Day Gain Group, a new property developer, plans to launch two new condo projects worth 1 billion baht each over the next nine months.
The 1-billion-baht Giraffe Duplex Living boasts a new concept of an Amazonian jungle.
Managing director Sombat Saetang said the group, also an importer of Chinese industrial machinery and a vinyl and window manufacturer, will continue condo development with a plan to launch two projects a year as the property business offers a higher profit than the import and manufacturing businesses.
"We will target two market segments. One will be high-rise condos near mass transit stations. Another will be niche condos to differentiate from the market and avoid high competition," he said yesterday.
The niche condo will be Giraffe Duplex Living worth 1 billion baht with a new concept _ duplex units in an Amazonian jungle atmosphere.
It will be located on 11 rai on Nakhon-in Road in Nonthaburi for which it paid 50,000 baht a square wah.
Due to be launched on Oct 5, the project comprises six five-storey buildings with a total of 336 units, all duplexes.
Despite the land having the potential for townhouse and single house development, with unit prices of 4 and 6 million baht, respectively, Day Gain chose to develop a condominium since there are no new ones in that area.
Supachai Chammanowong, an executive vice-president of Century 21 Thailand, a property consultant and this project's sales agent, said the nearest condos were located near the Purple Line's Tiwanon station, five kilometres from the project site. But their unit prices were 70,000 baht a square metre, while that of the project will be 45,000 baht.
Around 10 condo projects have been launched over the past year with a total of 3,000 units.
The sales rate was 50% on average.
In the first half of next year, the group will launch a 20-storey condo project worth 1 billion baht on two rai on Phetkasem Soi 38 near the skytrain extension's Bang Wa station, which will be operating this December.