It has been an exciting start to 2017, for the Bangkok property industry!
Important commercial and residential players have made moves that could massively alter Bangkok’s urban landscape over the coming years. Some notable announcements include the unveiling of “One Bangkok” a mixed-used development by the TCC Group, the rumored record-shattering bid for the purchase of the British Embassy Compound by the Central Group and the launch of “98 Wireless” which has redefined the meaning of super-luxury.
However all this glitz, glamour and hype, often polarizes public attention giving the illusion that the local market is only shifting in the exclusive areas of Bangkok’s Central Business District. Numerous neighborhoods throughout Bangkok are transforming, developing and gentrifying away from the spotlight. In many cases, these areas are nurturing vibrant residential communities, which are naturally transforming them into attractive investment hotspots!
Bang Na neighborhood
Udom Suk-Bang Na Neighborhood
Often viewed as a peripheral commercial and residential area, far away from the tourist attractions and high-rise offices, Udom Suk-Bang Na for local residents can be described as a “town within a city”!
Conveniently located via road and being served by the BTS Skytrain System (BTS Udom Suk & BTS Bang Na), the neighborhood is well connected. Also, its local urban development has meant that residents can enjoy all the perks of a central Bangkok lifestyle without its associated hefty price tag.
Indeed on a lifestyle perspective the neighborhoods offer quality residential options, from Ideo Mix/ Ideo Blucove by Ananda and Sky Sukhumvit by Property Perfect PCL in Udom Suk; to the wealth of town house compounds offered in Bang Na. In terms of leisure options Udom Suk has developed a robust food scene with a range of eateries, food stalls and restaurants. In recent years two malls catering to local residents have been launched notably Mega Bang Na and Central Bang Na.
Ideo Mix by Ananda located next to BTS Udom Suk
In terms of general demographics, the area is predominantly Thai, however the local community is still fairly balanced as Udom Suk’s good-value housing and lifestyle attracts a crowd of active young professional expats. It is interesting to note that Bang Na, is general more affluent and its Town Houses have been a popular residential option for expat families and affluent Thais whose children attend the numerous International Schools located in the area (I.e. Berkeley International School and St. Andrews International School in neighboring Bearing)
So what is changing…?
From the review above, the Udom Suk- Bang Na neighborhood may appear somewhat flat and uninteresting. However, a more in-depth evaluation will reveal that in the coming years the neighborhood’s development will be anything but ordinary.
1. Commercial Transformation
Firstly the area is about to welcome Whizdom Sukhumvit 101, which is located between Udom Suk and neighboring Punnawithi. This project by MQDC will be developed over an extensive 43-rai plot of land and will comprise of commercial, retail and residential elements. This impressive development will offer 20,000 Square Meters of lettable retail space and 70,000 Square Meters of lettable office space; the residential component will reportedly offer 2000 Units.
Whizdom 101 by MQDC (Photo Rendering Courtesy of MQDC)
BITEC Bang Na the Trade and Exhibition Center is also joining in the fray, with the development of A-Grade Office Tower “Bhiraj Tower at Bitec”. This tower will be completed in May 2017 and will consist of 29-Floors with a gross lettable area of 72,500 Sqm. This extension to the BITEC Bang Na complex is an effort, to position the trade and exhibition center as a leading destination for events, exhibitions and conventions.
Bhiraj at Bitec Office Tower completing soon!
Interestingly, this is not the only commercial development in the pipeline. The Mall Group developer of Emquartier and Emporium has announced the development of a mega mall known as Bangkok Mall. The planned location of this project is Bang Na and the Project is still reportedly awaiting EIA Approval. Based on initial announcements by The Mall Group the project will be developed over a massive 100-Rai plot of land and the mixed-use development will comprise of both retail and residential elements. Once complete the development will be the largest mall in South East Asia!
If successful, these developments could potentially uplift the area from a quiet residential suburb into a vibrant commercial hotspot. Where local residents can live and work thus providing an alternative commercial hub, to the established dominance of CBD locations (I.e. Silom-Sathorn and Asoke).
2. Residential Development
A commercial revival would be unsuccessful, if the quality of local housing failed to live up to expectations. However, some top residential developers have already honed in on the area.
Ananda Development has already launched “Ideo Mobi Sukhumvit 66” a Project offering 28-Floors and 298 Units located next to BTS Udom Suk Station.
Ideo Mobi Sukhumvit 66 will be located right next to BTS Udom Suk
The public listed developer has also launched an ambitious condo project “Ideo O2” located next to BTS Bang Na; this development is expected to complete in 2018 and it will consist of 3 Towers and a total of 1559 Units.
Ideo O2 by Ananda (Photo courtesy of Ananda Development)
Sansiri has also made its own move to capitalize on the area by developing The Line Sukhumvit 101. The condo is technically located in neighboring Punnawithi and it will comprise of 37-Floors and a total of 779 Units.
It is also important to note that Whizdom 101 mentioned earlier, will offer numerous residential condo elements notably Whizdom Connect and Whizdom Essence.
3. Infrastructure Transformation
Udom Suk- Bang Na is one of the neighborhoods best placed to experience the benefits of Bangkok’s BTS Line Extensions. The area has already welcomed the launch and completion of Samrong BTS Station. Interestingly, the construction of two more BTS Stations (BTS Puchao Saming Phrai and BTS Erawan Museum) are underway and they are expected to complete in 2018. A total of 9 BTS Stations are planned, effectively connecting the area to the province of Samut Prakarn. This should translate into an influx of footfall and commercial activity from the residents of the connected areas.
Finally while this is still at planning/proposal stage and not officially included in Mass Rapid Transit Master Plan, the Bangkok Metropolitan Administration (BMA) is said to be pushing for the approval and construction of the Bangna-Suvarnabhumi Line. This would effectively connect the area to Suvarnabhumi International Airport, thus relieving traffic on the Bang Na-Trad Road.
