|
The listed developer Prinsiri Plc is making a major strategic shift with the launch of a mid- to lower-priced condominium in Pattaya, a resort in Pranburi, as well as single houses for rent in the Kaset-Navamin area of Bangkok.
Design work is under way on the Pattaya and Pranburi projects and the investment budget would be finalised within the third quarter, said Siriluck Kovitchindachai, Prinsiri's president and managing director.
A hotel chain will be hired to operate the development in Pranburi, Prachuap Khiri Khan. The 19-rai beachfront site will offer pool villas with four- to five-star hotel service.
In Pattaya, the company spent 50 million baht to acquire a 10-rai plot and will use two rai for a 300-unit condominium under a new brand to be launched by year-end.
The company also has 74 rai near the Sarasin Bridge in Phangnga where it plans to develop a resort next year.
Ms Siriluck herself has a holiday home in Chiang Mai but she says beach resorts are more lucrative for developers, with room rates of up to 5,000 baht a night, compared with 1,000 baht for a hill resort.
'If possible, I will open [resorts] in all the famous beach destinations _ Pattaya, Cha-am, Hua Hin, Phuket and Samui. I plan to spend my life after retirement at a beach resort,'' said the 60-year-old executive.
Before retiring, she wants to ensure Prinsiri can maintain housing annual sales of five to six billion baht.
The company has also hired the property agency Jones Lang LaSalle to study the rental market. It plans to rent out 20 completed units in its Siritawara Oriental luxury housing estate on Ekamai-Rarm Intra Road to expatriates at 80,000 to 100,000 baht per month.
The lower-priced units that Prinsiri plans to launch this year will be fully furnished, in line with a growing trend.
''It's easier for customers to ask for housing loans that include the house and furniture,'' said Ms Siriluck. ''The amount they will spend for a fully furnished unit will be lower than if they had to buy from a shop as we have deals to get good prices from suppliers.''
|
