“Menam Residences” has partnered with Jones Lang to adjust its marketing strategy to cater to luxury clientele, emphasizing comprehensive customer service. Looking ahead 1-2 years, the luxury condominium market along the Chao Phraya River is expected to increase in value, positioning the area as a new landmark in Bangkok, boosting tourism and attracting foreign business investments, with an average price growth rate of over 10% per square meter annually. 

          Mr. Decha Tangsin, CEO of Menam Residences Co., Ltd., the developer of the Menam Residences Serviced Apartments, a luxury condominium in a prime location along the Chao Phraya River, stated that the overall real estate market this year continues to grow in line with the country’s GDP growth rate of 4.5%. This is due to the ongoing and rapid progress of government investment plans, particularly in multiple mass transit rail projects around Bangkok and its suburbs. This will enhance the connectivity between inner Bangkok and the suburbs, especially in the riverside area, which will see the Golden Line (Thonburi-Charoen Nakhon) supporting the growth of several large real estate projects set to launch in the next 1-2 years.

          The growth of the area not only positively impacts the overall real estate business but also specifically benefits the luxury condominium market, particularly those with mixed-use projects (Mix Use) combining hotels and condominiums with five-star standard services. The riverside area is no exception, as the clientele in this market consists of high-income individuals, especially business people and foreigners. Therefore, investing in luxury condominiums along the Chao Phraya River becomes increasingly attractive due to the rising asset values each year.

          “The various projects along the Chao Phraya River currently under construction will be completed in the next 1-2 years, and we will see a clearer picture. These large-scale projects will enhance the potential of the riverside area to become a new landmark in Bangkok, characterized by its beauty and unique signature in terms of the civilization along the Chao Phraya River, which can be experienced through a distinct lifestyle. This factor will attract purchasing power from both domestic and international buyers, significantly boosting the tourism sector,” he added.

          Mr. Decha mentioned that Menam Residences has recently achieved over 90% sales, with 26 units remaining valued at 785 million baht, including six penthouse units. However, the company is confident that the remaining penthouses will be sold by the end of this year, as it has revamped its marketing strategy to focus more on comprehensive customer service and create an exclusive living experience for clients, catering to the demands of this consumer group to expedite their purchasing decisions. Additionally, the company has expanded its market to attract both domestic and international investors, recently appointing Jones Lang LaSalle (Thailand) Co., Ltd. as its marketing and sales management firm.

          Ms. Suphin Meechuchip, Managing Director of Jones Lang LaSalle (Thailand) Co., Ltd. stated that the real estate market this year still has continuous growth opportunities. When considering the condominium segment, particularly luxury and super-luxury condominiums in Bangkok, which total 17,200 units or about 3% of the entire condominium market in the city, it is found that there are 2,600 riverside condominiums, accounting for 15% of the luxury and super-luxury segment. The price per square meter has consistently increased, with data from 2012 showing an 80% increase, and the current average price is 246,000 baht per square meter. Therefore, it is anticipated that the growth rate of the luxury condominium market along the Chao Phraya River in the next 1-2 years could reach as high as 20%.

          Menam Residences is another worthwhile investment project along the Chao Phraya River, especially for high-income individuals, both Thai and foreign business people, who prefer living by the river, which offers beauty, tranquility, and privacy. In addition to its prime location with stunning views of the Chao Phraya River, Menam Residences has designed its buildings to ensure that every unit has a river view, while also providing five-star hotel-level services to its clients. Particularly, the penthouses at Menam Residences are fully furnished and ready for immediate occupancy, with the added advantage of being located on Charoen Krung Road at a very competitive price.

          For the penthouses at Menam Residences, the usable area ranges from 270 to 280 square meters, currently offered at a price of 60 - 80 million baht. For inquiries or to schedule a viewing of the actual units, please call 089 891 9253 or 062 796 0101.

Thank you for the information from www.menamresidences.com