An artist’s impression of the mixed-use Langsuan Village development in Bangkok.

Crown Property Bureau subsidiary Siam Sindhorn Co plans to launch three new residential phases of its Langsuan Village project in Bangkok worth a combined 7 billion baht next year.

Chief executive Chalaluck Bunnag said the new phases would all be condos for sale in the middle-market and high-priced segments.

Sindhorn Midtown worth 3 billion baht will be located on a four-rai plot on Lang Suan Road next to Mater Dei School. Comprising two 29-storey buildings with 475 fully furnished units, it will be launched in next year's first quarter.

Most units will be sized 35 square metres and priced no higher than 200,000 baht per sq m for a 30-year leasehold, targeting early jobbers.

The other two phases with a total sales value of 4 billion baht will tap the high-end market.

Tonson Park View Residence will have only 40 units sized from 80 sq m, while Langsuan Park View Residence will have only 20 units sized from 200 sq m. Prices for both towers will not be finalised until their launch in next year's fourth quarter.

"The weak economy has a minimal effect on the high-end market," Mr Chalaluck said. "Land prices have risen, and condo prices follow them, particularly in prime locations, while high-end demand remains strong."

Siam Sindhorn is selling 80 remaining units at the 200-unit Sindhorn Residence, which was launched late last year at Langsuan Village.

Prices are 220,000 baht per sq m, up from 210,000 baht last December and 190,000 baht in October 2014.

Langsuan Village is a huge mixed-use development in the Lang Suan Road area that will have a total investment of 26 billion baht until 2019.

Located on a 56-rai site, the project will include 1,000 apartments and serviced apartments at three buildings, with one having facilities to support the elderly.

A medical and health centre will be managed by Bangkok Hospital with 24-hour services, while a luxury hotel with 200 rooms will be managed by Siam Kempinski.

Near the hotel at the corner of Lang Suan and Sarasin roads, a museum will showcase Thai traditional performances. A shopping centre with 10,000 sq m of space will stand at the front of the site.

In 2017, Siam Sindhorn will realise revenue of 4.5 billion baht from Sindhorn Residence. Revenue will jump from rental properties including Sindhorn Tower, an office building on Wireless Road now 80% occupied. 

Siam Sindhorn yesterday signed a contract with German brands Siemens, Poggenpohl and Hansgrohe and Italian brand Poliform to use their products at Sindhorn Residence.