Bangkok’s infrastructural changes have been helping property developers identify future hot-market areas for new projects, and with Bangkok’s Don Muang Airport now catering nearly double the passenger traffic as it did last year, the area surrounding it has grabbed the attention of some key industry players.
J.W. Rea Estate Co is one of the first to begin capitalizing on the increasingly-popular Don Muang Airport, with plans to launch a new 700 million baht condominium project in the area to be called JW Condo@Donmuang. The project will consist of six buildings of eight-stories each, all together containing 673 units, as reported by the Bangkok Post.
This project is likely to first and foremost appeal to the strong demand for nearby housing from the aviation industry’s professionals that frequent the airport and need a second or local home. Heavy traffic in the area as well as scarce parking are issues that the airport is currently dealing with.
The president of J.W., Wisit Korworrakul said that this year there will be at least ten low-cost airlines landing at Don Muang. At present, there are roughly 7,000 people working on aviation-related business centered on the airport, which can be tapped into as the project’s housing supply.
Located in the northern part of Bangkok, Don Muang Airport is in Song Prapha , an area that is heavily growing in demand year after year. Last year land reached an increase of 30%, year over year, with land prices averaging 100,000 baht per square wah.
