LPN to up condotown price

Leading mid-range condo developer LPN Development will lift prices for the second phase of its Lumpini Condotown Ramintra-Nawamin project by 20-25 per cent, thanks to strong demand and despite the economic contraction.

The developer will increase its existing promotional price, starting from Bt699,000 to Bt845,000 per unit, because of interest shown in the first phase.

At the first-phase launch on June 6, all 1,088 units were sold out within one day.

For the second phase of 720 units, the developer will open booking tomorrow, managing director Opas Sripayak said.

"The company foresees more strong demand for condo units in this location [Ram-Indra] after the close of first-phase selling," he said, adding that the company now has a waiting list of 2,000 customers wanting to buy condos in the Ram-Indra-Nawamin area.

As a result, Opas said, the company had moved up the opening for bookings of Lumpini Condotown's second phase to this weekend.

Lumpini Condotown Ramintra-Nawamin is the latest condominium model designed by LPN Development featuring one bedroom with utilisation space of between 25 and 26 square metres.

The project targets customers currently renting apartments in Bangkok.

"Demand for condos in the middle to lower-income segment increases steadily once we design a project to match their needs," Opas added.

Lumpini Condotown Ramintra-Nawamin is one of six residential projects LPN Development plans this year to drive presales to the Bt8-billionx target.

LPN posted first-quarter revenue of Bt2.03 billion and net profit of Bt364.46 million, up 46.44 per cent and 78.73 per cent respectively from the same period last year.

By SOMLUCK SRIMALEE
THE NATION
Published on June 19, 2009