Frasers Property Home, the residential arm of Frasers Property, recently announced its plans for 2023 which include the launch of 11 new projects. The firm believes Thailand’s property sector is continuing to recover and that is why it intends to roll out a low-rise condominium this year in addition to luxury detached housing and townhomes.
“The business plan in 2023 include the launch 11 new projects worth more than THB17.5 billion. These consist of seven single-detached house projects, two townhome projects, one twin-house project and a condominium project,” Khun Sanphin Sukhee, Chief Executive Officer of Frasers Property Home (Thailand), detailed. “The tourism sector will be a key driver driving the Thai economy which is expected to expand at 3-3.5 percent. Increased investment in infrastructure, especially in major cities, will further support the return of tourism. This, along with foreign investors gradually returning, will result in the Thai real estate sector becoming active again.”
While the focus on housing comes as no surprise, Frasers Property Home jumping into the condo market for the first time may raise a few eyebrows considering many firms are scaling back launches here. The developer revealed that the project will be low-rise and located in Bangkok near a BTS station.
According to Khun Sanphin, Frasers Property Home wants to enter the low-rise condo market as it sees opportunities have arisen in the aftermath of COVID-19. In particular, the low-rise sector at the THB3-5 million range doesn’t have enough existing supply to meet demand.
The homebuilder will also expand its portfolio of luxury and super luxury detached housing projects this year. Frasers Property Home is going to focus on homes in the THB60-120 million price range under its The Royal Residence brand. The developer plans to launch a new high-end brand, Alpina, in 2023 as well.
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