Another interesting area in midtown is around Phaya Thai-Phahon Yothin, with a total supply of 13,595 units, of which 11,674 have been sold, representing a sales rate of 85.9%. This area is also seeing more office developments. One notable example is the plan by Pruksa Real Estate Plc to develop an office building for its own use. The 25-storey Pearl Bangkok is located in front of Phahon Yothin Soi 5 on the main road, with usable area of about 30,000 square metres.
Another new office building is Shinawatra Tower 4, which is located on Phahon Yothin Road next to Shinawatra Tower 1. The 24-storey building will have a net lettable area of 10,000 square metres.
The completion of these two office buildings will increase the demand for condominiums in the area. One such new development is The Monument Sanam Pao, which was launched during the first quarter of this year and reportedly sold out. Another is The Line at Chatuchak Station, which also was launched during the first half and sold out. Both projects are being developed by Sansiri Plc.