Supalai project aims for active seniors
SET-listed developer Supalai Plc has launched a senior-friendly housing project in Kaeng Khoi district, Saraburi with 144 leasehold units priced from 1.3 million baht to tap active elderly people.
Chairman Prateep Tangmatitham said it's the company's first project for the elderly as their numbers continue to rise in Thailand, eventually to account for 20% of the population.
"Senior-living projects should be in locations surrounded by nature for true relaxation," he said. "Units should have a universal design to facilitate the elderly, such as sliding doors, emergency buttons in bathrooms and no steps."
The project, Supalai Wellness Valley, is located on a 24.5-rai plot close to Supalai Pasak Resort Hotel & Spa, which is on 160 rai in Kaeng Khoi, Saraburi.
The project has two phases with a total of 144 single-storey townhouse-style units. Each unit will have a universal design with a usable area of 55 square metres for one bedroom, one bathroom and one living room and a dining room.
The first phase with 65 units is completed and ready for transfers by March 2020. The units will be sold as long-term leasehold ownership with prices of 1.3 million baht for one person per unit and 1.5 million for two people. Buyers must be 50 or older.
In the project, a service centre with medical staff is available to take care of residents. There are health-oriented and agricultural activities, cooking classes, arts, snooker and karaoke.
"All residents will get a GPS wristband to track them 24/7 and send alerts to the service centre when they fall," said Mr Prateep, 71.
Each unit requires payment of 24,000 baht a year as a common expense and 3,000 baht a year for maintenance services covering electricity, air conditioning and water.
Buyers can return the unit and get a refund. If they return within 20 years after the purchase, they will get 50% of the unit price as a refund. Those returning after 20 years will get 25% of the unit price.
"We applied the business model from Savangkanives, a senior-living project by the Thai Red Cross in Samut Prakan," Mr Prateep said. "If our project in Saraburi is successful, we will expand to Bangkok."
SPALI shares closed Friday at 17.50 baht, up 10 satang, in trade worth 152 million baht.