CPN sets aside B3bn for 6 projects
SET-listed retail and property developer Central Pattana (CPN) plans to spend 3 billion baht to develop six property projects next year.
Kree Dejchai, executive vice-president for residential business at CPN, said the company wants to develop four condominiums and two residential projects next year, creating combined 2,000 units.
It expects to complete the new development within the next two years. The investment of three billion baht excludes land price.
CPN, which has expanded into the property business over the past three years, has developed 19 projects in 14 provinces. The six new property projects planned for next year include Escent Ville Ayutthaya, which will be built behind Central Ayutthaya officially opened in December this year.
Escent Ville Ayutthaya is the 20th development project of CPN. Escent is its leading brand to spearhead the move to tap into provincial real estate markets.
"Now, we have sold more than 90% of units of 12 projects in eight provinces. We consider it a key strategy to develop premium residential projects along with mixed-use projects and malls, which will help upgrade the provinces," said Flight Lieutenant Kree.
Escent Ville Ayutthaya has been open for sales since Nov 30. It aims to capture a new segment of customers, 80% of which being "Ayutthaya elites" and the other 20% being foreigners, especially Japanese.
Escent Ville Ayutthaya is the tallest high-rise condo in Ayutthaya with 14 levels and 396 units, starting from one-bedroom units of 28-32 square meters with a starting price of 1.9 million baht, two-bedroom units of 55 sq m with a starting price of 3.7 million baht and fully furnished rooms of 7.7 metres wide and 2.5m tall designed to receive natural light and provide a great view.
There are 12 luxury two-bedroom units equipped with bathtubs, catering to the tastes of Japanese and Thai customers. It is the one and only condominium in Ayutthaya with complete rooftop facilities, including a large semi-Olympic saline pool.
It also has an outdoor co-working space and relaxing area for young generations who prefer to work from anywhere. The co-working space is part of an outdoor green area that is suitable for various recreational activities.
Nattakit Tangpoonsinthana, executive vice-president for marketing at CPN, said the company opened Central Ayutthaya, a mixed-use development project worth 6.2 billion baht, on Nov 30 under the theme "Capital of Wonders" to help the tourism sector rebound and push Thailand as a "preferred global destination".
"We look to use the network of Central shopping centres across the country as a "tourism booster" to attract quality tourists and encourage longer stay and more spending, which will help distribute income to local communities and create urban communities," he said.