Sansiri To Launch Luxury Project At Record-High THB500,000 Per SQM
Thai property developer Sansiri PLC will launch a new project condominium on Wireless Road with starting prices reaching as much as THB500,000 per SQM.
“We will offer a starting price of THB500,000 per SQM, or perhaps more, when launching the project to the market in the middle of 2016,” said Srettha Thavisin, Chairman of Sansiri.
Worth an astonishing THB6 billion, the residential property will feature a unique design and furniture package from a New York fashion designer for all units and facilities. Although the construction started back in 2013, the property will not be open for sale until it is fully completed in mid-2016.
Srettha added: “This will be our masterpiece project, and one that also changes the face of the city condominium into a fashion design, being the first fashion-designer condominium in Thailand. However, the luxury project will not be given a name until it is complete and opens for sale.”
Lands availability is continuously decreasing in Bangkok CBD and lands prices, especially in Wireless Road, keep on rising. This is why property developers have no choice but developing high-end to luxury properties in order to cover the cost of lands that low to mid-market condominiums would not do.
In 2010, Sansiri bought the 2-Rai plot for its super luxury project for THB1.5 million per Sq.Wah – meaning a total of THB1.2 billion.