Developer Frasers Property (Thailand) Plc (FPT) plans to launch a branded residential project on Lang Suan Road and housing units in an industrial estate in Bang Na over the next few years, driven by strong demand in the luxury and industrial sectors.
Somboon Wasinchutchawal, chief financial officer and acting chief executive of the residential business, said the Lang Suan project, with a sales value of 8 billion baht, is situated on a plot where land prices cost around 2 million baht per square wah.
"This will be our first luxury condo development," he said. "A team from One Bangkok will help oversee the project, which is undergoing the environmental impact assessment approval process and is expected to launch in 2026."
One Bangkok is a mixed-use development spanning more than 100 rai on Wireless and Rama IV roads, developed by Frasers Property Ltd, which shares the same shareholders as FPT. The project includes leasehold branded residences.
The Lang Suan plot, previously home to the Mayfair Marriott Executive Apartment, was acquired in 2021 when FPT purchased the remaining 46-year leasehold rights from GOLD Property Fund at a cost of 1.74 billion baht. The building was demolished.
Unit prices will range from 400,000 to 500,000 baht per sq metre, targeting luxury buyers and strong foreign demand, said Mr Somboon.
Residential demand in the industrial estates remains high despite the overall market slowdown, especially in the mid- to lower-end segment, where purchasing power is weaker.
FPT plans to develop single detached houses and twin houses priced between 5-8 million baht and townhouses priced between 2-3 million baht in Araya – The Eastern Gateway, situated on Bang Na-Trat KM 30 Road.
Araya will be an industrial-led, large-scale mixed-use development spanning over 4,600 rai, a joint venture between FPT (50%), Rojana Industrial Park Plc (25%), and Asia Industrial Estate Co (25%).
The first phase will cover 2,000 rai and take 3-5 years to develop. The residential area, spanning 200–250 rai at the rear, will have a combined sales value of 10 billion baht.
This year, FPT will also launch five new low-rise housing projects and one condo project worth a combined 9.8 billion baht in Bangkok, Nakhon Ratchasima, and Khon Kaen.
The company targets 11.2 billion baht in revenue, an increase from 9.17 billion baht last year, which declined by 17% from 2023.
"Despite a financial cost of just 3%, we will launch the same number of projects as last year to maintain our debt repayment capacity," Mr Somboon said. "The overall residential market is expected to improve within the next two years."