Thonburi Health Village Pracha Uthit will be on Pracha Uthit 60/1 Road, comprising two 11-storey condominium buildings with a total of 412 units sized at 32 and 64 square metres and priced from 2 million baht.

Premiere Home Health Care Co, a subsidiary of SET-listed Thonburi Healthcare Group Plc, plans to launch a second senior living condo project worth 850 million baht in the Pracha Uthit area to tap younger demand at lower prices than those seen at the first facility in the Rangsit area.

Chairman John Lee said that about two-thirds of customers visiting Jin Wellbeing County, the company's first retirement home project, wanted to buy a unit but changed their mind because they could not afford one.

"The second project will come with lower unit prices," Mr Lee said. "It will tap Generation Y or younger senior people aged 40-50 years old and those with a responsibility to take care of their parents and also their children."

The company will launch the second senior living project, Thonburi Health Village Pracha Uthit, on Oct 12 after spending 250 million baht to acquire a suspended condo project at the 8.5-rai site in August from former owner Super P&S Co.

The project will be situated on Pracha Uthit 60/1 and consist of two phases. Phase one will be on a four-rai site and will have two 11-storey buildings and a total of 412 units sized at 32 and 64 square metres and priced at 2 million and 4 million baht, respectively.

Like Jin Wellbeing, the new project will have a universal design for those of all ages and physical conditions. Features will include wheelchair ramps, 24-hour staff on duty, first aid/CPR tools and ambulance services. All units will have handrails, non-slip floors and an emergency call system.

While Jin Wellbeing targets those aged 55 years old, the Pracha Uthit project aims for 40-50. Jin Wellbeing offers units priced from 4 million to six million baht, or 85,000-120,000 baht per sq m, while the latter offers unit priced at 64,000 baht per sq m.

The new project will have an eight-storey wellness centre, with active wellness programmes designed by medical doctors. There will also be a physiotherapy clinic, medical spa and health seminars.

Common area fees will be 38 baht per sq m per month, and service fee will be 500 baht a month per person.

Mr Lee said Premiere will also spend 200 million baht to build a therapy hospital, Thonburi Burana, within the project.

He said the company expects to have 50% sold at the new project within five months. Units will be completed and transferred to buyers by next March.

"One-fifth of the Thai population are our target customers," he said. "But this great demand has limited supply offered to them."