Locations near Suvarnabhumi airport are expected to become more attractive over the next three years, mainly among import-export and logistics providers, once Asean integration takes place.
Visit Kittiudom, president of the medium-sized developer Rungkit Real Estate Co, said prospects for areas near the airport remain promising despite significant increases in land prices.
Current prices for a large plot on the main road are 6.5 to 7.5 million baht per rai, up from 4 million last year.
Import-export, logistics and insurance businesses are the main buyers of home offices in locations near Suvarnabhumi, with Chinese, South Korean, Japanese and Taiwanese buyers looking for housing units in the locale.
"When the Asean Economic Community is implemented in 2015, these locations will attract greater demand from traders," said Mr Visit.
Rungkit itself stepped into locations near Suvarnabhumi a decade ago, developing 24 housing projects.
The company plans to expand new projects to tap strong demand from import-export business operators.
Mr Visit said the company plans to launch a 110-unit housing project worth 500 million baht in the Ring Road-Rama IX Road area this year and expects 100 million baht in sales by year-end.
Next year, it will launch three projects worth a combined 2 billion baht in Eastern Bangkok.
Rungkit now has four projects with outstanding units worth 820 million baht for sale, which were launched in 2010.
During the first three quarters of this year, it recorded 780 million baht in revenue with a sales backlog of 120 million baht to be realised within the year.
Full-year revenue is expected to come in at 1 billion baht.
About the author
- Writer: Kanana Katharangsiporn
Position: Business Reporter