Mr. Phanom Kanjanthiangtao, Managing Director of Knight Frank Thailand Co., Ltd. <\/span><\/strong>revealed that the Tao Poon-Bang Sue area is set to transform into the largest mass transit hub in Thailand, expected to be completed in 2020. This will become a new business center for Bangkok, especially with the connection of the MRT between the Blue Line at Bang Sue station and the Purple Line at Tao Poon station, which was completed in late 2017. This significantly enhances the residential potential in the Tao Poon-Bang Sue area, combined with the concept of Transit Oriented Development (TOD) surrounding the mass transit station, covering over 300 rai of commercial space. This development will feature four train lines connecting to Bang Sue Grand Station in the future, including the Blue Line, Purple Line, Dark Red Line, and Light Red Line. In addition to these four lines, Bang Sue Grand Station will also serve as the starting point for two high-speed rail routes: Bangkok to Chiang Mai, covering 670 km, and Bangkok to Nong Khai, covering 615 km. Furthermore, there will be an extension of the Airport Rail Link with five stations from Phaya Thai station connecting to Don Mueang Airport and Suvarnabhumi Airport. Alongside transportation developments, there is also a new parliament construction project that will lead to further infrastructure developments, such as a new bridge across the Chao Phraya River, traffic lane expansions, and additional road constructions in the future. Additionally, there is a shopping center project, "Gateway Bang Sue," with an investment value of over 4 billion baht, providing over 40,000 square meters of retail space, located just 650 meters from Tao Poon station, expected to open this year.

          Bang Sue Grand 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 Board (NESDB) has assigned ministries and other relevant government agencies, as well as interested private sectors both domestically and internationally, to support the development of this smart city, which will enhance the quality of life for citizens.

The development of condominium projects in the Tao Poon-Bang Sue area from 2009 to the end of Q4 2017 has accumulated a total supply of approximately 30,200 units, with a cumulative sales rate of 90% of the total supply.

Table 1: Demand, Supply, and Sales Rate of Condominiums in the Tao Poon-Bang Sue Area<\/span><\/p>

<\/strong><\/p>

Source: Knight Frank Thailand

          The average selling price per square meter of Grade A projects launched in the Tao Poon-Bang Sue area currently stands at approximately 117,000 baht, while the highest average selling price reaches up to 134,000 baht. All projects are located within a 300-meter radius from Tao Poon station. The development in the Tao Poon-Bang Sue area is 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 Poon-Bang Sue area.

Table 2: Average Selling Prices per Square Meter of Grade A-B Condominiums in Tao Poon-Bang Sue and Phahonyothin-Ratchayothin<\/span><\/p>

<\/strong><\/p>

<\/strong><\/p>

Source: Knight Frank Thailand

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

          The "Niche Pride Tao Poon-Interchange" project is another standout project in the Tao Poon-Bang Sue area, designed as Fully Furnished with standards based on Japanese design. The furniture features GEO Fit+ design, specifically tailored to maximize every square inch of the room. It also allows for flexible usage within the room, whether as 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 urban center, with a starting pre-sale price of only 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 Poon-Interchange project.