Venture Global Holding, a joint venture between Singapore-based ABN and a Thai veteran property company, has captured the rising investment opportunity in Bang Saen, Chonburi province, and Eastern Economic Corridor (EEC) through the launch of its first property project, The Centro Condo Bangsaen, the 550-million-baht low-rise condominium comprising 304 units located near Laem Thong Department Store and Burapha University.
Mr. Austin Tan, Chief Project Officer of Venture Global Holding Co., Ltd., commented that throughout the past four decades, Thai economy had been growing fast and steadily. The country is a development success story backed by the government continuous policy and support in infrastructure development. This has provided the country with strong future development growth potential.
“A major shareholder of Venture Global Holding is ABN, one of Singapore’s largest property development companies. Seeing strong investment potential outside Singapore, especially in Thailand’s tourist destinations and big cities, ABN is convinced of successful investment in Thailand’s property market. That’s when Venture Global Holding was established. Our project, The Centro Condo Bangsaen, is our first investment initiative in Thailand and will lead to many more exciting projects in the future. We have made investment in Thailand as we wanted to see healthy economic growth both in Thailand and Singapore,” said Mr. Tan.
Mr. Ray Heng, Chief Finance Officer, Venture Global Holding, expressed strong confidence in Bang Saen investment potential.Given the city’s proximity to Bangkok and Pattaya and its location in EEC which is expected to attract over 45 billion US dollar investment, the beach town offers enormous investment potential and huge employment opportunity, thanks to its beautiful beaches, great infrastructure and facilities, relatively low cost of living compared to Pattaya and Bangkok, and home to a leading university and offers huge employment opportunity. In addition, the city is ideal for residential projects developed to support future economic growth.
Heng added, “The government’s huge investment in transport and logistics projects will make it very convenient to travel between Bangkok and Chonburi, especially by high-speed train. Seeing the window of opportunity open wide, we were not hesitated to make investment here, starting with our first project in Bang Saen.”
Pheerapol Rangsimanurak, Chief Executive Officer, said that the government’s commitment to making EEC a new economic hub in the region has increased Bang Saen’s investment and economic development growth potential. Bang Saen will not only be a tourist destination but also a new economic hub in the country. Bang Saen has strong potential in all areas, from education to business.Within 2024, the high-speed train linking three airports will be open for services, which will boost Thai investment and tourism.Burapha University, which is the No. 1 university in the eastern region, also added greater potential to the region as it has seen more and more international enrolling, especially those from China.
The company’s study showed that Bang Saen’s property market has strong potential. Land price has continued to rise by 30%-50% in the past few years. On demand side, there is high demand for good residential units. More people are moving into the area but the supply has remained unchanged, resulting in increasing gap between demand and supply. See this trend, the company decided to develop The Centro Condo Bangsaen to capture the opportunity presented. The Centro Condo Bangsaen is designed to directly address local residents’ lifestyle and needs. Since its location is very close to the city center and the university, the project is proven ideal for investment and rentals. Return on investment is approximately 5%-8%.
Pheerapol said, “The Centro Condo Bangsaen is one of the new condominium projects developed in the 2-3-year-time. Our management team has vast experience in the local property market. With financial support from our Singaporean partner, we are financially healthy and have full capability to meet specific needs of locals and investors in Bang Saen. With all these advantages, we have full confidence in the success of the Centro Condo Bangsaen.”
Jakkaphan Bamphenkiatkul, Chief Operating Officer, explained more on the design concept. Built on the modern nature living concept, the project combines modern design with the nature. The two 8-story buildings, covering 2 rai 82.4 square wa area and comprising 304 units, was designed to offer excellences in five areas. Firstly, it is strategically located in the city center, next to Park In Market, is located only 200 meters away from Laem Thong Department Store, 400 meters from Burapha University, and 1.5 k.m.from Bang Saen Beach. Secondly, it provides more common area for all project customers. The overflow swimming pool is well designed to allow residents to also enjoy the great view while swimming. The fitness center also provides a clear view of the green garden and the swimming pool. The garden is well designed to allow residents to stay while the common area can be used for co-working space. Thirdly, the project boasts design excellence that is cater to nitty gritty details and is based on energy saving and heat prevention. Fourthly, it offers safety excellence. Based on the Triple Security concept, residents will feel assured of tight security at the front security booth, building entrance and unit entrance where digital door lock system is installed. The fifth excellence element is value for money as all units are fully furnished. With all these five elements, The Centro Condo stands out from the crowd as the project of excellence.
On pricing, the price starts from 1.49 million baht for a 28-square-meter unit or approximately 50,000 baht per square meter. The company will organize pre-sale of 99 units for VIPs from 23-19 January 2020 at Central Chonburi Department Store. For moreinformation about The Centro Condo Bangsaen, click www.thecentrocondo.com
