After launching The Base Phetkasem last May, Sansiri revealed the potential of the Thonburi area, particularly the Phetkasem location, which has received an unexpectedly positive response, allowing them to achieve over 70% of their sales target, amounting to 1.4 billion baht. This success is attributed to the favorable feedback from both Thai and foreign customers who recognize the value and potential of the location, just 120 meters from the MRT station.

            Ms. Warangkhana Akkrasathaporn, General Manager of BTS Sansiri Holding Group stated, “The Base Phetkasem is the first condominium project in the Thonburi area developed by BTS Sansiri Holding Group, a joint venture between Sansiri and BTS. We see the potential of the Phetkasem area, which has easy access to the city center and business districts via the BTS, while also allowing residents to live closer to nature. Since the official launch in May, we have not only attracted interest from Thai customers but also received an unexpectedly strong response from foreign buyers. Currently, The Base Phetkasem has achieved over 70% sales, with foreign customers accounting for 30% of total sales, thanks to roadshows held in Hong Kong and China last August. This reflects the confidence in the Sansiri brand for project development and after-sales service, establishing Sansiri as a prominent real estate brand in Thailand, widely recognized among foreign customers. Additionally, Sansiri sees a trend of foreign investment in Thai real estate shifting towards suburban areas due to relatively affordable prices, making decision-making easier. Coupled with the ongoing expansion of public transport systems, such as the opening of the BTS Green Line and the Blue Line extension from Bang Sue to Thapra, which is already over 94% complete and expected to open in 2019, the Phetkasem area is poised for growth in all aspects, including private sector investment in community malls, shopping centers, and universities to support the large community suitable for residential living. Therefore, The Base Phetkasem is one of Sansiri's projects with promising prospects, and we anticipate that real estate developers will increasingly invest in this area in the future.”

            The Phetkasem area is considered a major HUB in Thonburi, covering four districts of Bangkok: Bangkok Yai, Phasi Charoen, Bang Khae, and Nong Khaem, with a total population of over 550,000 people, resulting in a high density of 2.35 people per household, compared to the Bangkok average of 2.13. This has led to an increasing demand for housing, with the current supply of high-rise condominiums on Phetkasem Road at 10,386 units and demand at 4,573 units. Projects near the BTS have an average price of 92,000 baht per square meter, which is relatively affordable compared to condominiums near the city center (data from Plus Property Co., Ltd.).

            “The resale prices in this area are attractive due to various positive factors, such as continuously rising land prices, which have increased by 45-80% within less than five years, averaging a 9% annual increase. Particularly, land prices near the BTS along Phetkasem Road have risen by 13% annually. Once the BTS is completed, land prices, especially along the BTS lines, are expected to increase by another 10% per year. This has resulted in favorable responses for resale prices of condominiums launched in the past 3-5 years, with profits from resales increasing by up to 30%. It is anticipated that once the public transport system is fully operational, prices will increase by an average of 5% per year, while currently offering rental yields of approximately 5-6%. This potential makes it likely that Sansiri will continue to develop real estate projects in this area,” Ms. Warangkhana added.

            The Base Phetkasem is a high-rise condominium project with 30 floors and 640 units, valued at 1.85 billion baht, located in the Phetkasem area. It features the concept of “Every Mode of Life” for the first time!! The condominium accommodates all forms of transportation—car, boat, and rail—making it easy to connect to the city, just 48 meters from MRT Phetkasem and 120 meters from the Blue Line extension (Hua Lamphong – Bang Khae), expected to open within 2019. It offers a comprehensive lifestyle experience with designated areas to support various lifestyles, whether for private relaxation or diverse work needs. Notably, it features a two-level Sky Fitness on the 28th and 30th floors, equipped with complete facilities, and a 40-meter swimming pool for a unique view experience. There are two unit types available: a 1-bedroom, 1-bathroom unit ranging from 23.00-32.50 square meters, and a 2-bedroom, 1-bathroom unit ranging from 44.00-52.25 square meters, with construction expected to be completed by 2020. Currently, special offers include free furniture and appliances, with prices starting at 2.47 million baht or monthly payments starting at just 5,900 baht.

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