The largest unit at The Royal Residence Kaset-Nawamin is priced at 300 million baht and comes fully decorated and furnished.

SET-listed developer Frasers Property (Thailand) (FPT) has launched 31 single detached houses priced between 107 and 300 million baht in the Kaset-Nawamin area, aiming to tap into strong demand from ultra-high-net-worth individuals.

The units are the remaining unsold houses at The Royal Residence, which FPT acquired in December 2021 from TCCCL Sena Co, a subsidiary of TCC Group owned by the Sirivadhanabhakdi family, who are also FPT's major shareholders.

According to Pawarun Udomsiri, FPT's senior executive vice-president for housing project development, three of the 31 units have already been purchased by existing residents of the project.

"These buyers, who purchased units at the project over a decade ago, were looking for additional homes to accommodate their growing families -- even though the newly launched units are priced at three times the amount they originally paid," he said.

TCCCL Sena launched the project in 2008 on a 76.75-rai plot on Prasert-Manukit Soi 27 in the Kaset-Nawamin area, comprising 79 units priced between 35 and 120 million baht. The 31 remaining units were later sold to FPT.

The smallest unit currently available occupies a 184-square-wah plot with a usable area of 560 square metres and is priced at 107 million baht for the bare shell.

The largest unit, on a 374-sq-w plot with 1,166 sq m of usable space, is priced at 300 million baht and comes fully decorated and furnished.

Mr Pawarun said buyers of the smallest unit available typically have total assets of at least 500 million baht, while those purchasing the largest unit have assets exceeding 1 billion baht. Around 80–90% of them make the purchase in cash.

"We've retained the original Oriental Victorian architectural style used in the existing units for the new ones launched this year to ensure harmony with the overall project," he said. "It's a challenge to introduce new units within an existing development."

While the exterior retains its original design, the interior has been updated with modern functions to meet the needs of today's lifestyles and appeal to new-generation buyers.

Features include a supercar garage with provisions for a car lift in future, a strong room, an indoor sunken area, along with a glass house.

"Some buyers in the ultra-luxury segment may be affected by the US tariff hike, particularly those who are business owners," he added. "However, others -- such as those not involved in the export sector -- are unlikely to be impacted."