A survey found that 10 condominium projects had been launched since the beginning of last year on Phaholyothin Road, from the Lat Phrao junction through to Victory Monument.

They comprise some 10,000 units in total, worth more than Bt50 billion.

Most of them offer units starting in the region of Bt1.9 million apiece and have been developed by listed property companies including Pruksa Real Estate SC Asset Corp, Noble Development, Sansiri and Land & Houses - and by one non-listed company.

The projects have experienced successful sales because of their location close to BTS Skytrain stations, namely, Ari, Saphan Khwai and Sanam Pao.

Unlisted D'Well Grand Asset is one of the latest companies to launch a condo project in the area, with its D'Memoria Phaholyothin 8 near Ari station targeting working people.

The project has already sold 40% of its value of Bt580 million. It comprises 123 units at a starting price of Bt3.3 million apiece.

Managing director Thavanan Tanesdechsundhara said he was proud of the D'Memoria Phaholyothin 8 and confident of its complete success, given that it is in the inner business area near Ari Skytrain station.

The concept of the development is to tap the new-generation target group, members of which have a modern lifestyle, yet love nature and tranquility and enjoy private leisure, he said.

The project is a low-rise building with only eight storeys. The concept features a design which reflects the aesthetics of harmony under the new idea in Thai architecture - the art of recreation for real happiness - he added.

Since holding an exclusive presale at Villa Ari in mid-November, with a promotion of a 10-per-cent down payment and a discount of up to Bt100,000, more than 50 units have been sold.

D'Well Grand Asset is strongly confident that sales will reach 70-80% within three months of the launch, with a focus on direct marketing as the main strategy.

"Inner Phaholyothin - Saphan Khwai through to the start of Lat Phrao - is a high-potential business area," said the MD.

"From research and analysis, the location is ranked one of the top 10 business areas in Bangkok with the growth of vertical development. Currently, there are large office buildings with many sources of jobs.

"Definitely, following this is the development of condominium projects to support working people and people whose purchasing power is at the B+ level.

"Transportation is very convenient; that is, the road network, and proximity to the expressway and the mass-transit lines of the BTS Skytrain and the MRT. It is one of the favourite locations for developers.

"When we got this piece of land, we were very proud and determined to create a quality residential project in the heart of the city - in a shady environment close to nature, as the road is a soi where the housing is very private," he said.

D'Well Grand Asset aims to grow further in the property sector, developing projects with proficiency in design and a concept that matches the market in the present economic era, said Thavanan.

The developer considers unit size and location as the priority and uses a strategy of introducing niche products with simple, memorable and relaxing designs for its target group.

Its many proven projects to date include the d'65 Condominium, the d'25 Thonglor and the D'Habitat Ratchapruek low-rise housing project.