Ari-Phaholyothin, new contemporary district for urban life

Real Estate Press Releases Monday October 29, 2018 15:26
Bangkok--29 Oct--Agate Communications

A Bangkok's legend of Ari-Phaholyothin is being transformed into the newest center for the mixed-use of office spaces and residences of the people who seek for urban living. Along the 2-kilometer section from Ari station to Saphan Khwai station, in particular, the rising of governmental premises, office buildings and mixed-use developments is frequently seen, surrounding with abundant facilities for all of lifestyle, namely, community mall and department stores, eateries, coffee shops and hospitals. Easy to access by walk or sky train with short time traveling in or out bound, it becomes the desired location for everyone to move in, while rare of the original residents decided to move out.

Mrs.Nalinrat Chareonsuphong. Managing Director of Nexus Property Marketing, the real estate consultant, said Ari-Phaholyothin area is the remarkably potential location which could be named as "The new district for office spaces". It's not only situated by the prominent public and private office buildings such as EXIM Bank, headquarter of the Government Savings Bank, NBTC, Kasikorn Bank head office, and AIS Tower, but also located by the 3 brand-new A-grade office buildings which are 1. Pearl Bangkok, the 25-storey new Bangkok landmark 2. Ari Hill, the 34-storey mixed-use center compose of office spaces, retails and accommodations 3. SC Tower, a 24-storey building. It's expected to have 3,733 persons, 1,500 persons and 817 persons working in these 3 buildings respectively or 6,050 people in total.

Moreover, she said, there are the under-construction projects which scheduled to be completed in the next few years, namely 1.The Rice, the 2-billion-baht 24-storey mixed-use developments 2. Pruksa's Vimutti Hospital, a 5-billion-baht healthcare project expected to be on service in 2020 as same as The Rice. 3 Vanich Place by Laemthong Corporation, 31-storey office building and community mall scheduled to be done in 2021.

"The continual rising of high-end skyscrapers underlines the fact that this area remains the one of Bangkok's CBD. Blending with the charming contemporary lifestyle, it beckons the new generations to move in" said the veteran real estate consultant.

With its outstanding strength in the ongoing developments of office buildings and high-end skyscrapers, easy to commute location, it creates an opportunity to become the new city residential center with the growth of demands, supplies and prices. Since 2013, there have been more and more opening of new condominium projects, high rise and low rise. Among 16 projects, there were 3,318 units sold, out of 4,103 units or about 81 percent, added Mrs.Nalinrat.

The projects which newly launched in the past 1-2 years mainly had sale rate over 70 percent. The Hi End condo (110,000 – 190,000 baht/sqm) holds the biggest market share of 74 percent or 2,544 units of both high rise and low rise condos. The best seller of this cluster is the project with the selling price of 110,000 – 120,000 baht/sqm, mostly locate in Inthamara neighborhood, while there is none of project with this selling price developed in Ari- Phaholyothin. Therefore, this area leaves a potential marketing opportunity for the property industry.

"The market demands in low rise condo in this zone are continually seen, as the price for residence that located in the heart of Bangkok, near the sky train stationsounds reasonable and affordable. Meanwhile the selling price of the high rise condo is more expensive due to the price of the land plot and its availability. Additionally, the advantage of low rise one is the less units in each project which could bring a vibe of privacy that what exactly meet the demand of the modern urban life" said the executive of Nexus Property Marketing.

She added that in the speedy world, one of the most important matter is to have a home in town in a bid to reduce the traveling hours and gain more leisure time in style. To live in Ari- Phaholyothin could bring you to such goal.

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