SC Asset Corporation Plc, the SET-listed developer owned by the Shinawatra family, will introduce a new condominium project in Bangkok's Huai Khwang district.
An artist’s conception of Centric Ratchada-Huai Khwang by the Shinawatra family’s SC Asset Corporation. The condo project’s 674 units, sized 26-88 square metres and priced from 3.09 million baht apiece, will be targeted at wealthy Beijing residents, as the project will be located near the Chinese embassy.
Wealthy Chinese buyers will be targeted in Beijing in August, with sales of 400 million baht expected.
Chief operating officer Kree Dejchai said Chinese buyers are keen on condos in Bangkok, and Ratchadaphisek Road is the most popular location because the Chinese embassy is on the road.
The Centric Ratchada-Huai Khwang will have 674 units sized 26-88 square metres and priced from 3.09 million baht apiece.
The 2.6-billion-baht project with more than 20 storeys will be located on a 3.2-rai site 120 metres from Huai Khwang subway station, just one stop from the Chinese embassy.
"We'll keep some top floors of the project for the roadshow in China, as Chinese buyers usually buy units close to their acquaintances. We will also combine some units, as they prefer unit sizes of 50-60 sq m," said Mr Kree.
The property agent for the Beijing roadshow will be the Singaporean property consultant Square Foot, which took SC's condo projects to Singapore and Hong Kong last year, where they recorded 700 million baht in sales.
"The roadshow will be in Beijing as really wealthy Chinese live there, while Shanghai is where people relocate to work," said Mr Kree.
From June 20-23 in Siam Paragon, SC will launch the Huai Khwang project and two other condos - Centric Sea Pattaya and Centric Ari Station, worth 2.8 billion and 2.4 billion baht, respectively.
The Pattaya project will be located on six rai on Pattaya Sai 2 Road, which SC bought for 244 million baht last month from Rende Development Co, a property firm owned by Thaksin Shinawatra's eldest daughter Pinthongta, who plans to develop a hotel nearby.
Mr Kree said many Russian property agencies are interested in buying entire floors of the Pattaya project for resale to their compatriots, as Russian buyers prefer staying together.
However, the company expects the project will sell out to Thai buyers.
SC targets sales of 2 billion baht from the three projects worth a combined 7.8 billion baht during the four-day event.
Shares of SC closed yesterday on the SET at 5.10 baht, up 14 satang, in trade worth 42.6 million baht.
