From The Nation today.
The architect-turned property developer Supharant Development Co Ltd plans to develop a budget condominium in Bangkok and a resort in Pran Buri worth a combined 600 million baht. Managing director Sumeth Sukapanpotharam said margins from architectural work were not as good as from property development so the company wanted to make a strategic switch.
Early this month it launched the Sense Sukhumvit condominium worth 300 million baht, on a plot of almost two rai on Soi Sukhumvit 68 near the future Udomsuk BTS station.
The project will have 158 units: 85 studios from 31 to 34 square metres, 61 one-bedroom units at 41-48 sq m and 12 two-bedroom units from 58-70 sq m. Prices are 53,000 baht per sq m or between 1.5 million and 4.2 million baht a unit.
''Budget condominium competition in the area covering Onnuj to Udomsuk has become fiercer with around 3,000 units newly launched since last year. So we have to differentiate our project from the rivals,'' said Mr Sumeth.
The project's significant differences would be an A-shaped building that would offer more privacy in the units, wider units of up to 10 metres allowing more wind circulation, higher ceilings at 2.6 metres, and steel doors that could reduce noise.
''We focus on different designs with chic materials as we are architects and know material suppliers,'' he said, adding that the building's roof had a curved shape to reduce heat on the top floor.
It also plans to launch the Pranaluxe resort home project worth 300 million baht in Pran Buri, Phetchaburi province. Located on a 16-rai site, the estate will have 43 villas priced from 7.6 million baht a unit.
Currently, it has sold 40% of the units with all sales expected to close by mid-2008. Construction would start in July and be completed by the end of 2008.
Established early last year with registered capital of 50 million baht, the company developed a budget condominium, Phahon Metro Condominium on Soi Phahon Yothin 14 with 164 units, which sold out within five months.
The project also offers high returns to owners who let out units for rent. The rental rate was 20,000 baht per month for a 45-sq-m unit, said Mr Sumeth, also managing director of the architecture firm TM Design.
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