L.P.N. launches new condo worth B1.25bn

The listed condominium developer L.P.N. Development Plc has launched its new 1.25-billion-baht Lumpini Ville Ramkhamhaeng 26, aimed at university students and young employees, said managing director Opas Sripayak. The development will have 998 units sized from 28 to 62.50 square metres, starting from 980,000 baht per unit. Construction is scheduled to be completed in June next year. Bookings will open from Sunday.

L.P.N. earlier pioneered condominium development in the Ramkhamhaeng area with two projects with around 4,000 units. It has sold out its Lumpini Ville Ramkhamhaeng 44 and 80% of Lumpini Condotown Bodindecha-Ramkhamhaeng.

Mr Opas said the company's market research on residential demand in the area last year found that about 240,000 people wanted to live there. Most are students, employees in the area and people working at Suvarnabhumi Airport, which would be connected to Ramkhamhaeng through the Airport Link early next year.

There are currently 153 rental apartment buildings with 14,281 units in the area and 34 new projects with 2,655 units under the construction. The average monthly rent is around 3,500 baht.

LPN shares closed yesterday on the Stock Exchange of Thailand at 7.25 baht, up 0.25 baht, in total trade worth 127.19 million baht.

Source: Bangkok Post
Thursday February 14, 2008