"Nawarang Asset" points out that Charoen Nakhon Road is a prime location for living and investment, thanks to the new Ministry of Interior along the Chao Phraya River, featuring 6 buildings and a total area of over 200,000 square meters. The new electric train system creates profit opportunities for real estate investors looking to buy condos for rent, with returns of no less than 5% per year.

Mr. Apiphu Phromyothi, CEO of Nawarang Asset Co., Ltd. stated that since the Thonburi side, particularly Charoen Nakhon Road, has seen the opening of the extended Green Line electric train and the Gold Line project, along with the development of large shopping centers, the Charoen Nakhon area has become another important prime location in Bangkok for both residential and commercial purposes due to numerous significant projects developed in recent years.

In addition to previously opened projects, it is noted that the Charoen Nakhon area has large projects set to be completed in the near future, with the first phase expected to finish between late 2023 and 2024, such as the new Ministry of Interior government center along the Chao Phraya River on a 19-rai plot, consisting of 6 office buildings with a total area of over 220,000 square meters. This will become a major employment hub in the Thonburi area, as over 7,000 civil servants and officials from 7 departments of the Ministry of Interior will work there.

“In the future, the Charoen Nakhon area will see many new projects developed by large investment groups to enhance commercial development, further increasing the attractiveness of this prime location in Bangkok. Previously, many condominium projects were launched to meet the residential demand in Charoen Nakhon, but currently, the supply is limited. It is believed that once the Ministry of Interior government center is completed, it will attract the development of new condo projects, although prices are expected to rise due to the scarcity and high cost of land for development.”

Recognizing the potential of the Charoen Nakhon area, the company is developing the Na Riva Charoen Nakhon project on Charoen Nakhon Road, with a total investment of approximately 1.3 billion baht. This high-rise condominium project, standing 29 stories tall, features 253 residential units, offering a unique and private living experience with only 13 units per floor.

For the Na Riva Charoen Nakhon project, the company has partnered with Paramount Corporation Berhad, a leading real estate developer from Malaysia, to develop this project with a vision of the potential of the Charoen Nakhon area, which is a prime location. The project offers views of the widest curve of the Chao Phraya River and features 5 types of units: 1-Bedroom, 1-Bedroom Loft, 1-Bedroom Executive, 1-Bedroom Plus, and 2-Bedroom.

Additionally, the project includes a highlight unit, which is a beautifully designed two-story or loft unit that is perfect for living and offers hotel-level executive floor services, making it suitable for residence or investment through rental, catering to civil servants or officials from the Ministry of Interior who will move to work in the Charoen Nakhon area, as well as those working in the CBD areas like Sathorn or Silom. The project's location allows for easy access to the city center and is close to leading international schools and the Icon Siam shopping mall.

“Currently, the Na Riva Charoen Nakhon project is under construction and is expected to be completed by the end of this year, with ownership transfer available in early 2024, coinciding with the completion of the new government center. This makes it a ready-to-move-in project for civil servants or officials from the Ministry of Interior who will be relocating to the new government center, as it offers convenient commuting options. For real estate investors interested in purchasing for rental, this is a great opportunity, as units in this area can be rented for no less than 10,000 baht per month for a small 25-square-meter unit, yielding returns of no less than 5%. This is indeed a great opportunity for those interested in investing in the condominium rental business,” Mr. Apiphu concluded.