The first 20 buyers to book units today at Issara Ladprao will obtain special deals such as a 10-per-cent discount off condominium prices as well as gifts that include mobile phones.
The launch begins at 10am today at the actual building site on the almost five-rai estate on the main Lat Phrao Road between sois 12 and 14.
For developer Songkran Issara, the project is the largest undertaken by his company Charn Issara Development and its subsidiary CIN Estate, which owns the project.
The 50-storey condominium will be the largest structure in this northeastern Bangkok suburb, where Songkran sees little competition.
"Supply is scarce here as most of the speculation has been on Sukhumvit and Sathorn, where supply has been building up over the past five years," he said.
Songkran, who is one of the country's more established real-estate figures, says buyers of the new project can be assured he can deliver the goods, unlike some outfits that make promises that they probably will have difficulty in keeping.
The prices at Issara Ladprao are not cheap. "That's because we provide high standards, both in materials and design," said the developer. "This means the resale and rental value of our units is much higher than the cheap ones being offloaded to feed the lower segment."
"Even our studios are slightly bigger at about 34 square metres," he added. "The starting price of these units is Bt2.42 million."
A two-bedroom condo of 79 square metres will sell for about Bt5.9 million.
"We are targeting the upper middle end," he said. "The facilities are much more grand than most of the new projects recently launched."
The common grounds include a big garden filled with trees. "Some of the larger trees are already on he estate, but we will plant many more to give the place a park-like atmosphere."
A large fitness room with high ceilings will be located on the fourth floor. Songkran says the gym will be professionally managed.
The swimming pool and sun deck will be on the sixth floor. Below the pool area are five floors of parking, which will serve 70 per cent of the residences.
"Some buyers may opt not to own cars as the mass-transit system here is well served," he said. "The site sits between two MRT subway stations at Phahon Yotin and Lat Phrao.
To boost the project, Songkran has enlisted the rock band Thaitanium to provide its theme music and song.
Issara means free in Thai, he added. The logo "I am Issara" translates as "I am free". To be more exact: free of the awful traffic, the heavy pollution of the inner city, and the chaotic and stressful crowds that pack tourist zones.
Lat Phrao is one of the most pleasant suburbs in Bangkok because it remains untouched by the avarice of overpriced hotels, restaurants, shops and entertainment outlets.
Itthi C Tan