Bangkok Apartments
| Asian Property to launch 14 new projects in second half |
|
|
|
|
The Nation July 1, 2008 Major property company Asian Property Development (AP) will launch 14 new high-and low-rise projects worth a combined Bt15 billion in the second half of the year. CEO Anuphong Assavabhokhin yesterday said five of the projects would be condominiums and the rest low-rise projects, including single-detached houses. Among the condominium projects will be the introduction of a new upper-market brand of high-rise residential buildings on Sukhumvit and Sathorn roads. Selling prices will average about Bt140,000 a square metre, or at least Bt5 million a unit. Other condominium projects will be constructed under the company's The Address and Rhythm brands. Rhythm is itself a new brand, having only one existing location on Ratchadaphisek Road, adjacent to the Olympia Thai Tower. A second Rhythm location will be launched in the second half. Rhythm is designed to be a modern, trendy condominium priced at Bt80,000 to Bt120,000 a square metre, Anuphong said. Anuphong said AP received Bt4.5 billion in income from earlier bookings in the first half, of which Bt1 billion came from condominium projects. About Bt3.5 billion came from low-rise projects, up 10-20 per cent year on year. AP launched only two new projects in the first half, out of a full-year target of 16. Of the current economic situation, Anuphong said only big developers and smaller companies with huge budgets could survive. "Large developers with good locations for their projects will have an advantage in the current fierce competition. The keys to success for developers in the second half of the year will be location, property type, price and competition," he said. AP yesterday also announced a collaborative campaign with Siam Commercial Bank: SCB Home Loan Service More. The bank will offer to provide payment services, including home loan and electricity, water supply and other utilities, to both existing and new AP clients. Expenses will be paid by the bank via an automatic system that debits customers' accounts. The campaign runs from today until the rest of the year.             |
| < Prev | Next > |
|---|