Sena – Hankyu Collaborates to Launch New Condo "Niche Pride Tao Pun – Interchange" reaffirming success with the highlight of "30-story common areas" shaking up the real estate industry for the first time in Thailand. A pre-sale is set for March 10. Knight Frank reveals the Tao Pun-Bang Sue area as a new potential hotspot.

          Assoc. Prof. Dr. Kessara Thanyalakphak Vice President of Sena Development Public Company Limited stated that Sena-Hankyu 1 Co., Ltd., a joint venture between SENA and Hankyu Realty Co., Ltd., a major real estate operator in Japan, part of the Hankyu Hanshin Holding Group, after successfully developing their first joint project "Niche Mono Sukhumvit – Bearing" last year, has received a very positive response from the target market, partly due to the Japanese innovations used under the concept "Geo fit+", a patented technology from Japan and the first of its kind in Thailand.

          To reinforce this success, they are preparing to launch a new project under the brand "Niche Pride Tao Pun – Interchange" located on over 3 rai of land next to Tao Pun BTS station on Pracharat 2 Road, Bang Sue, Bangkok. This high-end condominium project consists of a 38-story building with a total of 742 units, along with a 2-story commercial building. There are three unit types available: 1 Bedroom (28-32 sqm), 1 Bedroom Plus (34.50 sqm), and 2 Bedroom (49 sqm), with prices starting at 3.2 million baht or an average of 130,000 baht per square meter, totaling a project value of 3.4 billion baht.

          The design of the residences follows the Japanese style, catering to a balanced lifestyle under the concept of "My Select" which allows for customizable functions, whether it be a Working Zone for those who need a creative space or a Relaxing Zone for those looking to unwind and recharge in their units.

        Another highlight of the project's amenities is the unprecedented "30-story common area" offering over 7 lifestyle activities, both Active & Passive, including a Sky Fitness gym with a Sky Garden overlooking the city, a nearly 50-meter long Sky Infinity Edge Pool, Sky Lounge, Mini-Theater, Co-Working Space, Kid Club, Yoga Room, Party Room & Recreation Game Room, among others.

        

          Mr. Phanom Kanjanthiangta, Managing Director of Knight Frank Thailand Ltd. revealed that the Tao Pun-Bang Sue area is set to transform into the largest central transportation hub in Thailand, expected to be completed in 2020, becoming a new business center for Bangkok. The connection of the MRT between the blue line at Bang Sue and the purple line at Tao Pun, established in late 2017, significantly enhances the residential potential in the Tao Pun-Bang Sue area, combined with the Transit Oriented Development (TOD) concept covering over 300 rai of commercial space, developing land around the train station in a mixed-use format. In the future, four train lines will connect to Bang Sue Central Station, including the blue line, purple line, dark red line, and light red line. Additionally, Bang Sue Central Station will serve as the starting point for two high-speed rail lines: Bangkok – Chiang Mai (670 km) and Bangkok – Nong Khai (615 km), along with a 5-station extension of the Airport Rail Link connecting to Don Mueang and Suvarnabhumi airports. Besides transportation developments, a new parliament building is also under construction, leading to further infrastructure projects such as a new bridge across the Chao Phraya River, traffic lane expansions, and additional road constructions in the future. There is also a shopping center project, "Gateway Bang Sue," with an investment value of over 4 billion baht, providing over 40,000 square meters for retail stores, located just 650 meters from Tao Pun station, expected to open this year.

          Bang Sue Central Station (Phahonyothin Transportation Center) will also be developed into a model smart city, featuring various facilities, digital infrastructure, and energy infrastructure. Currently, the National Economic and Social Development Council (NESDC) has assigned ministries and relevant government agencies, as well as private sectors both domestically and internationally interested in supporting the development of the smart city, which will enhance the quality of life for citizens. Since 2009, the condominium development in the Tao Pun-Bang Sue area has accumulated approximately 30,200 units with a cumulative sales rate of 90% of the total supply by the end of Q4 2017.

 

 

 

 

Table 1: Demand, Supply, and Sales Rate of Condominiums in the Tao Pun-Bang Sue Area

Source: Knight Frank Thailand

          The average selling price per square meter of Grade A projects launched in the Tao Pun-Bang Sue area currently stands at approximately 117,000 baht, while the highest average selling price reaches up to 134,000 baht, with all projects located within 300 meters of Tao Pun BTS station. The development in the Tao Pun-Bang Sue area offers an alternative for condominium buyers compared to Grade A projects in nearby areas such as the upper Phahonyothin to Ratchayothin, where the average selling price per square meter is currently around 162,000 baht, with the highest price reaching 218,000 baht, which is 40% higher than projects in the Tao Pun-Bang Sue area.

Table 2: Average Selling Prices per Square Meter of Grade A-B Condominiums in Tao Pun-Bang Sue and Phahonyothin-Ratchayothin

Source: Knight Frank Thailand

          The condominium market in the Tao Pun-Bang Sue area is expected to benefit positively from the development of Bang Sue Central Station, the smart city project, and the commercial development around the transit station (TOD) in the future, along with comprehensive transportation factors connecting multiple train lines, making it convenient to travel to the city center. The price trend is likely to rise significantly due to the increasing demand for condominiums, along with rising land prices.

For the project "Niche Pride Tao Pun-Interchange," a standout project in the Tao Pun-Bang Sue area, the units are fully furnished and designed according to Japanese standards, featuring GEO Fit+ design furniture specifically created to maximize every square inch of the room. Additionally, the functionality within the room can be adjusted for either a Working Zone or Relaxing Zone to best meet the needs of residents (My Select Area). This project will be a valuable condominium that meets the demands of the future growth center, with pre-sale prices starting at just 3.2 million baht, along with an immediate discount of 200,000 baht for those who register during the pre-sale event on March 10 at the Niche Pride Tao Pun-Interchange project.

Thank you for the information from www.sena.co.th