The Rama 9 area is Bangkok’s second central business district (CBD). With the main business district, the Sathorn financial district, having overcrowding issues, it made sense for many companies to set up their offices in the Rama 9 area. There are many condominiums in the Rama 9 area. This was in part driven by development plans in the area. Where the current popular Jodd Fairs is located was supposed to be the site of the Super Tower. That was supposed to be one of, if not the tallest building in Bangkok. However, this plan to develop the super tower was scrapped. The condominiums that were still slated to cater to the tenants of the Super Tower still proceeded. This is why there was an oversupply of condominiums in the area. This was the situation pre-Covid. Fast forward about half a decade later, the Rama 9 area is a financial hub. Unilever HQ is in the area. In fact, it is located right next to Jodd Fairs. Unilever is the number 1 consumer products company in Thailand. It owns brands like Breeze, Sunsilk, Knorr, OMO, Vaseline, Sunlight, Wall’s and Comfort. Apart from Unilever, the Thai headquarters of Huawei, the Stock Exchange of Thailand, AIA Capital Centre and the Chinese Embassy are also in the area.

Details about the development

Nue Epic Asok-Rama 9 is a freehold condominium by Noble Development Public Company Limited (Noble Development). The development consists of 4 towers. Towers A and B are 47 storeys, Tower C is 34 storeys and Tower D is 32 storeys. The development sits on a land of approximately 15 Rais of 24,000 square meters.

The development mix is as such:

1 Bedroom (M)：26.00 – 26.50 Sq.m.

1 Bedroom (L)：30.00 – 30.50 Sq.m.

1 Bedroom Plus：35.50 – 40.00 Sq.m.

2 Bedroom：45.50 – 53.90 Sq.m.

2 Bedroom Plus：76.00 Sq.m.

3 Bedroom 2 Bathroom：70.20 Sq.m.

3 Bedroom：83.00 – 100.80 Sq.m.

Where is the development located?

Location Map of Nue Epic Asok-Rama 9

The development is located on the side of Fortune Town. It lies along the main Rama 9 road. Do not be focused on the name Asok in the development’s name. If you are thinking that this development is close to Asoke BTS, it is not. You need to take 2 MRT stops south on the MRT line to get to Sukhumvit MRT station. This will allow you to connect to Asoke BTS and popular Terminal 21 mall.

The walk from Phra Ram 9 MRT Station to Nue Epic Asok-Rama 9

Nue Epic Asok-Rama 9 is located approximately 500 meters from Phra Ram 9 MRT Station. The walk to the MRT station is relatively unsheltered.

The journey from Nue Epic Asok-Rama 9 to Victory Monument

If you were to travel west bound on Rama 9 Road, you will be able to reach Victory Monument BTS Station which is one stop away from Phaya Thai BTS, two from Ratchathewi BTS and three from Siam BTS.

My thoughts about the development (selling points and investment potential)

Post pandemic, I have been stressing about how we need to only consider large, local Thai developers. Typically one that is listed on the Stock Exchange of Thailand. This is because the global economy is undergoing a slowdown. China included and especially. There are many Chinese developers in Thailand. These developers came into the market when the market was accelerating. They also came in because the mainland Chinese viewed property as a stable investment. However, a few years later, Mainland China and Hong Kong property prices have receded. This is especially true for Mainland China. Many Chinese have changed their perception for property investment back home.

Nue Epic Asok-Rama 9

Pricing 5/5

The prices start at THB 125,000 per square meter. This price was unheard of before the pandemic when prices were in excess of THB 200,000 per square meter. Prices start from about THB 4 million. One of the main reasons why the pricing is attractive is because it is located on the side of Fortune Centre rather than the side where Grand Central Rama 9 is located. If you purchase a THB 4.5 million unit and rent it out for THB 25,000, this will give a gross yield of about 6.7 per cent.

Nue Noble Rama 9, which is now sold out, is located on the Grand Central Rama 9. This is the reason for the 20 to 30 per cent higher per square meter pricing.

Here is a video of a walkabout around the Rama 9 area on the side of Grand Central Rama 9.

Location 4/5

I would very much prefer the development to be located on the side of Grand Central Rama 9. Major offices are on that side of the road. However, if this development were on that side of the road, I believe that Noble Development could sell units at a higher per square meter.

One thing to take note of is the horrible traffic in the Rama 9 area. The roads in this area are commonly congested. However, the fact that this area is congested supports the notion that this area is very centrally located. It is also well connected to the various key locations like the Asoke Area, Phayathai, Ratchathewi and if you take the MRT, reaching the Sathorn Financial District is rather swift.

I believe that if you are looking for a property in Bangkok for investment purposes, i.e., you are looking to rent out the property or sell the property after holding for a few years, then this is it. Retirement wise, I do not think many retirees will consider this area for the simple fact that this area is littered with large offices. The train lines are often congested.

Quality 4/5

I had previously mentioned that if you are purchasing from one of the large Thai developers, this should not be an issue. We have worked with Noble Development on countless occasions. Their defect liability period is typically 2 years and defects are usually resolved very swiftly.

p.s.I own and run a real estate company that specialises in dealing with Bangkok properties. Noble Development is a developer whose developments are being marketed by my real estate company. I also maintain a web portal InvestBangkokProperty.com where we list the various new project launches in Bangkok. The purpose of this review is to provide my thoughts and insights for buyers looking to invest in these developments.

Here is a video review of Nue Epic Asok-Rama 9.