Tcc land development plans budget flats for low-income tenants

TCC Land Development, the property-development arm of beverage tycoon Charoen Sirivadhanabhakdi, is spreading its wings into the budget-accommodation market, with plans to build three apartment blocks in Bangkok this year.

Each of the properties will consist of 50-60 apartments for rent, ranging from Bt4, 000 to Bt5, 000 per month. They will be located in the Ratchadaphisek, Bang Kapi and Suthisarn areas. Deputy Director General Soammaphat Traisorat said that the projects to tenants of low-cost services. The cost of building blocks were found.

"The team has a lot of land and buildings in the capital that could accommodate apartment development," Soammaphat said.

As troops Group was considering establishing its own flat-chain management to run flat with higher standards and management systems than those at large operators, "he said.

As well as apartments, the group ventured on average prices in the housing market. Her first real estate development company, S and S Residential, has launched a new project in Sukhumvit Soi 101 / 1 for low - to middle-income consumers. It will have a market value of Bt1.8 billion.

The group also announced a new low-cost hotels-called Imm hotels targeting budget travelers.

Soammaphat said Imm can be divided into three sub-brands. First, Imm called Fusion, will be applied to boutique Thailand property are located in Bangkok and upcountry. Second, Eco Imm, will be applied only to upcountry destination. And third, Imm, will be mainly in Bangkok. W brands will provide the space for about Bt1, 000 a day.

Imm first two properties that already exist in Chiang Mai and Bangkok in Sukhumvit Soi 51. Further budget hotels are currently planned in Phuket, Hua Hin and Krabi.

Overall, Land Development plans to spend up to Bt70 billion in Thailand property projects across the country, Soammaphat said.