infrastructure projects worth over than Bt500 billion at Eastern Economic Corridor or EEC is boost demand of land for develop residential and commercial building in four locations that locate to close with new infrastructure, property experts said.

 “Sixty kilometers around digital park Sriracha district, Chonburi is the best location for develop the both residential and commercial building. They are including the location around Sriracha Tiger Zoo, Assumption Sriracha, Lam Cha Bang Port, and Saha Industrial Estate,” Colliers International Thailand Co Ltd’s general manager Ratchaphum Jongpakdee said recently.

He added that four locations that locates to close with more facility including shopping area, logistic, hospitality, and lifestyle zone.

Meanwhile, Hong Kong based property firm King Wai Group set aside the investment budget Bt3 billion to develop mixed-use project on the land 300 rais, which is apart of total land 1,997 rais, at Klong Luang Peng, Muang District, Chachoengsao province. The project combines residential, healthcare centre, aging healthcare centre, and distribution centre.

Pattaya, Jomtien, and Wong Amat districts have continued to be landmark for condominium projects, Collier International Thailand Co Ltd’s senior manager of research department Phattarachai Taweewong said recently.

Currently, number of condominium for sale at Pattaya recorded 2,362 units, while, at Jomtien 4,500 units, and Wong Amat 980 units. The absorption rate of the market average 80 per cent, he said.

 According to survey by Real Estate Information Center of Government Housing Bank shows the demand for residential at price lower than Bt2 million at Muang-Bang Lamung district, Chonburi shows strong demand following by Muang District, Chachoensao province.

 The survey also shows the demand for residential at Rayong province that focus on two locations including Muang district, and Plow Daeng district.