“Narai Property” is concluding Q4 by launching the “The Parkland Charan-Pinklao” project, shaking up the condominium market in the Thonburi area. This project boasts top-notch facilities and a large garden spanning over 3 rai. The new building, Tower A, is now available for sale, located right in front of the Blue Line MRT station at Bang Yi Khan. Promotional room prices start at 1.99 million baht. The “Big Day” event will take place on November 4, where interested buyers can register to receive a 10,000 baht Gift Voucher.

Mr. Jentchai Limwattanakoon, Managing Director of Narai Property Co., Ltd., revealed the company's plans for the final quarter of 2018, stating that they will open reservations for the residential condominium project The Parkland Charan-Pinklao Tower A, which consists of a total of 542 units, with promotional room prices starting at 1.99 million baht. This building is located at the front of the project, adjacent to Charan Sanit Wong Road, right in front of the Blue Line MRT station at Bang Yi Khan, near the Pinklao intersection. The project is based on the concept of “Sustainable Living”, promoting a quality lifestyle that is both good and sustainably happy. The official sales launch, dubbed “Big Day”, is set for Sunday, November 4, and interested parties can register in advance starting today to receive a 10,000 baht Gift Voucher when signing a purchase agreement within the specified period.

          The Parkland Charan-Pinklao project  covers an area of over 11 rai, located on Charan Sanit Wong Road, Soi 42, which is a main road for residents in the area. It is adjacent to the Blue Line MRT station at Bang Yi Khan (expected to be operational in 2020). The project is valued at approximately 6 billion baht and consists of a 22-story building with a total of 1,784 units, offering 1 and 2-bedroom layouts with usable areas ranging from 24 to 75 square meters. The project features a variety of room types to meet diverse customer needs, complete with the most comprehensive facilities, including a large saltwater swimming pool larger than half an Olympic size and three floors of sports facilities, including Yoga Fly, lounge, Boxing Corner, Fitness, separate male and female sauna rooms, and a Double Sky Lounge featuring a social club, mini-theater room, golf simulator room, co-working space, meeting room, lounge, and a rooftop garden with 360-degree views of the Rama VIII Bridge and the beautiful Rattanakosin Island. Additionally, there is a large central garden spanning over 3 rai and parking for 925 vehicles. The project offers convenient transportation options via both the MRT and private cars, as it is close to the Si Rat Expressway entrance and exit, as well as major shopping centers, hospitals, and universities, such as Central Pinklao Department Store, Major Pinklao Cinema, Siriraj Hospital, and Thammasat University. The project is scheduled for completion in April 2019.

          “Currently, finding a large plot of land over 10 rai in the city and near an MRT station is becoming increasingly difficult. However, due to the large area and scale of this project, it stands out and is comprehensive in all aspects, including location, product, and facilities, as well as common areas that we are confident provide more than what is typically offered. So far, we have achieved approximately 86% sales from the two buildings previously launched. Currently, the company has four projects under development along the Blue Line MRT, which include The Parkland Bangkae, The Parkland Phetkasem-Thapra, The Parkland Charan-Pinklao, and The Parkland Phetkasem 56,” Mr. Jentchai added.

          Mr. Jentchai further stated that regarding the overall real estate market, compared to 4-5 years ago, it is evident that domestic purchasing power has decreased, especially for investment purposes. Therefore, operators should adjust their operational plans to adapt to the new normal, which requires planning to adjust growth rates, sales rates, and capital turnover rates to align with the actual market conditions. As for the strict housing loan measures currently being considered by the Bank of Thailand, I personally believe they should have been implemented much earlier to slow down the rapid price increases in real estate that exceed consumer purchasing power, benefiting both consumers and operators in the long run. However, the delayed and overly stringent enforcement of these measures may impact real demand more than it slows down investment demand, which has already decreased. Measures should seek a balance between positive and negative impacts. The strategies that operators should adopt in this situation are that the product must be genuinely good, the location must be right, and the price must be reasonable. These factors will best protect against potential risks in the future. Projects that meet these criteria will continue to sell well.

          Narai Property has six projects currently for sale, divided into two horizontal projects: The Flora Tiwanon and Park Priva on Tiang Ruam Mit Road, and four condominium projects: The Parkland Phetkasem-Thapra, The Parkland Rayong, The Parkland Phetkasem 56, and The Parkland Charan-Pinklao.

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