'Siam Sindhorn' is moving forward to create a mixed-use kingdom with 'Sindhorn Village' in the Back Garden area, a significant landmark in Bangkok. Building on its success, the company is launching a new project, 'Sindhorn Back Garden,' a luxury condominium that aligns with the ongoing leasehold market trend. Following the unexpected success of the 'Sindhorn Tonson' project, which saw sales increase by over 50%, buyers are becoming more open to this option, which is priced 30% lower while offering rental rates comparable to freehold properties.

 

       Mr. Khajorndej Saengsuphan, Executive Director of Siam Sindhorn Co., Ltd., revealed that the growth trend of the long-term leasehold real estate market, particularly in prime urban areas like Rajadamri, Sarasin, Back Garden, and Lumpini, is increasingly popular among buyers looking to live in the city center. This includes both residential buyers and investors seeking prime locations that are easy to rent out and offer high yields. As land in these central areas becomes scarce and expensive, leasehold projects present an attractive alternative.

             Reinforcing its expertise in leasehold properties, Mr. Khajorndej noted that buyers have become more receptive. "The strength of leasehold projects, especially those developed by the landowners themselves, lies in the ongoing maintenance of the buildings. In contrast, if sold outright, the responsibility falls to the condominium juristic person. However, with long-term leases where the landowner is the developer, the care and maintenance from construction to upkeep are managed by the developer, thus enhancing the long-term value of the property. Moreover, the rental prices can match those of freehold land in the same area, requiring less investment while yielding higher returns, making it a noteworthy investment option for city-center condominiums."

             This trend reflects the success of the second project, 'Sindhorn Tonson,' located on a 1.5 rai site, developed into a super-luxury condominium on Sarasin Road, intersecting with Tonson Alley. It features 17 floors with units ranging from 85 to 140 square meters, priced between 19 to 48 million baht, with a total of 59 units and a project value of 1.6 billion baht. Official sales began on February 24-25, and currently, over 50% of the units have been sold, exceeding expectations, with construction set to be completed in May 2018. Similarly, the first project, 'Sindhorn Residence,' launched in 2015, achieved 85% sales within two years.

             "The factors that make the area around Lumpini Park stand out are primarily due to the park itself, which is a large public space and serves as the lungs of Bangkok. This allows condominiums in the vicinity to enjoy park views, along with proximity to amenities and convenient transportation networks. Currently, the area around Lumpini Park is considered a prime area in Bangkok, featuring 5-6 star hotels and various office buildings, as well as numerous super-luxury condominiums. Therefore, freehold land in this area is quite rare and expensive, leading to a continuous rise in property prices, as it is seen as the prime location in the city center."

        Mr. Khajorndej continued that the company is moving forward to build on its success by preparing to launch the 'Sindhorn Back Garden' project under the 'Sindhorn Village' initiative, valued at over 10 billion baht. This project will be located on more than 3 rai of land in the Back Garden area, developed into a luxury condominium on a leasehold basis with a 30-year lease and an option to extend for another 30 years, featuring 33 floors. The design highlights larger units, with sizes ranging from 98 to 480 square meters, and includes spacious, airy designs with ceiling heights of up to 3.0 meters. There will be four types of units, from 1 to 3 bedrooms and penthouses, totaling 225 units, with prices starting at 20 million baht and ample parking for 496 vehicles, along with extensive amenities including a large common area, a lounge for residents on the 30th floor, a saltwater swimming pool, a fully equipped fitness center, lockers, sauna, and steam rooms, with sales set to open in June.

        The Sindhorn Village project is a mixed-use development on 56 rai in the heart of the city, featuring condominiums, serviced apartments, hotels, and a community mall under the concept of 'Living in the Park.' It allocates over 14 rai for a large park to create a pleasant living atmosphere while focusing on enhancing the quality of life for residents, the community, and the surrounding society.

Thank you for the information from    www.sindhornvillage.com