The developer Frasers Property Thailand has announced its plans to invest about ฿14 billion in hotel, residential and industrial projects during the year. Most of the investments will come to the residential sector, as the developer moves to the construction of private houses.
Most of the investment budget, amounting to ฿10 billion, was directed to the development of housing construction, including the purchase of new land and the construction of houses, another ฿2 billion were allocated for the development of new industrial complexes, and ฿1.7 billion will be used to purchase the remaining lease rights to the land and buildings of the Mayfair Marriott Executive Apartments from the GOLD Property Fund.
The developer will launch 15 new residential projects by the end of the year, and all of them will be in the housing sector. The plans include 8 detached mansions, 5 townhouses, and 2 duplexes. The latter will be located outside Bangkok. The developer is starting to focus on individual mansions as demand remains high.
Another important milestone for Frasers Property Thailand will happen in September with the opening of Silom Edge. This mixed-use project will cost ฿1.8 billion. This is the developer's first attempt to reconstruct the old building.
Silom Edge attracts digital entrepreneurs and startups thanks to several unique features: unusual building space, favorable rental conditions, extended opening hours, as well as cryptocurrency and non-cash payments.