Nestled between the sleepy fishing town of Bang Saray and the Eastern Economic Corridor (EEC), a new development project aimed at retirees by Sunplay Asia hopes to cash in on the up-and-coming popularity of the area.
The 3.5-billion-baht project combines 70 apartment units and plans to build dozens of villas around a 175-rai property in the foothills near Bang Saray.
A one-bedroom apartment ranges from 11 million to 14 million baht, while two bedrooms are listed from 26 million to 28 million baht. Standard villas can go for around 40 million baht, while customisable luxury villas can cost upwards of US$2 million.
Sunplay Asia managing director Chris Delaney said he hopes to capitalise on the development of the area through the government’s EEC plan, like the expansion of U-tapao airport and the completion of a highway bypassing Pattaya, shortening the trip from Bangkok to Bang Saray.
“Bang Saray has been quite fortunate in that it’s been spared the overdevelopment of Pattaya and Jomtien,” Mr Delaney said. “It’s benefiting from the EEC, which will build demand in an already hot area.”
He said Sunplay was the first to market a luxury retirement community on Thailand’s Eastern Seaboard, and now copycats are following.
“We wanted to do something unique,” Mr Delaney said. “We determined there’s a large, growing niche for retirees from Asia and Europe, not recognised as a market segment in its own right.”
Sunplay expects to finish construction of the condos by the end of January, estimating that 78% of units will be sold by the end of December. The company hopes to finish the adjacent pool and clubhouse soon after, with a grand opening planned for April.
The future occupants are currently about half Thai, half foreign, with the foreigners split between local expats and overseas buyers.
The development markets itself as an “active living community” boasting bike trails and future plans to build a putting course, tennis court and jogging track.
The property also includes an eco-dome area where residents can grow vegetables to eventually use in the clubhouse restaurant.
“It’s kind of like living in a private park,” Mr Delaney said. “It has everything from bird life to lakes to rolling hills, while also feeling safe and secure.”
Sunplay Bangsaray was recently named one of the Best Condo Architectural Design (Asia) projects at the PropertyGuru Asia Property Awards 2018.
The Phornprapha family, owners of Siam Motor Group, are a major shareholder in Sunplay, and Phornpun Phornprapha was appointed as Sunplay’s president.
Ms Phornpun previously held senior management positions at Siam Machinery and Siam Country Club.
For more detail: https://www.bangkokpost.com/business/news/1589190/retiring-in-style-in-bang-saray