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Sansiri condo sold out under 60 days

Army coup, loud mobs, realty slump fail to dent buying

It may not make the Ripley's Believe It Or Not scrapbook, but Sansiri's 460-unit condominium project called Siri At Sukhumvit is all booked out in less than 60 days.

Perhaps nobody told the buyers there had been a military coup or that angry mobs were making noisy scenes. Even the real-estate slump had no effect on them.

The sales were so rapid that even the builder was shocked.

Sansiri senior marketing manager Samatcha Promsiri said he was "very surprised by the response but delighted by the results". The firm bags Bt3 billion from the sale.

Its success goes to prove local consumers are confident of buying, regardless of bad news, if they see something they like and aspire to possess it, says Samatcha.

The project marks the company's return to building condominiums in the Sukhumvit area in May after a two-year lull.

The almost four-rai estate is also the largest condominium project the firm was undertaken, rising 34 floors and scheduled for completion in three years.

The Sansiri brand still carries weight in a market filled with less recognisable names, said the builder.

Even with the high prices - with space starting at Bt85,000 a square metre for the lower floors - there was no shortage of takers.

One-bedroom units start from Bt4.2 million, the freehold apartments being semi-furnished. The company will provide air-conditioners and kitchen sets.

Its two-bedroom units cover 67 square metres, while three-bedroom condos are from 105 square metres.

The block will have a swimming pool, measuring 12 metres by 35.

Siri's location on the main Sukhumvit stretch between Soi Thonglor and Soi Ekamai, with a second exit-entrance at Sukhumvit 38, offers one of the better residential neighbourhoods in this midtown zone.

This quarter is also relatively protected from the tourist zones along Nana and Asoke that are so packed with untidy vendors and beggars that city cleaners have a terrible task of cleaning up the mess every morning.

Another of Siri's advantage is its closeness to the Thonglor BTS station, allowing for easy commuting to the rest of the capital.

Itthi C Tan

The Nation


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