Aranyaprathet district in Sa Kaeo province on the Thai-Cambodian border is emerging as a choice destination for property development, as supply is limited and demand strong.

Launched just last Thursday, the 800-million-baht Park Aran will include the Park Aran Condo with 514 units worth a combined 550 million baht and Park Aran Boulevard with 62 shophouses worth 250 million baht. The shophouses are already sold out.

Thailand's Foreign Trade Department expects border trade will enjoy tremendous growth this year as neighbouring countries' purchasing power grows in line with their economic expansion.

This will boost the value of border trade by 11% to 1.05 trillion baht in 2014 from 946 billion last year, it said.

Among the top 10 border-trading provinces in terms of value, Sa Kaeo was ranked fourth overall n 2012.

But this eastern province 237 kilometres from Bangkok came in No.1 among the seven Thai-Cambodian border provinces, the others being Buri Ram, Surin, Si Sa Ket, Ubon Ratchathani, Chanthaburi and Trat.

In the first 10 months of last year, overall Thai-Cambodian border trade was worth 112 billion baht, up by 8.6% year-on-year.

Khlong Luek border checkpoint in Aranyaprathet generated the highest value for Thai-Cambodian border trade at 47.6 billion baht during that period.

For all of 2012, border trade value at this checkpoint was 52.5 billion baht _ exports totalling 45.85 billion baht and imports 6.65 billion for a trade balance of 39.2 billion baht, up by 34% from 2011.

The Sa Kaeo Provincial Centre lists four Thai-Cambodian border passes _ the permanent one at Khlong Luek and three temporary ones.

The temporary ones are Ban Khao Din-Ban kilometre 13 checkpoint between Sa Kaeo's Khlong Hat district and Sampov Loun district in Cambodia's Battambang province; Ban Nong Prue-Malai checkpoint between Aranyaprathet and Malai district in Banteay Meanchey province; and Ban Ta Phraya-Boeng Tror Koun checkpoint between Ta Phraya district and Banteay Meanchey's Thmor Pouk district.

Major exports are sugar, motors and parts, auto parts, milk, supplements, liquid dairy products, animal feed, petrol and other fuel, beer, tyres, drinks and cement.

Imports include cassava, petrol tanks, empty tanks, oil tanks, scrap metal (iron, aluminium and copper), electrical appliances and equipment, soybeans, cameras and photographic equipment, scrap paper and maize.

The high volume of border trade in Aranyaprathet recently attracted Natural Park Plc (N-PARK), an SET-listed, Bangkok-based developer that last Thursday launched the first-ever condominium project in Sa Kaeo.

"We're seeing trading volume rise in this border area, but residential supply is limited," said president and chief executive Nakorn Laksanakarn.

Residential supply near Rong Kluea Market, the largest Indochinese trading zone, available for sale includes shophouses at Indochina Market, which has launched a third phase after building 300 shophouses in the first two phases two years ago.

The unit price is 4 million baht, double that of those launched two years ago.

The project owner is also the owner of Tropicana Casino in Poipet, Cambodia.

Residential demand from both Thais and foreigners is very strong.

Foreign buyers include Cambodian, Vietnamese and Chinese engaging in the border trade in Aranyaprathet.

Mr Nakorn said there are no condominiums in the entire province, not even in Sa Kaeo town.

After buying 80 rai on Sri Phen Road opposite Indochina Market last year, the company plans four phases of condos and shophouses.

The first phase was launched last Thursday and comprises two eight-storey condo buildings with a combined 514 units sized 29-30 square metres and priced from 899,000 to 1.3 million baht apiece. Also included will be 62 shophouses priced from 2.99 to 4.3 million baht, already sold out.

Mr Nakorn said target buyers are not only traders in Rong Kluea Market but also foreigners working in Poipet casinos.

In all, there are 10,000 expats, mostly from China and the Philippines.

"Three commercial banks in Aranyaprathet have confirmed to us there are many billions of baht on deposit," he said. "Keeping money inside Thailand is safer."

And both the border trade and the property business will see even greater growth potential once the Southern Economic Corridor linking Thailand, Cambodia and Vietnam is completed.

On Jan 10, the National Economic and Social Development Board, the Industrial Estate Authority of Thailand, the Neighbouring Countries Economic Development Cooperation Agency and a team from Japan visited Aranyaprathet to survey potential border areas for development along the Sa Kaeo-Banteay Meanchey border.

Also under consideration by them is a Thai-Cambodian special economic zone.