CMC launches high-rise to feed demand on Bangkok’s west side

Bangkok’s listed developer Chaopraya Mahanakorn Group (CMC) has launched its new high-rise development Bangkok Horizon Phetkasem in response to a growing demand for condominiums on the west side of the city.

The group’s chief executive officer Wichian Padhayanun said that prior to the launch the company conducted research on buyer demand in the Phetkasem Road area and found that there was high demand for residential property but limited supply of condos.

“The main factors that contribute to the increased demand are easy access to suburbs and tourist destinations such as Cha Am and Hua Hin. The future extension of mass transportation lines including the BTS green line (Taksin-Bang Wa) and MRT dark blue line (Bang Sue-Tha Phra-Bang Khae) are also the supporting factors that make the area more prominent.”

The new 26-storey development, valued at THB719 million (US$22.3 million), consists of 418 one-and two-bedroom units ranging in size from 30 to 47 square metres. Price starts from THB1.69 million (US$52,500). The project will be ready to move in by the end of 2011.