Major developers are betting on Nonthaburi.

Published: May 25, 2024, at 05:55. Mr. Wongsakorn reports that Property Perfect has developed 530 rai for 13 individual house projects in this region. Eight major developers have already launched or plan to introduce 4,600 residential units on an area of 1,300 rai, which suggests a total estimated sales value of50 billion bahtThis is the first case where they are building next to each other, aiming to avoid direct competition.

The pioneer of this project is Property Perfect Plc, which began acquiring land in the Klong Phra Udom area of Pak Kret district in Nonthaburi over ten years ago, starting with an isolated plot. After acquiring additional plots and selling the first piece of land, measuring 215 rai, to the University of the Thai Chamber of Commerce in 2009, the company built a four-kilometer road to connect its lands. The Hor Karn Kha Thai Road links Chaiyaphruk Road to the south and the Saphan Nongthaburi-Bang Bua Thong Road (Road No.

"The company invested400 million baht“in the construction of roads and other infrastructure,” says Wongsakorn Prasithipat, managing director of Property Perfect. “This has attracted other developers, especially large ones, to joint investments in this area.” Along the road, the total land area is 1,300 rai, with Property Perfect owning the largest portion—600 raysThis land can be used for more than 15 projects with a total sales value of20.5 billion baht.

Property Perfect has already developed 530 plots for 13 individual house projects and has also created a shopping alley. One of the projects is a luxury individual house development that was carried out in partnership with the Hong Kong investment group Hongkong Land. The remaining plots were acquired by other developers listed on the stock exchange, among which SC Asset Corporation, Sansiri, and Pruksa Holding were the first buyers.

While Property Perfect projects in this area mainly include individual homes in the mid to high segment, SC Asset residential complexes are valued from10 to 30 million baht...while Sansiri's apartments were sold at prices starting from...6 to 40 million bahtThe Pruksa product line includes two individual house projects, one of which has prices starting from5 to 8 million bahtand is already sold out, while the other has prices starting from8 to 15 million bahtAccording to the company's data, it is also expected to be sold out in the third quarter of this year.

Other developers in this area include AP Thailand Plc, Central Pattana Plc, and Proud Real Estate Plc. AP plans to launch the construction of duplex homes starting at6 million bahtNext month, after new regulations in Nontaburi allowed for the construction of housing other than individual homes last year, Central Pattana and Proud are developing projects that are meant to stand out among the offerings from other developers. Do you like the content of this article?