Knight Frank Thailand Reveals that the Bangna Condo Market has the Potential to Expand into Another Prime Location in the Market’s Upper Tier in the Future

Mr. Phanom Kanjanathiemthao, Managing Director, Knight Frank Thailand Co., Ltd., said that Bangna-Trad is an area where the development of residential condominiums has the potential to grow and expand well. It is a location that meets the needs of working professionals in Bangna, Bang Plee, Bang Bo, and Chonburi. There are many private and public developments taking place, which will increase the potential and value of assets in the future, including:

1. Bangkok Mall is a huge commercial development area and a large, regional style shopping mall. The total area of the project is about 100 rai, with an investment value of 20 billion baht. The total area is 650,000 square meters. The project encompasses a shopping centre, cinema, product exhibition centre, amusement park, water park, condominium, residential building for rent or as a serviced apartment, and office building for rent. Construction is scheduled for the second half of this year and it is slated to be operational in the next five years. Once open, Bangkok Mall will be the largest shopping centre in Thailand and Southeast Asia. In addition, there is an Eastern Bus Terminal, occupying over 7 rai, located in the same area as the shopping centre. The entire Ekamai Transit Station will be moved here, servicing customers who are travelling to the Eastern Region.

2. Mega City Bangna is raising its stature with a Mixed-use Development – Phrase 2 project, boasting a total investment of over 67 billion baht. Adding to Mega Bangna, the second phase consists of shopping centres, office buildings, two hotels, and residential condominiums with green spaces and public parks on a total area of 400 rai.

3. THE FORESTIAS is a mixed-use lifestyle property project on more than 300 rai of land. The project value is over 90 billion baht. The total area of construction is over 600,000 sqm, divided into a commercial area of 1.8 sqm. The latter consists of a community mall, 6-star Medical Complex for rent, 6-star boutique hotel, 4-star hotel, learning centre, kindergarten, and future of innovation building. Construction started in 2018, with completion by 2022.

4. Bangna – Suvarnabhumi Train Line is part of the MRT Master Plan Phase 2 or M-MAP 2, which is currently undergoing an appropriateness evaluation process and the seeking of private investment partners for the project as a joint venture. The Bangna – Suvarnabhumi line is a light rail train that connects the Green Line. (Sukhumvit Line) at Bangna Station; it will run along Bangna-Trad Road for around 18.3 kms. With 14 stations, it is expected to accommodate about 40,000 passengers per day from Bangna station to South Suvarnabhumi station. Sri Iam station will serve as an interchange station connected to the Yellow Line of Ladprao-Samrong (Srinakarin Road). Additionally, Thana City station will house a parking and maintenance facility on 29 rai of land.

5. Bangna – Trad km 19-23 is expected to become an important Logistics Hub, housing the distribution centres of many large companies. The total warehouse area is about 1.2 million square meters. It also contains a large number of industrial plants, making it a major employment source of Samutprakarn province. Location-wise, it has the potential to be linked to the production centres of the Eastern Seaboard, which is currently expanding into the Eastern Special Economic Zone (EEC). The latter is a high potential area that is home to a variety of industries, such as automotive, consumer goods, health and beauty, electronics, and retail and wholesale businesses. In addition, in the future, the Bangna-Trad area at Km. 32.5 will feature a full-scale industrial estate project on an area of 4,300 rai.

6. Bangna encompasses a large residential area. It is the location of residential communities and projects. Many detached housing and townhouse developments enjoy relatively high prices, such as Lakeside Villa, Krisada Nakorn, Nuntawan, Baan Issara, Blue Lagoon, Baan Klang Muang, etc. Bangna-Trad itself is a road linking Sukhumvit and Srinakarin roads, so the city is easily accessible via the Chalerm Mahanakorn Special Expressway, or via the Green Line and Yellow Line, which are under construction and will add to the convenience of this area even more. Also, Bangna is home to many international schools, such as Bangkok Patana School, Thai-Singapore International School, Berkeley International School, St. Andrews International School, Concordian International School Didyasarin International Preparatory School, Thai-Chinese International School, and St. Joseph Bangna School, among others.

The total supply in the Bangna area from 2009 to October 2018 included 7,836 units, with a 94% sales rate, where the focus has been largely on condos in the Grade C segment. The average selling prices for new Grade B high rise condominiums in Bangna-Sukhumvit that launched from 2017-2018 is approximately 120,000 baht per sqm.