Major Development is a long-established company in the luxury real estate and pet-friendly condo market, committed to becoming a Lifescape Developer. This means not only developing projects but also creating lifestyles that meet consumer needs in every dimension. The next step in property development is to expand their portfolio by fully adjusting the project development ratio to focus on horizontal developments, preparing to develop projects on 15 plots of land with a total of 15 quality projects.

In 2023, they will launch 7 projects valued at over 15.2 billion baht, with another 8 projects planned for 2024-2025 worth over 16.15 billion baht, including horizontal projects valued at 8.9 billion baht and condos worth 7.25 billion baht. They are also partnering with GS E&C, the number one property developer in South Korea, to develop the Maru Chula high-rise condo project in the heart of Chula-Samyan, set to launch in 2024. This brand has a high number of projects awaiting development, and this year they have a backlog of over 2.5 billion baht waiting to be recognized as revenue.

The 7 projects launching this year come with 5 new brands targeting middle to high-end customers, including 5 horizontal projects: 10&ONLY Pattanakarn 20, a limited edition super luxury single house; Mayfield Lane Ratchada - Ladprao, a luxury single house in the city center; Mayfield Pinklao; Mayfield Ramintra-Kubon, premium high-end townhomes; and Milford Ladprao-Ramkhamhaeng, high-end townhomes.

There are also 2 condo projects: Muniq Phrom Phong and Marquis Phayathai, both super luxury condos designed with wellness features. Each location will be detailed in this article.

Luxury Homes and Condos in 7 Potential Locations

Ratchada-Ladprao Area: Connecting 3 Subway Lines in the Heart of Ladprao

When discussing the true center of the Ratchada-Ladprao zone, it must be the intersection of Ratchadaphisek Road and Ladprao Road. This area is a crucial interchange for the yellow and blue subway lines. The Ratchada-Ladprao zone is considered a high-potential inner-city area, close to the northern Bangkok hub at Ladprao Intersection, connecting three subway lines (Green BTS, Blue MRT, Yellow MRT). Even projects located within alleys can easily connect to main roads such as Ratchada, Ladprao, and Vibhavadi Rangsit. Additionally, this location has seen significant changes since the subway interchange was established, with clusters of offices and lifestyle venues like S Oasis, Lumpini Tower, and JODD Fair, as well as several mega-projects in the pipeline, including Central Phaholyothin, Bangkok Terminal, and Mochit Complex, all surrounding the central island of Ratchada-Ladprao, where the Mayfield Lane Ratchada - Ladprao project is located.

Although Ratchada-Ladprao has many condos, the area continues to see the development of horizontal housing projects, mostly small-scale with no more than 20 units. Currently, there are 5 projects still available for sale, including 3 single houses priced from 39 to 85 million baht* and 2 townhome projects priced between 15.9 and 22 million baht*. Mayfield Ratchada - Ladprao is a new project featuring both single and twin houses on a 1-3-36 rai plot with 11 units, starting at 34 to 41 million baht*, which is comparable to market prices. The project's highlight is its location with multiple access routes, just 550 meters from MRT Ladprao, making it very convenient for both car and public transport users.

Ramkhamhaeng Area: Connecting Future Subway Lines Surrounded by Amenities

Ramkhamhaeng is another key area that has been significantly upgraded with the introduction of two subway lines: the orange and yellow lines, making Ramkhamhaeng a perfect zone for the expansion of eastern Bangkok. This is reflected in the Bangkok Metropolitan Master Plan, Revised Edition 4, B.E... which designates the Ramkhamhaeng area for medium-density residential use (orange zone).

In addition to the convenience of public transport, traveling by private car is equally easy, with the Chalong Ratch Expressway providing quick access to the heart of Sukhumvit. The area is surrounded by lifestyle venues, including the Ram Inthra Expressway zone, Ramkhamhaeng zone, and Ladprao zone.

Milford Ladprao-Ramkhamhaeng is located in Soi Ramkhamhaeng 53, an area that has seen continuous growth in land valuation since the subway development began. This area has seen an increase in various projects, especially along Ladprao Road. Previously, the land valuation from 2016-2018 was 130,000 baht per square wah, but from 2023-2026, the price has grown to 150,000 - 200,000 baht per square wah. The areas along Ramkhamhaeng Road and Pradit Manutham Road have also seen continuous price growth. The overall growth of land prices in the Ramkhamhaeng area is over 20% per assessment year. The actual land sale prices in this area are around 250,000 baht per square wah, which is 25% higher than the assessed price.

Phatthanakan Area Near Expressway Access and Yellow Line

Phatthanakan is a prime residential area with its proximity to Thonglor-Ekkamai-Phetchaburi, just a moment away, and several expressways passing through, including the Chalong Ratch and Si Rat expressways, all connecting to important city locations. Additionally, it can easily connect to major roads such as Phatthanakan Road, On Nut Road, Srinakarin Road, and Rama 9 Road. Thus, the Phatthanakan area is centrally located between the Green Line District (southern Sukhumvit) and the Yellow Line District (Srinakarin).

Phatthanakan is home to several super luxury housing projects, including both single houses and luxury villas, with prices ranging from 49 to 297 million baht, land sizes starting from 60 to 219 square wah, and usable areas from 440 to 1,900 square meters. Each project has its unique characteristics. 10&ONLY Pattanakarn 20 is the latest project in the area, featuring ultra-luxury single houses of 3-4 stories on a 4-0-63 rai plot, offering the utmost privacy for just 10 families. The design is based on the Craft & Quality concept, meticulously crafted in every detail, with special features like a Duplex Supercar Lounge. There are three house models available, with land sizes from 91 to 144 square wah and usable areas from 638 to 962 square meters, accommodating up to 7 cars.

Pinklao Area: The True Heart of Pinklao

Finding a horizontal project in the Pinklao area is challenging, but not with Mayfield Pinklao, which is located on Borommaratchachonnani Road, opposite Central Pinklao, the true center of the area, surrounded by lifestyle venues such as Major Cineplex Pinklao, The Sense Pinklao, and Chang Chui. The area is well-connected by public transport, allowing easy access across the river to Phra Nakhon via three bridges: the Phra Pin Klao Bridge, Rama 8 Bridge, and Sang Hi Bridge. Importantly, due to the high level of urban development in this area, it has become increasingly difficult to find horizontal projects.

The Pinklao area has seen continuous condo development due to limited land availability and rising land prices, making horizontal project developments rare. Mayfield Pinklao is the only townhome project in the Pinklao area, offering a new option for those wanting to live close to the city with large usable spaces. It is a private townhome project of 3.5 - 4 stories with only 68 units, land sizes from 28 to 70 square wah, and usable areas from 290 to 395 square meters, starting at 14.5 million baht*. The project's highlight is its spacious layout, featuring 3-4 bedrooms, each with an en-suite bathroom, parking for 2-3 cars, and a design that emphasizes open space with natural light and double volume ceilings for a comfortable living experience.

Ramintra-Kubon Area: Connecting the Eastern Ring Road

The Ramintra-Kubon area has long been a popular location for horizontal housing due to its convenient transportation options, with Kanchanaphisek Road (Eastern Ring Road) providing quick access to the Chalong Ratch Expressway and the Bangkok-Chonburi Motorway. Additionally, Kubon Road is a main road that connects to several routes leading to Lat Phrao and Ramintra, making the entire Kubon Road area a high-growth residential zone. The key attractions in the Ramintra-Kubon area include The Promenade and Fashion Island shopping centers, which not only serve as major lifestyle hubs but also connect with several roads, including Ramintra Road, Ratchada-Ramintra Road, Nawamin Road, and Kanchanaphisek Road.

Mayfield Ramintra-Kubon is a townhome project in the Ramintra area, which has seen an average land valuation growth of 7% per year. The current assessed price is 125,000 baht per square wah, up from the previous assessment period of 95,000 - 100,000 baht per square wah. The growth in land valuation is another indicator of Ramintra's potential, with actual market prices for land trading between 150,000 and 230,000 baht per square wah, nearly double the assessed price.

Phrom Phong Area: The Heart of Sukhumvit

For a long time, the Phrom Phong area has been recognized as a luxury location in the heart of Bangkok. Its central Sukhumvit location allows easy access to urban amenities along Sukhumvit Road, especially luxury lifestyles, surrounded by high-end shopping centers such as Emporium, EmQuartier, Central Embassy, and Terminal 21, as well as the office areas of Phloen Chit-Asoke filled with Grade A offices and talent like One City Centre, Park Venture, and Exchange Tower. Moreover, Phrom Phong provides easy access to Rama 4 Road, an area with several mega-projects underway, such as One Bangkok, Dusit Central Park, The PARQ, FYI Center, and the Queen Sirikit National Convention Center, as well as vibrant hangout spots in the bustling Thonglor-Ekkamai area, making Phrom Phong a central hub that connects to all aspects of Sukhumvit.

The potential of the Phrom Phong area as a luxury location is reflected in the actual market prices for land, which are currently trading at 2.6 million baht per square wah, with an average land value growth of 7% per year compared to 10 years ago when land was sold for 1.5 million baht per square wah.

Muniq Phrom Phong is a new project set to launch in this area, located along Sukhumvit Road, adjacent to BTS Phrom Phong and EmQuartier, just a few steps away. This luxury condo is priced starting at 310,000 baht per square meter.*

Phaya Thai Area: The Emerging Hotspot of Inner Bangkok

Phaya Thai is another area that cannot be overlooked in terms of its rising popularity. Once a quiet inner city area, Phaya Thai has seen significant changes over the past 4-5 years, being designated as a Medical Hub of Bangkok under the Yothi Medical Innovation District (YMID) project, which aims to be a center for modern medical science, attracting over 25,000 medical professionals. Additionally, several new mixed-use projects have emerged, such as Spring Tower, Unicorn, and JRK Tower, covering a total area of 95,355 square meters and attracting over 9,500 new professionals.

The rising popularity of Phaya Thai is evident from the continuously increasing assessed land values, growing at an average of over 10% per year. The ongoing influx of office buildings, mixed-use projects, and medical institutions all contribute to the future increase in land values in this area.

Marquis Phayathai is a new condo project under the Super Luxury Wellness concept, located near the BTS Anusawari station, just 270 meters away, and BTS Phaya Thai, only 450 meters away, with an average launch price starting at 265,000 baht per square meter.*

All of these are the 7 projects that Major Development intends to develop to meet consumer housing needs. Each project is located in areas that offer convenient transportation and are surrounded by lifestyle venues that cater to living needs and are potential locations for future growth.

In addition to the 7 highlighted projects, Major Development also has 8 more plots of land ready for development scattered throughout Bangkok, including areas like Ari, Chula, Charoen Krung, and Krungthep Kreetha, totaling 15 projects in the pipeline worth over 30 billion baht. This path will enable MJD to undergo significant transformation, making it a developer to watch closely.