Sansiri PCL opens its doors to Malaysian investors

PETALING JAYA: Thai developer Sansiri PCL will launch its condominium project The Base Park East this weekend in Bandar Utama. “Though not as popular as the United Kingdom or Australia, Thailand is an emerging market or nation with great potential and sustainable economic growth. Thailand is only second to Singapore in terms of foreign direct investment among the Asean nations,” said Sansiri PCL spokesperson, Garaget Iampongpaitoon.

The project is located in the 16.2-acre integrated development, Sukhumvit 77, which has a gross development value of THB14 billion (RM1.69 billion). The 0.97-acre Base Park East comprises a 27-storey building housing 504 units. These have a built-up area of between 26 sq m and 37.5 sq m for one-bedroom units, and 48.5 sq m for the two-bedroom units. Tentative prices are between THB3 million and THB6.4 million.

“Rental yields have been averaging between 6% to 7% per annum, particularly in Bangkok,” Iampongpaitoon said.

The development’s facilities include a swimming pool, exercise room,  garden and outdoor recreation area, shops, 24-hour security and CCTV monitoring. Nearby amenities include a mall, On Nut Bangkok SkyTrain station, an international school, kindergarten, hypermarket, hospital and park.

T77’s other condominium blocks are The Base Park West, Bloc 77, Hasu Haus 1, The Base Sukhumvit 77, and the 34-unit high-end condominium, Garden Square. Also located in the integrated township are a 10,000 sq m community mall, Habito, and the Bangkok International Preparatory and Secondary School.

“Bangkok is the economic centre for the country’s investment and development projects. Demand for homes close to the mass-transit system is growing strong. More consumers will express interest in developments towards the city’s fringes, especially locations close to Bangkok transit system (BTS) stations for commuting convenience and relatively predictable commute times,” Iampongpaitoon said.

According to Iampongpaitoon, there is a decentralising trend downwards from the BTS to On Nut from Bangkok’s central business district, encouraged by railway double-tracking, motorways, and new mass-transit routes as part of an official effort to make Thailand the Southeast Asian hub of the One Belt One Road initiative by China.

This article was first published in The Edge Property pullout, Jan 22, 2016, that appears every Friday with The Edge Financial Daily. Tap here to download your personal copy of The Edge Property pullout for free.