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Developers add community flavour

Somluck Srimalee Nation
Developers add community flavour - Real Estate - Thailand - community flavour - social environment


Buyers believed to be seeking not just a house but also a social environment



As even higher competition creeps into the Bangkok property market, developers are paying heed to a new trend, of creating communities rather than building isolated groups of residences.

A survey by The Nation last week found a number of developers pushing a new selling point for their residential projects: they were offering a community concept, including a least a community mall in their projects, to support the lifestyle of those who have to stay at home, and to remove transportation problems from routine shopping errands.

Developers are counting on home-buyers preferring the purchase of an entire social environment rather than simply buying a residence, property experts say.

For example, KE Land, which earlier developed a detached-house project on Ram-Indra Road under the brand name Crystal, is now developing its first community residential project - also on Ram-Indra Road - by combining detached housing and a community mall.
TCC Land, a property arm of beverage tycoon Charoen Sirivadhana- bhakdi, is planning to develop 93.5 hectares of land on Kaset-Nawamin Road as an integrated township combining residential areas, a community mall and a commercial area.

SC Asset has also launched a new project on Phetkasem Road under a community residential concept.

Singapore-based Pacific Star International (Thailand) is building its second residential project on Thong Lor soi 8, called Eight Thonglor Residences. It will be a mixed-use building with a market value of Bt4 billion, consisting of a condominium with 196 units, 150 serviced apartments, and a three-storeyed retail building with 5,600 square metres of floor space.

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