Bonanza Group, the Khao Yai-based property developer, will tap Bangkok's housing market with plans to launch two projects on Chaeng Watthana Road.

Mr Songkran and his actress wife Thaksaorn show a model of The Sereno by The Bonanza at yesterday’s briefing.

"We're not worried about the political situation," said founder Phaivong Taechanarong.

"As long as Prime Minister Yingluck Shinawatra keeps smiling and compromising, there will be nothing in politics to be worried about."

One of these projects will be called The Sereno by The Bonanza, on a seven-rai site on Chaeng Watthana Soi 15.

The group bought the land from Bangkok Bank a decade ago for 100 million baht.

The 500-million-baht project will comprise 79 three- and 3.5-storey townhouses priced from 5.4 million baht.

Construction will start next month for completion in early 2015.

Nalinrat Chareonsuphong, managing director of the property consultant Nexus Property Marketing Co, which manages sales and marketing for the project, said the supply of townhouses priced above 5 million baht in the Chaeng Watthana area is limited.

This plot is also feasible for condominium projects but there are already many condos in this area, while townhouses have room to grow, she said.

There are 500-600 townhouses in the Chaeng Watthana area, with a take-up rate of 50%.

Most are priced only from 3-5 million baht but located on farther sois, even out into Nonthaburi.

Chief executive Songkran Taechanarong said the group plans to develop a single house project in the middle-to-high-price segment on Chaeng Watthana Road.

In Nakhon Ratchasima province, Bonanza will launch phase two of its Momento Khao Yai single house project along with a small-townhouse project of vintage design this year.

Khao Yai remains hot, with land prices rising by 15% since last year, said Mr Songkran.

Launched last December, the 975-million-baht Momento Khao Yai has since sold 70% of its units for 400 million baht.

The group two months ago also began a 10-million-baht renovation of its 100-rai Bird Zoo in Bonanza, which closed during the 2004-05 bird flu epidemic.

Opening by year-end as the Bonanza Exotic Zoo, it will feature imported exotic animals.