Thailand retail giant CPN will continue its expansion into residential real estate by launching four condominiums and two housing estates in 2022. The most notable development is a high-rise condo in Ayutthaya that will be the city’s tallest. The developer is expected to spend THB3 billion on the projects.
CPN has opted to launch most of its residential developments in Thailand’s provincial areas as part of the company’s larger strategy. It is building malls in underserved parts of Thailand and surrounding them with condominiums, housing complexes or both.
“Now, we have sold more than 90 percent of units of 12 projects in eight provinces. We consider it a key strategy to develop premium residential projects along with mixed-use projects and malls, which will help upgrade the provinces,” Khun Kree Dejchai, Executive Vice-President for Residential Business at CPN, told the Bangkok Post.
The firm’s most notable project under this strategy is Escent Ville Ayutthaya which is situated next to the recently opened Central Ayutthaya shopping center. It will be the tallest high-rise condo in Ayutthaya once completed. CPN sees it being an ideal residence for the province’s upscale local buyers along with the region’s Japanese expat community.
Escent Ville Ayutthaya contains a total of 396 units with these coming in one- and two-bedroom varieties. Prices start at THB1.9 million. The condominium will be the only one in the city to boast complete rooftop facilities.
CPN builds for the next generation
While CPN isn’t focused on Bangkok, the projects it does launch in the Thai capital have lookd to the next generation of property seekers. In 2021, the developer introduced Nirati Donmueang which will feature modern tropical houses and amenities catering to the needs of homebuyers in their 20s and 30s. The firms will continue to look for ways to tap into growing demand for housing in suburban Bangkok while supporting efforts in the provinces.
