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Vilailuck Development launches Bt2 billion mix-project

Vilailuck Development has launched its latest property project, "Phuphatara Khao Yai", at a cost of Bt2 billion.

The project over 70 rai of land will consist of 90 villa units worth Bt700 million, and a Bt300-million four-floor condominium building with 63 units. The villas will be priced at Bt8 million-Bt11 million per unit, while the price of condominiums will start from Bt3.54 million or Bt59,500 per square metre.
The project is expected to be totally complete by the end of next year. Meanwhile, a five-star hotel project, worth about Bt500 million, to be managed by the Dusit D2 chain, will be completed by the middle of 2014.
Wattanachai Vilailuck, executive director of Vilailuck Development, said that land price in the Khao Yai area had increased to Bt3 million-Bt5 million per rai at the moment. It is a result of many development projects in the area by property developers, which will give consumers a wider choice.
"We, however, do not believe that the property projects in Khao Yai will have an oversupply problem. Both foreign and local consumers are in favour of buying housing units in Khao Yai as their second home for holiday leisure. Khao Yai itself has strong tourism potential, not any less than other attractions like Hua Hin, especially in the winter season, which can draw a lot of tourists both Thais and foreigners," he said.
"About 20 per cent of villa units have been booked, and 40 per cent of the whole project is expected to be sold by the end of this year. All projects are expected to be sold out by next year," said Wattanachai.
(Source : The Nation)

Vilailuck Development, Phuphatara Khao Yai