Eastern Star Real Estate Public Company Limited, or <\/span><\/strong>ESTAR<\/strong><\/span><\/span> has opened the viewing for the project "Quintara Phum Sukhumvit 39," one of ESTAR's successful high-end residential projects in a prime location. The Sukhumvit area is a key market for condominiums, with the new project Quintara My'Sen Phrom Phong continuing to expand.<\/span><\/p>

Mr. Pairoj Watanaworodom, Managing Director of Eastern Star Real Estate Public Company Limited, or <\/span><\/strong>ESTAR <\/strong><\/span><\/span>, revealed that ESTAR has previously developed high-rise projects along Sukhumvit, including Quintara Treehouse Sukhumvit 42, Quintara Athe Sukhumvit 52, and Quintara Phum Sukhumvit 39. These projects have received a very positive response from target customers, as evidenced by the sales targets of all three projects. For instance, the Quintara Treehouse Sukhumvit 42 has achieved 100% sales, while Quintara Athe Sukhumvit 52 has reached 98% and is expected to close sales and be ready for transfer within this year. Meanwhile, Quintara Phum Sukhumvit 39 has achieved a very satisfactory sales rate of 70%. The popularity of the product aligns well with the target demographic in the central economic area, which gives ESTAR confidence in the location and the ongoing expansion of the 1 billion baht Quintara My'Sen Phrom Phong project launched earlier this year.<\/span><\/p>

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“Based on an analysis of the potential of the Phrom Phong area, it ranks among the top three most promising locations on Sukhumvit Road and in Bangkok as a whole. This area is an inner-city zone, characterized by large houses and abundant greenery, providing a good, quiet environment. As land becomes increasingly scarce, it is worthwhile for both personal residence and investment purposes. Currently, the residential price in the Phrom Phong area is around 220,000 baht/sq.m. Given its prime location, the company has developed over 2 rai of land in Soi Phrom Phong or Sukhumvit 39 into the Quintara Phum Sukhumvit 39 project, a low-rise condominium of 8 stories with 2 buildings totaling 323 units, valued at 1.3 billion baht. The units are designed as 1-bedroom apartments ranging from 28-38 sq.m. and 2-bedroom apartments from 58-64 sq.m., with prices starting at just 2.99 million baht. When calculated, the average selling price of the project is approximately 100,000 baht/sq.m., which is considered a good and competitive price in this area, as Phrom Phong is a popular location for both Thais and foreigners, including the influx of workers in this area,” Mr. Pairoj stated.<\/span><\/p>

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Mr. Pairoj discussed the customer demographics in the Phrom Phong area, noting that 51% are primarily employees from private companies in the Phrom Phong-Asoke area, hotel staff, and personnel from leading hospitals. Additionally, 21% are business owners in the vicinity, along with parents and university students in the area. Another 8% are employees in various government agencies, while 20% are customers looking to invest. The Quintara Phum Sukhumvit 39 project has been conceptualized and designed to align with the area, incorporating the unique characteristics of traditional Thai houses, creating an attractive living environment. The common area on the 4th floor is designed to resemble a communal relaxation space for families, complemented by a beautiful garden that runs along the building, creating a picturesque view that harmonizes with nature. Although the project is located in a soi, it is conveniently connected to transportation via the BTS Phrom Phong station, cars, and multiple access routes through Asoke, Sukhumvit, Thonglor, and Phetchaburi. The area is also surrounded by top-notch amenities in a luxury style, including the EmQuartier shopping center, numerous restaurants, and cafes, as well as being close to educational institutions such as Srinakharinwirot University, Watanawit School, and international schools, along with leading hospitals like Samitivej Hospital, Bangkok Hospital, and Camillian Hospital, among others.<\/span><\/p>

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Mr. Pairoj further mentioned the latest investment development in the Phrom Phong area, which will be developed similarly under the Quintara My' series concept "Creator of Life’s Pleasures." This includes the Quintara My'Sen Phrom Phong project, valued at 1 billion baht, an 8-story condominium with 2 buildings and 276 units on a 2 rai plot, with prices starting at a competitive 2.49 million baht. The project features a Zen lifestyle design that is simple, comfortable, and harmonious, with room designs available in studio, 1-bedroom, and 2-bedroom formats ranging from 21-65 sq.m. Currently under construction, it is expected to be completed and launched in Q4/2024. As of now, the Quintara My'Sen Phrom Phong project has already achieved over 50% pre-sales.<\/span><\/p>

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The company anticipates the real estate market situation in the second half of the year, considering issues such as rising household debt and an aging population in Thailand. The lifestyle of the Gen Z demographic is shifting towards renting rather than buying. Additionally, the increasing land prices have raised construction costs, leading to higher residential prices, prompting consumers to seek locations outside the city. However, this shift comes with increased living and commuting costs. Given these initial constraints, ESTAR is committed to developing residential projects that offer value, affordability, and lifestyles that meet consumer needs. If the government can support or reinstate first-time homebuyer policies and adjust LTV measures to facilitate home and condominium purchases, it would benefit customers and enhance liquidity in the real estate sector,” Mr. Pairoj concluded.<\/span><\/p>