Property Development on Ekamai

Posted by Greg

February 28, 2008

Property Report Magazine, November 2007

Recovering from the crash of 1997 has been a long and difficult road, but recover Thailand has. And, of course, along with a more robust economy comes a resurgence in the desire for prime living space; once again, the Bangkok skyline is populated with cranes and steel skeletons rising anew. There are a few tried and true locations around the Big Mango that are at the fore of development (and price) – Sukhumvit, Sathorn, Silom, Rama III among others – but what’s next?

Soi Thong Lo, a long-time favorite of developers with the desire to string words like ‘hip’ and ‘boutique’ after their properties, is getting pretty crowded. A motorcycle-taxi jaunt down the 2.4km road will take you past condos small and tall, shopping centers, grocery stores, hi-so hangouts and plenty of tiny sois filled with long-standing private houses that aren’t going to be selling their sweet-deal properties anytime soon. Most all of the available land has already been taken.

But despite being in the same area of town and nearly identical in terms of geography, Soi Ekamai has escaped the development rush that has put Thong Lo on the map. Despite being only 500 meters away, Ekamai prices are generally 15-25% lower than those on its better-developed cousin, a trend that surely won’t last for long. Along with an increasing amount of amenities, a host of new developments are popping up and promising to give Ekamai a large dose of property-development energy.

The Alcove

Although the full name is ‘The Alcove Thonglor 10”, this project is right next to Ekamai, as the 500m soi 10 connects the two bigger sois. The Alcove is a 23-storey project with 140 units. The lower floors will have studio, one and two bedroom units, while the upper levels will feature luxury three bedroom units and duplex penthouses. It will be one of the tallest buildings in the area. www.alcovebangkok.com

DLV Thonglor 20

Another property listed as a Thonglor development, but with easy access via Ekkamai soi 21, DLV is an 8-storey, 79 unit condo that strives to maximize living space. Boasting 11 different layouts in a variety of bedroom/bathroom/living room/work room combinations, the units range from 55-277 sqm. www.dalveythai.com/project.htm

The Charisma

A 23-storey development on the north end of Ekamai, the Charisma will contain 576 units that come in three styles: a 49sqm 1 bedroom; a 72sqm 2 bedroom; and a 112sqm 3 bedroom, with large living and dining room. www.instyleestate.com

Around Ekamai

Although relatively few developments are located on Ekamai right now, it’s an upcoming property hotspot that will see many more in the near future. The glitzy soi Thong Lo, running parallel to Ekamai, is a popular strip that’s full of trendy restaurants and shops, and quite a number of residential developments. The soi is very popular with young professionals, although this crowd is starting to see more options appear on Ekamai in the form of hip clubs and small but cozy restaurants. Most of the big banks have branches on Ekamai, and there are plenty of local markets and corner stores, not to mention the giant Big C, up near soi 10. Traffic has remained Ekamai’s biggest stumbling block in the past; at its best, it’s barely 4 lanes wide, a relatively small artery to handle traffic overflow from Thong Lo, not to mention traffic between Sukhumvit and Petchburi/Rama 9 roads, which appear on Ekamai’s south and north ends, respectively. Luckily, the Rama 9 expressway is not to far away, and the traffic jam-free Skytrain sits conveniently at the south end.

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