Off-Plan Projects Launched in 2024

Several real estate developers launched off-plan projects in Bangkok in 2024 in central Bangkok locations around Sukhumvit Rd, Sathorn, Riverside and the Lumphini area.

Launching a new project involves market research, purchasing the land, creating architectural plans, receiving government approval for the type of property being built, and constructing the physical buildings. It can take several years from the initial stages for large residential buildings filled with individual units to receive residents, highlighting the importance of property developers in Thailand.

At some point during the development stage, off-plan projects will involve securing early buyers for units within the property. This typically takes place once the developer has completed construction on a showroom for the upcoming project, which is then opened to prospective buyers so they can inspect the quality of the finished product.

With the showroom finished, organizers will set up a full virtual tour of the room and building complete with 3D and drone imaging to give potential overseas customers a better idea of what they can expect.

Land and Houses

Thai property developer Land and Houses announced a 2024 budget for new residential projects totaling 30.2 billion Baht. Each of these projects are low-rise houses targeting the upper-segment of the market. There are 11 in total.

L&H has stated that they have a sufficient supply of condo units already and won’t add to that number in 2024. In total, they have 6 billion Baht worth of constructed units and plans to complete a further allotment of 10 billion Baht.

Established in 1983, Land and Houses has always had a strong focus on residential real estate. Their 2023 total asset value was 292.5 billion Baht.

Sansiri

Another of Thailand’s biggest developers, Sansiri announced a budget for new projects totaling 61 billion baht in 2024. There are 46 new residential projects in total, 20 of which are newly launched condo developments.

During the pandemic, Sansiri added a large amount of land to their collection at cheaper prices, allowing them to increase developments in 2024. Presales on many of these projects from foreign buyers is expected to increase by 15% as they target markets in India and Saudi Arabia.

Founded in 1984, Sansiri is another of the biggest developers in Thailand at 144 billion Baht in total asset value as of 2023.

Scope Collection

Luxury property developer Scope Collection’s 2024 project is Scope Thonglor with a budget of 3 billion baht. The project is located next to BTS Thonglor station with a total of 32 floors dedicated to serving 18 penthouse condominiums. Each unit is priced from 200 million baht and up, with two-thirds already sold, 20% of which went to foreigners.

Scope Collection is a relatively newer player in the Thai real estate development game, established in 2017.

Frasers Property

Frasers Property Thailand (FPT) has announced 11.6 billion baht scheduled for 7 new projects in 2024. This is down from 8 projects in 2023 as FPT temporarily shifts their focus from residential real estate to industrial.

Frasers Property says that factors like household debt, inflation, and interest rates will keep them out of the residential market to some extent.

Founded in 1990, Frasers Property Thailand has a total asset value of roughly 95 billion Baht as of 2023.

Eden Estate

Thai property developer Eden Estate has announced 17 new ultra-luxury units in 2024. These are low-density residential units, split into duplex and simplex categories.

Eden Estate was established in 2017. Their stated goals are to sustainably create top quality, fully-serviced residences in the luxury market.

AssetWise

AssetWise has announced a budget for new projects totaling 4.1 billion Baht in 2024. This money will go toward three-story detached houses in the luxury market. Each one is set to have a private lift and private pool.

Established in 2005, AssetWise had a 2023 total asset value of 22 billion Baht. This latest venture into luxury houses follows success in the condominium market with their Kave, Atmoz, and Modiz projects that fell in the 1-2 million Baht range.

Recent and Upcoming Condo Developments

Despite ongoing construction, several of Bangkok’s upcoming condo developments have progressed far enough that they’re already selling to investors and home buyers. This presents a unique opportunity to get in on a project at an attractive price.

These properties are in some of the City of Angels’ best neighborhoods, each with different reasons to attract customers.

The Crown Residences

The Crown Residences is located in the Sathon district and is scheduled for completion in 2024. As of early 2024, 90% of the structural work was completed leaving some system installation and architectural work.

Once complete, this 32-story, 183 unit project looks to be one of the premier condominium projects in Bangkok, and they’re available for purchase now.

Key Selling Points for The Crown Residences

• Walking distance to multiple parks, including Lumpini Park.
• 5-minute walk to MRT Lumpini and MRT Khlong Toei stations.
• Crown concierge service including grocery delivery, limousine service, cleaning service, and more.
• Located in a central business district with easy access to two others in Sukhumvit and Silom-Sathorn.
• One Bangkok is under construction in the neighborhood and looks to be a top entertainment center in the Capital.
• Price range of 6 to 73 million Baht.

Niche Pride Ekkamai

Niche Pride Ekkamai is a large-scale luxury condominium project with a scheduled completion date of 2026. Even though the units won’t be ready until then, they’re accepting buyers for the grand opening already.

Key Selling Points for Niche Pride Ekkamai

• Near BTS Thonglor (E6) and Ekkamai (E7) stations.
• No shortage of attractive international schools nearby.
• 24-hour concierge service.
• Nearby shopping options like theCOMMONS and Gateway Ekamai
• As a popular neighborhood, Ekkamai is an attractive investing opportunity.
• Price range of 5 to 11 million Baht.

Noble Form Thonglor

Noble Form Thonglor is a high rise condominium and apartment development scheduled for completion in September of 2024. It’s another luxury complex with 46 floors and a total of 546 individual units spread out inside.

Key Selling Points for Noble Form Thonglor

• Located near prime shopping options such as The EmQuartier, and theCOMMONS.
• Easy access to BTS stations Thonglor and Ekkamai.
• In the Watthana district, one of the most attractive neighborhoods in Bangkok and full of entertainment options.
• Top-quality services including after-sale interior design, parking, and 24-hour security.
• Fantastic shared amenities such as a high garden, yoga classes, library, swimming pool, and BBQ area.
• Price range of 7 to 26 million Baht.

Hyde Heritage

Hyde Heritage officially opened in August 2022. It’s a 45-story super luxury condo complex with 311 units in total that gained world-wide recognition in 2021, winning the International Property Awards’ high-rise development award.

The property has an environmentally conscious design focus with sustainably sourced lumber used in construction and many trees and gardens planted throughout the grounds.

Key Selling Points for Hyde Heritage

• 30 electric vehicle charging stations.
• Welcoming to Japanese residents with Japanese-language schools, hospitals, and supermarkets nearby.
• Penthouse room options available.
• Right between BTS Thanglor and Ekkamai stations.
• On-demand Hyatt Regency services including catering, housekeeping, limousine, personal fitness instructors, and more.
• Price range of 10 to 120 million Baht.

The Strand Thonglor

The Strand Thonglor is a luxury high-rise condominium complex with 30 floors and 188 freehold units that opened in December 2021. It joined several other luxury developments in the Watthana district and boasts all of the luxury services and amenities that you would expect for that area.

Key Selling Points for The Strand Thonglor

• Thonglor BTS station is minutes away on foot.
• Family friendly with 6th floor playroom and tutor rooms.
• 204-car automated parking system.
• Concierge system and 24-hour security.
• Located in an in-demand neighborhood with stylish interior décor.
• Price range of 16 to 90 million Baht.

The Estelle Phrom Phong

The Estelle Phrom Phong is an ultra-luxury condominium development that began hosting tenants in March of 2022. Created with the help of Japan’s oldest developer, Tokyo Tatemono, The Estelle has 157 beautifully designed rooms throughout its 37 floors, right in the heart of Khlong Toei District.

Key Selling Points for The Estelle

• Luxury shopping options nearby such as Emporium and The EmQuartier
• 200 meters from BTS Phrom Phong Station.
• Pet-friendly condominiums available with a pet shower area.
• Modern Japanese interior design.
• 1, 2, 3, bedroom units plus penthouse options.
• Price range of 15 to 99 million Baht.

For more information on Bangkok’s latest properties and how you can invest in one of these great developments, talk to a licensed PropertySights Real Estate expert today.