Sanit Adhyanasakul, Chief Executive Officer Property Perfect Public Company Limited clearly pointed out… The implementation of the EEC city plan after 2017, this area still has strong infrastructure, including U-Tapao Airport, Map Ta Phut Port, High-speed trains will create Ban Chang, Rayong, similar to the area surrounding Suvarnabhumi Airport. After having a complete infrastructure, It is estimated that at least 30 million tourists visit each year.
CEO Property Perfect PCL.
The real estate segment has a high growth opportunity. Starting with low-rise housing, there is a high -rise near the sea. After the opening of U-Tapao Airport was completed, Tourism business such as hotels and condos will follow later.
When comparing the EEC with Bangkok at this time, I think Bangkok have oversupply but the horizontal can still grow after there is an additional factor, covid-19. The EEC has no picture of oversupply. After today’s start, “Silicon Tech Park” will create employment. I am confident that the EEC will have more than double digit annual economic growth, more than 10% for sure.
The advantage in Ban Chang, Rayong, one of the EEC areas, is that there is a Map Ta Phut port, making Ban Chang the best opportunity in Thailand at the moment.
“Silicon Tech Park” has become a new start in the business and real estate industry of the country. Plus the COVID-19 situation therefore get attention.It must rely heavily on the ability of Tech Park project managers, but I still confident because of the EEC policy under Dr. Kanit Saengsubhan, EEC Secretary General, has strong urban planning in 3 provinces.
I think Tech Park is new ,The emergence of COVID has made Tech Park grow faster. I think this place will create jobs for Thai people and create a new business economy.
Q: Perspectives on real estate opportunities in the EEC after this and the utilization of U-Tapao Airport, Map Ta Phut Port and High Speed Train
A: I look like this, after the implementation of the EEC city plan in 3 provinces, namely Chonburi, Rayong, Chachoengsao, at the end of 2017, due to the potential of the EEC can still grow in five years especially U-Tapao Airport ,Map Ta Phut Port and High-speed trains, these 3 will be like a residential city occurring in this area, similar to Suvarnabhumi. I saw Suvarnabhumi grow ten years ago.
I saw that Ban Chang would be similar to Suvarnabhumi. And Suvarnabhumi is in three major areas,consists of Motorways, U-Tapao Airport that will accommodate a large number of aircraft. It is expected that at least 30 million foreign tourists will come in the future. I think this area will be a good residential city as it has better conditions than Suvarnabhumi. Because the construction area is not difficult to build and near the sea, it is a livable city. I am confident that five years from now it will be one of the most livable cities in Thailand.
Q:The growth cycle of real estate – horizontal – vertical
A: I think it should start with a horizontal line. Condominiums or high rises will be located near the seaside because we encountered the problem of covids 2 years ago, it may cause the growth to slow down a bit, but I think after the opening of U-Tapao Airport for tourists to enter , I believe that it will start from the horizontal first like Suvarnabhumi as well. After that there will be a hotel, condominiums will follow in 4-5 years after the High-speed rail is finished. Map Ta Phut is finished. Which, as far as I know, is about 3-5 years from next year.
Q:Real estate oversupply or not? Compared to Bangkok and the EEC, if not oversupply, why?
A:Bangkok condominiums have oversupply. This is housing estates are not over-supply because most of the customers who buy it are the finished houses that we are using. The part that was ordered was also increased. The demand continues to increase steadily. From COVID, low-rise housing is growing faster. It can be seen that the sale of our project in Bangkok is still selling very well. I think the horizontal should grow well. The high-rise might take a while to wait for the Infrastructure is U-Tapao to complete, Map Ta Phut port and High-speed train opened for operation.
EEC, I don’t think that picture has yet been born. It is also the period when the population gradually enters. I think it will start with the industry. And as Mr NPairoj (Piempongsant) and Mr. Sawasdi (Horrungruang) focus on Digital Tech Park. I think this will create jobs for Thai people and create a new business economy.
Yearly growth Ten percent, I think that shouldn’t be a problem. I don’t think it’s hard at ten percent a year. Two digits, I think in Bangkok. Probably won’t even see a double digit number, May see the number grow 5% , 7% per year. The number will grow more than ten percent, I think it will happen in the EEC for sure. If more than ten percent per year. At least in five years I’m sure it will happen and after it’s done, it will continue to grow. Like what I developed in Bangkok and its surrounding areas, there will be two phases, before the completion of the BTS and after the completion of the BTS. I went to develop at Suvarnabhumi about a thousand rai (395.36 acres), it took me about 10 years. Considered that we are the first developer to do in an area of about a thousand rai. I have been developing for ten years. After the airport is finished, it grows even faster.
A while ago I traveled from Bangkok, It’s no more than two hours is considered very fast with a motorway. If you go to see Suvarnabhumi, there will be Suvarnabhumi Station, Airport, Motorway, which Ban Chang is the same way. Ban Chang is better than that because having a port . Map Ta Phut port that goes out to the sea as well, can connect to the world.
With the potential of the location I look at, I think Ban Chang is the best location in Thailand at the moment because, as I told, there is a port of Map Ta Phut that can go to the sea, can deliver goods, an airport that is assembled with high-speed trains that will be completed. The motorway, if looking at the Suvarnabhumi area, is the most similar character. I developed at Suvarnabhumi for about 1,200 rai( 1,200 rai = 474.44 acres )There are about two hundred rai remaining. From where we developed, I think Ban Chang has a chance.
Q: Silicon Tech Park, a new story in Thailand, plus placing from the EEC urban planning, how does it affect Thailand ?
A: I think Tech Park is new in the residential and real estate industry because it’s like an office or housing that will be combined with digital. Growth has to admit that the emergence of COVID has made Tech Park grow faster. I think this is a new thing that takes place that requires Mr. NPairoj’s ability to attract foreign investors. If foreigners come to invest in Thailand, they will benefit the most. I look at the development of the EEC. Thirty years ago, Mr. Sawasdi or Mr. NPairoj made it. Growth is fast but I think this time after the Airport and Map Ta Phut port are finished. I think it will be faster than the old times.
I am confident that Dr. Kanit’s EEC policy, which focuses on expansion and urban planning at the level of three provinces, As far as I can see, there is the first one. Bangkok, 4-5 provinces that I have developed don’t have a comprehensive city plan. I’ve previously proposed to have a comprehensive city plan, but it hasn’t happened yet. I understand that Dr. Kanit is far-sighted and planned the city for these 3 provinces. I am confident that the future city planning will be a good residential city for Thailand.