The Amarin unveils its latest project, “Aroon Siriraj Triple Station,” a premium condominium located in the Siriraj area, showcasing its unique advantage of triple connectivity with three nearby MRT stations. The project offers three superior living experiences: ‘Luxury, Privacy, Greenery.’ It features timeless luxury design, privacy, and safety in a naturally serene environment, ensuring positive feedback due to the potential of the Siriraj area, a prime location both now and in the future as a national Medical Hub. According to CBRE Thailand, the Siriraj area is a golden location for investing in rental condos, offering returns of 5-6% per year.

Mr. Arathwut Thamjaroen, Managing Director of The Amarin Co., Ltd., a real estate developer under the Aroon brand, shared details about the new project “Aroon Siriraj Triple Station” (AROON Siriraj Triple Station), a low-rise condominium with 8 floors and 170 units, valued at 800 million baht, situated on over 1 rai on Charansanitwong 32 Road, just 120 meters from the MRT Blue Line Bang Khun Non Station, near Siriraj Hospital and various amenities such as shopping malls and universities.

Distinctive with Triple Convenience from Three MRT Stations

After the success of its previous two projects, Aroon Siriraj Triple Station marks the third project of the company, continuing its development near Siriraj Hospital. “Aroon Siriraj Triple Station is not only close to Siriraj Hospital but is also surrounded by three MRT stations: the Blue Line MRT Bang Khun Non Station, just 120 meters away, and two future stations, the Orange Line MRT and the Light Red SRT, which will connect to Siriraj Hospital and Siriraj Piyamaharajkarun Hospital in just one station,” Mr. Arathwut pointed out the project's location advantages.

Distinctive with Living Experience

Mr. Arathwut further revealed that ‘Aroon Siriraj Triple Station’ has been meticulously designed with attention to detail to provide a unique living experience filled with happiness for residents. “In addition to the outstanding location that offers convenient transportation, the comfort of living is another aspect we prioritize. We draw inspiration from the harmony with nature, tranquility, privacy, and sustainability, leading to three best living experiences:

  1. Luxury - Timeless design with a focus on architecture, modernity, and the selection of materials that prioritize quality and aesthetics.
  2. Privacy - Maximum privacy with only 170 units, reducing congestion and catering to residents who value their privacy.
  3. Greenery - Green spaces that bring residents closer to nature, designed so that ground floor units can benefit from direct access to gardens, while amenities are tailored to the lifestyle and needs of residents.

“Additionally, the project meets all living needs with three types of units available: 1-bedroom units ranging from 28-43.2 square meters starting at 4.5 million baht, 2-bedroom units from 48.1-66.6 square meters starting at 6.9 million baht, and 3-bedroom units from 101.7-103.8 square meters starting at 15.1 million baht. The project allocates parking space for up to 47%, with 24-hour security staff, a Benz Vito shuttle service between the project, Siriraj Hospital, and a premium supermarket. Other complete amenities include a 6-meter high welcoming lobby that feels spacious and airy, allowing natural light in, aligning with the concept of “Aroon,” which symbolizes sunlight, a gym with external views, a Co-Kitchen area designed for dining and mini bar setups for gatherings with a personal chef, a Co-Working Space with clearly defined private and public meeting zones, and a rooftop swimming pool with lockers and Moonlight Seats, enhancing relaxation while enjoying panoramic views,” the Managing Director of The Amarin revealed.

Siriraj: A Location of the Future

Mr. Arathwut noted that being a local, he sees the continuous growth potential of the area from the past to the present, and in the future, this area will transform into a Medical District, with Siriraj Hospital planning to develop a 15-story medical building connected to the Siriraj Station, which is part of the Faculty of Medicine at Siriraj, with connections to the Orange Line and Light Red Line MRT, as well as being the first health and public transport hub in Thailand. Siriraj Hospital has made agreements with the State Railway of Thailand (SRT) and the Mass Rapid Transit Authority of Thailand (MRTA) to jointly develop this project, along with plans to develop the SRT land near Siriraj Hospital, such as renovating over 50-60-year-old staff accommodation buildings and developing commercial areas along the connecting pathways, such as pedestrian streets, which will elevate the standard of the area and increase the number of people using the services and living in the area.

Mr. Arathwut further stated that currently, land around Siriraj Hospital is difficult to develop due to landowners having no plans to sell, as most are long-term residents of over 30-60 years and own small plots of land. To purchase land for development, multiple plots must be acquired, which limits development opportunities. Additionally, the area surrounding Rattanakosin Island is a conservation area where buildings cannot exceed five stories. Therefore, project development must expand outward, but there are still challenges as most land is owned by the railway, which cannot be bought for development. Thus, developing Aroon Siriraj Triple Station on over 1 rai is a rare opportunity, making it truly an exclusive location.

The Aroon Siriraj Triple Station project continues to target real residents, especially doctors, nurses, hospital staff, and parents with children studying at the Faculty of Medicine at Siriraj Hospital, Mahidol University, and nearby universities, as well as investors buying for speculation and rental purposes. It is believed that the Aroon Siriraj Triple Station project will receive positive responses similar to previous projects, which sold 80% within three months, as the company continues to develop under the concept of providing quality, value, and affordability, making it a valuable asset for the future.

Ms. Atithya Kasemlawan, Head of Residential Project Sales at CBRE Thailand, stated that the overall condominium market in midtown/suburban areas, which are densely populated, saw over 751,987 completed units and 100,163 units under construction in the first half of 2024, with an average sales rate of 63.1%. When focusing on the Siriraj area, which is in a prime midtown location, it is considered a golden location both now and in the future. The supply of condominiums around Siriraj is only 4,197 units, with projects near MRT stations within a 1-kilometer radius having an average sales rate of 81%, while those further than 1 kilometer have an average sales rate of only 64%. This indicates that proximity to the MRT is one of the top factors in choosing a residence.

Moreover, there are significant supporting factors, such as being a major employment hub for over 17,000 medical personnel, a leading educational source with the Faculty of Medicine at Siriraj Hospital, Mahidol University, Thammasat University (Tha Phra Chan), and Silpakorn University, totaling over 8,000 students, along with over 12,000 patients visiting Siriraj Hospital daily, not including the over 100,000 residents in the Bangkok Noi area. This creates a high and continuous demand for housing in the area. Additionally, insights from medical personnel indicate that projects near hospitals, close to MRT stations, with 24-hour common areas, and shuttle services to the hospital around the clock, along with fewer units and high privacy, are crucial factors in choosing a residence, which the Aroon Siriraj Triple Station project meets.

In the future, the Siriraj area will see the development of significant mega-projects, including becoming a transportation hub, with plans to develop the Light Red and Orange MRT lines (future extensions expected to open in 2028 and 2029, respectively) connecting to the existing Blue Line MRT Bang Khun Non Station, creating a junction for three MRT lines, enhancing the convenience of travel between the Siriraj area and other parts of Bangkok. In the future, traveling to the city center, such as Siam, will be much quicker, taking no more than 20 minutes or just seven stations away, with passengers having various travel options, including roads, MRT, rail, or waterways.

“With the positive factors of the area, which will be developed in various aspects, including becoming a medical city, transportation system development, and commercial area development by the railway, the Siriraj area is a golden location now and in the future, attracting significant interest from investors and real estate developers. However, launching residential projects is quite challenging due to the scarcity and high prices of land, as well as development and legal constraints. Therefore, when a condominium project is launched, it receives a good response due to demand from both real residents and investors buying for speculation or rental purposes, yielding average rental returns of 5-6% per year. The project will have a pre-sale event at the sales office located on Sutthawas Road on November 2-3, 2024, with Early Bird prices starting at just 4.5 million baht* for 1-bedroom units, fully furnished,” Ms. Atithya concluded.