Tuesday, 15 September 2009

High-End Residential Property Project Development Process: A Case Study of High-End Residential Property Projects In Bangkok

In Thailand’s attractive cities such as Phuket, Pattaya and Samui, most high-end residential property products are developed by foreigners, large real estate companies from Bangkok and by local Thai developers who joint with foreigners for brand credit. All developers have already known this process but the key factors and particular property development process for this market is still ambiguous for local Thai developers.

It is impossible to provide the guideline for local Thai developers in order to promote their competitive potential without understanding the whole process of property development. Ms. Surangkana Trangkanont made a case study to investigate the high-end residential property project development stages to know the key factors of successful project are. Her three sub-objectives are to (1) investigate how the high-end residential property project development process is developed; (2) identify the significant keys in high-end residential property project development process; and (3) propose the high-end residential property project development process and significant keys the high-end residential property project development.

She found out that the project development process is one of the important issues for high-end residential property project. To be competent, the local investors and developers have to scrutinize on how the high-end residential real estate development project process is done. The high-end real estate project development process conducted feasibility study which is related to saleable area, source of fund and term of repayment, project cash in and out flow or project cost and revenue including project return rate. The more details of feasibility study, the more possible successful project is. The database of feasibility study derived from the developer company database or the results of marketing analysis in terms of project concept and absorption rate. If the result of feasibility studies satisfies the developer, the project concept will follow. Project master plan, project landscape, project facilities and amenities including project unit and project unit models are appeared on blueprint. The project management team is only emphasized on construction works and sale. However, the project management team becomes the most important when the project execution and control are run.

Her thesis abstract is copied and posted.

ABSTRACT

Currently, some major cities in Thailand become more attractive to prosperous people both Thais and foreigners. They want to live in there but the native developers fail to meet their needs. This is because the native developers lack of the high-end residential property project development process system. The research; therefore, firstly aims to investigate the high-end residential property project development process. Secondly, it aims to identify the significant keys in high-end residential property project development process.

Finally, the high-end residential property project development process and the significant keys of high end residential property project development are proposed. To be systematic investigation, the theoretical framework is created and become the roadmap of the research including which issues should be concerned. Next, the case study research methodology is conducted in order to comprehensive the high-end residential property project development process.

After that, five high-end residential real estate projects in Bangkok and perimeter are investigated their project development process. Each project development procedure of each project case study is compared to one another by using logic models and cross case synthesis technique in order to examine the project development process and draw the
phenomena respectively. The results of the research show the key parameters, factors and
influences of each project development procedure. Then, the high-end residential property project development process is proposed including the significant issues concerned by developer.

4 comments:

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