“SENA Hankyu” owns the popular location next to MRT Orange Line and launches “Niche Mono Ramkhamhaeng” Condominium with a total value of 4,900 million Baht, raising the strength of the large common area over 6.5 Rai, the largest one in Ramkhamhaeng area. Fully spend your active life with a 24-hour Sport village for new generation of healthy lovers. Knight Frank confirms that “Ramkhamhaeng” is a new potential location for expansion from the urban center.

Asst. Prof. Dr. Kessara Thanyalakphak, the Deputy Chief Executive Officer of SENA Development (Public) Company Limited revealed the launch of a new condominium under the joint venture with Hankyu Hanshin Properties Corp, which is considered the 6th project. It was announced clearly that SENA Hankyu was continuing to develop housing projects to cover all locations in order to meet various and different needs of consumers in each location.

Recently, SENA is launching a new condominium with sample rooms, namely, ”Niche Mono Ramkhamhaeng” Project, located on Ramkhamhaeng Road (Between Soi 36 and 36/1) on an area of 14 Rai. It consists of 2 buildings of high-rise condominium with 37 floors and 33 floors and 3 buildings of 7-storey low rise condominium, including one 5-storey car parking building. The total condominium units and stores were 1,698 units and 9 stores, respectively. The total value of this Project is 4,900 million Baht. The building consists of several types of units, including 1 bedroom sized 28 - 31 square meters, 1 bedroom Plus sized 33.5 - 38 square meters, and 2 bedrooms sized 45 - 51 square meters. The interior design responds all lifestyles with a spacious room and fully-furnished furniture to increase the usable area and relaxation. Prices start from 1.99 - 5.2 million Baht or an average of 89,000 Baht per square meter. The outstanding feature of the Project is its location which is situated next to MRT Orange Line (Thailand Cultural Center - Minburi (Suwinthawong)) at Hua Mak station. Importantly, it still applies the concept of MADE FROM HER which pays attention to every detail of life from the concept of women to develop products and services, including the GEO fit + concept from Japan.

Niche Mono Ramkhamhaeng Condominium is based on the concept of design for living spaces where every square meter has been designed perfectly for you to do what you like at the right time and fully spend your active life with a large common area of over 6.5 Rai continuously throughout the Project that is the largest one in the area of Ramkhamhaeng. Plus, 24-hour Sport Village is available with the design under the concept of HEART RATE ZONE FACILITIES together with a variety of activities meeting all lifestyles. Live your Fit & Firm life with 3 swimming pools in 3 styles and increase the space to create new inspiration with Co-Sharing Space. The Project is fully equipped with a security system, 24-hour CCTV, automatic barrier gate system, elevator with access control to each floor, and digital lock doors, etc.

Phanom Kanchanathiamthao, the Managing Director of Knight Frank Chartered (Thailand) Company Limited, said that the Bangkapi-Ramkhamhaeng area is a new potential location with the expansion of residential condominium development projects. There were supporting factors for this area due to the investment in the development of government infrastructure system, which is the development of 3 MRT lines project, including the Orange Line (East), the Cultural Center - Minburi (Suwinthawong), the Yellow Line, Lat Phrao-Samrong, and Ramkhamhaeng area that is still on the Airport Link Railway route at Ramkhamhaeng Station.

These cause people living or working in this area to be able to transport to Suvarnabhumi Airport easily or go to the urban area around Makkasan or Phayathai by Airport Link Railway. Other than the development of government infrastructure systems, the private sector also realizes the potential of Ramkhamhaeng area. The Mall Group has prepared to renovate and upgrade The Mall Ramkhamhaeng 2 to accommodate residents and workers in this area. The Mall Ramkhamhaeng 2 is expected to be completed and opened with the shopping area of approximately 200,000 square meters and the leasing area of 88,000 square meters. It is estimated to be completed in the 4th quarter of 2021. Ramkhamhaeng area in the future is also a business area. Currently, there is the development of the Grade-A office building under the brand of Major Tower, namely, Major Tower Rama 9 – Ramkhamhaeng, with the leasing area of approximately 25,000 square meters. Such Project will be the mixed-use project, consisting of office buildings, retail space, and Metris Rama 9 - Ramkhamhaeng Condominium. This project is developed by Major Development (Public) Company Limited. It is accessible by a personal car conveniently, either inbound or outbound, with the connection to many main routes, such as Rama 9 - Ramkhamhaeng Road to Ekkamai Thonglor. BTS, MRT and expressway are available. In addition, it is located near Motorway, Chalongrat Expressway, and Si Rat Expressway. This area is also the location of many leading hospitals and is surrounded by high schools and higher education institutions.

According to the research of Knight Frank Thailand, the number of condominium supply in Ramkhamhaeng area in the mid-year 2019 was 14,750 units. New supply of condominiums in this area had increased since 2017 as the cabinet approved the construction of MRT Orange Line Project, Thailand Cultural Center – Minburi, on April 19, 2016. As a result, entrepreneurs purchased lands to develop condominium projects and launched more projects from 2017 to 2019. New supply of condominiums was launched up to 3,658 units. In 2018, new supply was launched up to 2,661 units. In the first half of the year 2019, there were approximately 2,236 units newly open for sale. It is expected that in 2019 there will be new condominiums for sale in this area up to 6,000 units. In the mid-year of 2019, condominiums in Ramkhamhaeng area had a cumulative sales unit of 12,370 units out of 14,750 condominium units, accounting for the sales rate of 83.9%. There were approximately 2,380 units available for sale. Number of condominium units sold during the past 2- 3 years reached 2,500 units per year. Since this area is a potential location, there is the increasing number of persons, Thais and foreigners, interested in buying condominiums in this area. Foreigners interested in purchasing condominiums in this area are Chinese and Singaporean because the prices of condominiums in Ramkhamhaeng area are still affordable when compared to condominiums on Ratchadaphisek Road, which have the selling price of 150,000 Baht per square meter. If the construction of MRT Orange Line is completed, the transportation from Ramkhamhaeng to Ratchadaphisek will be more convenient by traveling from Ramkhamhaeng area to the Thailand Cultural Center Station, which is located on Ratchadapisek Road.

In addition, Thai buyers also purchase condominiums for their own residence. Some purchase and keep it as an asset. It is expected that prices of condominiums in Ramkhamhaeng area may increase in the future. Once the MRT system under construction is completed, the price of condominiums in this area will greatly increase.
Regarding the selling price of condominiums in Ramkhamhaeng area, it was found that the price of condominiums in this area had continuously increased in the mid-year of 2019. The average selling price of Grade B condominiums is 98,323 Baht per square meter, increased from the year 2014 which has an average price of 74,292 Baht per square meter. The Compound Annual Growth Rate (CAGR) of condominiums from 2014 to the mid-year of 2019 for a period of 5 years was at 7.2% per year. The average selling price of Grade B condominiums reached the highest selling price in 2017, increasing by 10.5% from the year 2016. As for the average selling price of Grade C condominiums in Ramkhamhaeng area in the mid-year of 2019, the average selling price was 63,705 Baht per square meter, increased from the year 2014 which had an average price of 53,402 Baht per square meter. The Compound Annual Growth Rate (CAGR) of condominiums from 2014 to the mid-year of 2019 for a period of 5 years was at 4.3% per year.