SET-listed property developer Property Perfect Plc (PF) plans 23.4 billion baht worth of new residential projects in the western part of Greater Bangkok.
The developments will benefit from the government’s new transport networks and private-sector retail projects worth 237 billion baht planned for the area.
Wongsakorn Prasitvipat, the company’s deputy chief business development officer, said western Greater Bangkok would experience a dramatic change in the coming years.
“There has not been any dramatic change in this location during the 22 years we’ve been developing housing projects,” he said. “The main driver will be the transport networks.”
It now has six different plots covering a total of 1,170 rai in the Rattanathibet area of Nonthaburi’s Bang Yai district with an estimated development value of 31.8 billion baht covering all housing segments for development in the next four years.
It paid only 4,000 baht a square wah for this land, which is now worth 70,000 baht per sq w.
The company has 11 existing projects worth a combined 18.5 billion baht with units left for sale in this area — eight single house projects and three condominiums.
For the rest of this year and into 2015, Property Perfect plans six new projects worth a combined 9 billion baht — single houses, townhouses and condos for the low- to high-end segments.
By the end of this year, a new road linking Ratchaphruek and Kanchanaphisek roads will be completed. Next year will see Ratchaphruek Road expanded to 10 lanes and the Nonthaburi 1 Bridge completed.
In 2016 the Purple Line will start running, while the Sirat-Western Ring Road Expressway from the planned new Mor Chit terminal to Kanchanaphisek Road will open. A motorway between Bang Yai and Kanchanaburi will support development of Dawei in Myanmar.
PF shares closed yesterday on the SET at 1.42 baht, up four satang, in trade worth 69 million baht.