Potential buyers and investors view the concept
model for the new Peaks Avenue development on Chang Klan Road.
Chiang Mai Mail reporters
The newest development to hit Chang Klan Road is the new low rise
luxury condominium by Saha Asia Pacific Co. Ltd.; Peaks Avenue. The
development is scheduled for completion by the end of 2014 and will cover
around 1 acre. The 5 story building will have 28 units. Unit areas are
between 80 – 200 sqm., priced at 100,000 baht per square meter. The project,
which will be fully furnished and is being done in a renovated building, is
valued at 300 million baht and will target high end customers and long stay
foreigners who expect quality construction.
Saha also plans to build a mixed use development in Mae Sot or Chiang Rai.
It will contain a community mall and condos or serviced apartments. That
project is valued at 500 million baht.
Teerawut Klomlaew of Saha Asia Pacific Co., Ltd. and the manager of ‘Peaks
Avenue’ project said that Saha Asia Pacific Co., Ltd. is an affiliate of
Saha Pathanapibul. Chiang Mai is the first province that the company has
invested in the past 4-5 years; they found that Chiang Mai has great
potential for real estate investment. Chiang Mai is developing as a hub of
health care and has seen a steady growth of tourists as well as long stay
The customer target is 51% Thai and 49% foreign owned with many investors
from Singapore and Hong Kong already interested for investment while
European and Japanese tend to buy to live in during their retirement.
The next project which is planned is the ‘Peaks Chang Klan’, the company is
currently looking for 10 rai of land on Chang Klan Rd. around 10 rai. The
project will comprise 2 floors with a community mall, Japanese language
school, and condos or small serviced apartments with a large green space.
The investment budget is expected to be around 500 million.