FINDING a good niche for a property project is a daunting task because almost everything has already been covered but this is what a well-known developer has accomplished with his Happiness Condo as it is next to Gemopolis in Bangna and mainly caters to skilled workers in this estate.
At the helm of this project is Praphaisith Tankeyura who even while continuing to develop Boathouse Hua Hin has set up another company, Maboonyong, with the Assarasakorn family to develop this low-rise condo project largely for the workers of Gemopolis which was founded by Boonyong Assarasakorn in 1990.
So far six five-story buildings in the first phase have been built on a six rai plot and only about 50 out of a total 311 condos are left to be sold. The price is in the range of 1.3 to 1.5 million baht for 25 to 34 sqm units.
“This is a hub for jewelry export and there are about 20,000 skilled workers, specialists in jewelry, within Gemopolis.
“The biggest company is Pandora, it has 12,000 workers, and because they are skilled workers they earn around 25,000 baht a month and so we target these people.
“It’s next door so it’s a niche market. People save three hours of their daily life living in my project because they can walk to work.”
However other people in the Bangna zone have also been attracted to this development and among them are air hostesses and stewards because it is just 1.5 kilometers away from Suvarnabhumi Airport’s control tower.
Another group this project has been able draw are doctors and other medical staff from nearby hospitals and clinics and one reason could be the location because the soi it is in is the only one linking Kanchanapisek ring road to Kingkaew road.
“Because we are not a listed company buyers want to see the finished product first and only then would they buy – they don’t dare give us any money beforehand.”
Mr Praphaisith added that his company intends to continue building more condominiums at this site because it has as much as 200 rai altogether.
“So there is a lot for me to do in the years to come.”
TOP: The exterior of Happiness Condo which is making a lot of workers in Gemopolis very happy.
INSET: Mr Praphaisith has found a unique development niche in Bangna.
By Nanthida Kumari