While Central Pattana (CPN) may be known more for its malls than residential projects, the developer does have offerings in the latter segment. And the firm is now looking to target younger real estate buyers with the launch of new housing brand.
Nirati will feature modern tropical houses and amenities focused on the needs of homebuyers in their 20s and 30s. The first development under the new brand, Nirati Donmueang, opened for presales in mid-September with prices starting at THB4.29 million.
The estate will contain 262 units with single houses, twin houses and townhouses available for buyers. CPN officials told local media that Nirati Donmueang will boast environment-friendly features and host a community that showcases the local area. This project will also allow the developer to tap into growing demand for housing in suburban Bangkok which has increased over the past few years.
Related: Bangkok housing demand soars as more buyers look to the suburbs
The Dot Property Group Report: How Has COVID-19 Impacted the Thailand Property Market? found that demand for housing in Bangkok and the surrounding provinces rose by 9.7 percent during the COVID-19 pandemic.
Central Pattana set to open two new malls in 2021
Of course, shopping centers are CPN’s bread and butter and the firm will open two new malls in the coming months. Central Siracha is set to open on October 27 while Central Ayutthaya is expected to welcome visitors for the first time on November 1. The company will have 35 malls in Thailand once the two new projects open.
Mall number 36 is soon to be here as well with CPN planning to open Central Chanthaburi in the second quarter of 2022. The developer’s retail arm continues to look for new opportunities in the country, especially in locations outside of Bangkok where spending power has been on the rise.
Related: Why entrepreneurs looking for opportunity in Thailand should consider Khon Kaen