Maison Development แถลงข่าวทิศทางตลาดอสังหาฯของปี 67พร้อมเปิดโครงการบ้านใหม่
News and Activities - EN
26 August 2024

Press Conference of Maison Development 2024

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              On March 26, 2024, Maison Development, under the company “Plearnpat Asset Co., Ltd.,” held a press conference regarding the real estate market outlook for the year 2024 and its strategic plans. Following the completion of three projects, the overall market for this year remains challenging, particularly in the segment of homes priced below 3 million baht, where cancellations continue to rise. Recognizing the potential in the luxury market, the company is focusing on developing seven new projects this year, with a total value exceeding 3.7 billion baht. These projects will be located in prime areas from Bangkok to Phuket. The 5-year roadmap anticipates a portfolio value of 5 to 6 billion baht. For this year, the company aims to achieve total sales of 1.4 to 1.5 billion baht and transfer revenues of 900 million baht.

 

Exucutive Vision

              Mr. Pongsak Sawatyanon, Chairman of Plearnpat Asset Co., Ltd., brings over 10 years of experience in real estate development. He believes that residential property remains one of the four basic needs that everyone has, particularly in the horizontal residential project segment. In 2018, Mr. Pongsak, along with a group of partners, established Ploenpat Asset Co., Ltd. with a registered capital of 5 million baht, holding a 51% share while the remaining 49% is owned by 2-3 partner groups. Under this structure, each project is managed through a subsidiary company specifically established for its development. All projects are developed under the brand Maison Development.

 

Our ‘SOLD OUT’ Projects

              Since its inception in 2018, Maison Development has focused on developing horizontal residential projects priced between 2 to 5 million baht. These projects are located in various zones including the northern, eastern, and western parts of Bangkok, as well as in Samut Prakan and Chonburi provinces. To date, the company has developed 6 projects with a combined value of over 2.3 billion baht. Out of these, 3 projects, worth 1.132 billion baht, have been successfully sold.

1. M Venue Westgate

The project is located in Bang Rak Phatthana, Nonthaburi, and features single-family homes and twin homes. It spans a total area of over 9 rai, with land sizes starting from 37 to 50 square wah and prices beginning at 4 to 6 million baht. The development includes a total of 54 units, with a project value of 212 million baht.

2. M Live Bangna – Lat Krabang

The project is located in Bang Sao Thong District, Samut Prakan Province. It features 2-story townhomes and 3.5-story home offices, covering a total area of over 6 rai. Land sizes start from 18 to 50 square wah, with prices beginning at 2 to 4 million baht. The development includes a total of 66 units, with a project value of 190 million baht.

3. M Life Bangkae – Sathon

The project is located near Kanchanaphisek Road and features 2-story townhomes. It spans a total area of over 18 rai, with land sizes starting from 18 to 19 square wah and prices beginning at 3 to 5 million baht. The development includes a total of 204 units, with a project value of 730 million baht.

 

Our On-Going Projects

              Additionally, there are 3 projects currently available for sale, with a combined value of over 1.1 billion baht. For the year 2024, it is anticipated that all of these projects will be successfully sold.

1. M Life Lamlukka – Klong 4

The project is located in Lam Luk Ka District, Pathum Thani Province. It features 2-story townhomes, covering a total area of over 19 rai. Land sizes start from 19 to 20 square wah, with prices beginning at 2 to 4 million baht. The development includes a total of 210 units, with a project value of 473 million baht.

2. M Life Sukhumvit – Bangpu 87

The project is located in Bang Pu Mai, Samut Prakan Province. It features twin homes and 2-story townhomes, covering a total area of over 17 rai. Land sizes start from 19 to 37 square wah, with prices beginning at 2 to 4 million baht. The development includes a total of 173 units, with a project value of 460 million baht.

3. Sriracha Hillside Town Sukhumvit – Sriracha

The project is located in Si Racha District, Chonburi Province. It features single-family homes, twin homes, and commercial buildings, covering a total area of over 8 rai. Land sizes start from 18 to 50 square wah, with prices beginning at 4 to 7 million baht. The development includes a total of 63 units, with a project value of 260 million baht.

 

Overview of the Real Estate Market for 2024

              Mr. Pongsak Sawatyanon further commented that the real estate market in 2024 is undeniably challenging for land developers, especially in the horizontal residential sector for properties priced below 3 million baht. This segment continues to face high cancellation rates and significant bad debt, coupled with stricter lending policies from financial institutions.

Despite these challenges, the company remains active in developing homes priced between 2 to 5 million baht. The locations and potential of the land they develop, along with the timing of their sales, which occurred before the COVID-19 crisis, have helped mitigate issues related to cancellations. This has resulted in satisfactory sales and transfer figures for the company. Moreover, the post-COVID-19 period has seen an increased demand for horizontal residential properties, allowing the company to maintain strong and continuous sales performance.

 

Maison Development’s Project Launch Plan for 2024

              Therefore, in 2024, the company plans to launch a total of 7 new projects with a combined value of over 3.7 billion baht. These projects will be developed in areas including Bangkok, Si Racha (Chonburi), and Phuket. This year, the company will focus on developing luxury homes with prices starting from 7 to 20 million baht.

Out of the 7 projects, 6 will be luxury developments: 5 in Bangkok and 1 in Phuket. The land for these projects has already been secured, and they are expected to enhance the company’s presence in the high-end market segment.

1. Maison Hill Sukhumvit – Sriracha 

    • Location: Si Racha, Chonburi
    • Type: Single-family homes, twin homes, and townhomes
    • Area: Over 24 rai
    • Land Size: 18-36 square wah
    • Price Range: 2.3-4.2 million baht
    • Units: 176
    • Project Value: 558 million baht
    • Pre-Sale: Began in February 2024, with sales currently around 150 million baht

2. Morgen Bangkhunthian – Rama 2

    • Location: Bangkhunthian
    • Type: 2-story single-family homes
    • Area: Over 30 rai
    • Land Size: 50-70 square wah
    • Price Range: 7.5-14 million baht
    • Units: 103
    • Project Value: 1.06 billion baht
    • Pre-Sale: Scheduled for May 2024

3. M Venue Rama 3 – Suksawat 62

    • Location: Soi Pracha Uthit 27
    • Type: 3-story townhomes
    • Area: Over 5 rai
    • Land Size: 23-36 square wah
    • Price Range: 4.9-6 million baht
    • Units: 42
    • Project Value: 257 million baht
    • Pre-Sale: Scheduled for October 2024

4. Grand Morgen Privacy Phrannok – Sai 1

    • Location: Bang Cheuk Nang Road
    • Type: 2-story single-family homes in villa style
    • Area: Over 6 rai
    • Land Size: 100-120 square wah
    • Price Range: 18-20 million baht
    • Units: 14
    • Project Value: 270 million baht
    • Pre-Sale: Scheduled for November 2024

5. Grand Morgen Phrannok – Sai 2

    • Location: Near Phutthamonthon Sai 2 Road
    • Type: 2-story single-family homes
    • Area: Over 28 rai
    • Land Size: 102-199 square wah
    • Price Range: 14-16 million baht
    • Units: 64
    • Project Value: 1 billion baht
    • Pre-Sale: Scheduled for November 2024

 6. Mavich Sathupradit – Rama 3 

    • Location: Near Rama 3 Road
    • Type: 3.5-story townhomes
    • Area: Over 3 rai
    • Land Size: 24-47 square wah
    • Price Range: 14-16 million baht
    • Units: 29
    • Project Value: 420 million baht
    • Pre-Sale: Scheduled for November 2024

7. Maison Sky Villas Phuket

    • Location: Mai Khao Beach, opposite Phuket Airport
    • Type: 3-story pool villas
    • Area: Over 2 rai
    • Land Size: 44-70 square wah
    • Price Range: 20-25 million baht
    • Units: 8
    • Project Value: 180 million baht
    • Pre-Sale: Scheduled for October 2024

All of these projects are currently under construction, with completion expected between 2024 and 2026. Over the next 5 years, the company plans to focus on developing horizontal residential projects priced between 3 to 20 million baht in high-potential locations, including central Bangkok and key tourist destinations. Phuket, in particular, remains a focus due to significant remaining land holdings. This strategy is expected to result in a total portfolio value of approximately 5 to 6 billion baht. Mr. Phongsak Swatyanont also mentioned the potential for listing the company on the stock exchange in the future.

 

Additional Information

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