Thailand property developer Sansiri has started the New Year by announcing a sell-out of its the Base Park West Sukhumvit 77 project.
The Stock Exchange-listed company said that it attributed the success to its ability to offer rental return rates of between 7 percent and 8 percent – which it said had attracted Thai and foreign investor customers.
The company revealed that 83 percent of buyers at the 711-unit project were Thai while the remaining 17 percent were foreign nationals – mostly from Hong Kong, Singapore and Taiwan.
The Base Park West Sukhumvit 77 project is situated in T77 (Town 77) – full name ‘Sansiri Town Sukhumvit 77’ – which is considered one of Sansiri’s mega projects.
This name is not just used as a description of the size of the project, but also means the “dream and determination” of Sansiri to develop the Sukhumvit 77 area to be the hub for living with complete lifestyle.
The company said the project consists of many types of accommodation, now totaling six projects worth THB 8.7 billion and providing 5,000 units.
The area will host Sansiri’s first community mall, Habito, which will support the lifestyle of a high number of residents in the near future. Also planned is the Bangkok Prep – one of the most-recognised international schools.
A spokesperson for the company said: “The year started out well for Sansiri. We managed to close sales for The Base Park West Sukhumvit 77 within the first few days of the year.