The Nest Property, a residential developer owned by the Mahagitsiri family, is continuing its joint ventures in high-priced low-rise houses with Japanese real estate firm Kanden Realty & Development due to strong demand.
Ausana Mahagitsiri, chief executive of The Nest Property, said the company and its Japanese partner plan to launch three new single detached house projects worth a combined 5.1 billion baht in the second half.
"Our partner and the company remain confident in the demand within the luxury segment," she said. "We will select prime locations with high potential and strong demand to launch the new projects."
In the fourth quarter of 2024, the two firms will launch two new projects comprising Aerie Srinakarin-Suanluang worth 1.1 billion baht and Avian Bang Na KM 5 worth 1.2 billion baht.
In 2025, The Nest and Kanden plan to diversify their portfolio by launching new projects in other segments, including townhouses and condos, to attract new target buyers.
Last weekend they launched Avian Srinakarin-Krungthepkreetha, worth 2.8 billion baht.
This project is located on a 42-rai site on Srinakarin-Rom Klao Road. The first phase comprises 40 two-storey single detached houses priced from 15 million baht.
It also marks the second joint venture between The Nest and Kanden. The first project, Aerie Srinakarin-Krungthepkreetha, worth 2.5 billion baht, was launched two years ago, said Ms Ausana.
Situated on a 29-rai plot opposite the new development, it comprises 115 three-storey single detached houses priced from 17-40 million baht.
Withoon Lertpanomwan, chief executive of wealth management and business consulting firm IFCG Plc, said Krungthep Kreetha has become a key location for high-priced single detached houses in recent years.
"The average price of single detached houses was 27 million baht per unit, with most being large in size due to demand from medium- to large-sized families," he said.
Land prices in this area also soared 150% over the past decade to 30-40 million baht per rai, driven by the newly cut Srinakarin-Rom Klao Road, said Mr Withioon.