LPN Analyzes the Rangsit Area and Finds Strong Demand Still Exists but faces challenges with high household debt and low income. They are providing more options for residents through the strategy “Lumpini Living Plus Rangsit-Klong 1” to generate new income from rentals. A dedicated team has been set up to manage the rental operations of Lumpini Township Rangsit-Klong 1 (Zone F) with over 3,000 units targeting students, working professionals in the Rangsit area, and rental investors, aiming for rental income exceeding 30 million baht by the end of the year, while gradually selling units with plans to close sales by the end of this year. They believe this new strategy will invigorate demand in Rangsit.

          Mr. Surawut Sukjareonsin, Senior Executive Officer of Strategy and Business Planning at L.P.N. Development Public Company Limited (LPN) discussed the strategic adjustments to create sustainable income from recurring revenue by increasing housing options. They are using “Lumpini Living Plus Rangsit-Klong 1” as a leading strategy in the rental market in Rangsit to boost the proportion of recurring income, catering to customers who want a home but are not ready to buy. The focus is on students and working professionals in Rangsit, as well as rental investors.

          “After LPN developed Lumpini CondoTownship Rangsit-Klong 1, there was significant interest from customers due to the location and reasonable prices. However, many customers faced issues with loan rejections from financial institutions after deciding to book their units. Despite the overall economic conditions improving, low-income earners are still pressured by high household debt. Therefore, the company adjusted its strategy by decorating units in Zone F and shifting from sales to rentals under the name “Lumpini Living Plus Rangsit-Klong 1”, with a rental rate of 6,000 baht per month for a one-year lease. The company has provided various amenities to enhance the quality of life for tenants, such as Blue Mart, a smart vending machine that allows convenient payments via an app 24/7, Wash Coin, an online washing machine with automatic notifications when laundry is done, bicycle rental services for use within the project, and free shuttle services to Future Park Rangsit. To date, the company has rented out “Lumpini Living Plus Rangsit-Klong 1” at a rate of 90% from the two buildings available for rent. By the end of 2018, the company aims to generate rental income from 8 buildings with 1,500 units and believes this strategy will meet the demand for quality housing and create significant demand, as most customers seek quality homes. Alongside this rental income strategy, the company continues to gradually sell the remaining units, expecting to complete all sales and transfers within this year. Additionally, the company has linked this new strategy with the LPN Scholarship, providing housing scholarships in Lumpini Township Rangsit-Klong 1 (Building C2) to Rajamangala University of Technology Thanyaburi by redesigning some units in a roommate style suitable for student lifestyles, all aimed at creating movement and vibrancy within the project.”

          The Lumpini Township Rangsit-Klong 1 is situated on an 87-rai area, consisting of 50 eight-story buildings with a total of 10,000 units sized between 21.50 to 26 square meters, divided into 3 phases. Currently, about 70% of the construction is completed and ready for occupancy, with the remaining sections expected to be ready within this year, fully equipped with various amenities and a large community mall in front of the project. Every Thursday to Sunday from 4 PM to 10 PM, the project hosts an Art Market, a shopping venue for food and household items, catering to residents of the condo and surrounding areas, making it a more complete “livable urban community”.

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Thanks for the information from www.lpn.co.th