"Sevas Properties," a new real estate company formed through a Thai-Hong Kong joint venture, has launched its first luxury condominium project under the brand "Nivati" (NIVATI). This 7-story condominium features 52 units valued at 1.6 billion baht, with prices starting at 17 million baht. The company aims to continuously introduce new projects, both high-rise and low-rise, focusing primarily on luxury products.    The project highlights classic contemporary design and high-quality materials, targeting the Asoke to Ekkamai area.          Douglas Cheng, CEO of Sevas Properties Co., Ltd., stated that the company was established to develop Super Luxury real estate projects, with a shareholding ratio of 79:21 between Thai and Hong Kong investors. In the first five years, the focus will be on developing projects in the Asoke to Ekkamai area, covering both condominiums and villas, primarily targeting high-end consumers. The initial goal is to develop 2-3 projects per year, depending on market conditions, with an average project value of approximately 1.5 to 3 billion baht.

           "Asoke and Ekkamai are considered prime locations in Bangkok. Although the competition is quite high, we have the strength to combine top-quality materials and luxurious designs into reality. We also have experienced management and teams from both Thailand and Hong Kong who understand the market conditions and consumer demands well. With strict quality control measures in place, we are confident that we can develop products that meet consumer needs. In the next 10 years, we plan to expand into the ASEAN market," Douglas added.         

           For the first project, a new company named 888 Thonglor Co., Ltd. has been established to develop the Super Luxury condominium project under the "Nivati" brand. This project consists of 52 units in a 7-story building, valued at 1.6 billion baht, located in Thonglor, an area with high land value in Bangkok.         

           Viwat Pipak Samut, CEO of 888 Thonglor Co., Ltd., revealed that with over 30 years of experience in the construction business, he partnered with Douglas to establish the company. The company has clearly defined its target market to focus on high-end consumers both domestically and internationally in the Asoke to Ekkamai area, which has strong purchasing power and quality buyers. Even the tenants in this area are quality renters, making it a market with low risk and significant opportunities for new operators to capture market share.

           "While the market for condominiums priced at 1 million baht and above has many options, as a newcomer, I may not be suited to develop projects that dive into such a red ocean. Additionally, I am familiar with this area, having worked and hung out here, so I want to start here. Importantly, our team has been looking for land in this vicinity all along, and developing projects in this area pushes us to create luxury-level projects," Viwat stated. According to a study of the Thonglor area by Nexus Property Marketing Co., Ltd., as a marketing and sales consultant, it was found that         

           Supply in 2017 showed that developers remained confident in the continuous growth of the condominium market in Thonglor. Over the past two years, up to the third quarter of 2017, there were a total of 1,130 units available. Particularly in 2017, from the first to the third quarter, there were 4 new condominium projects launched, totaling 515 units, demonstrating developers' confidence in this location.

           Demand over the past two years, including the third quarter of 2017, indicated that newly launched condominiums in Thonglor sold approximately 671 units, or about 59% of the total 1,130 units, with an average monthly sales rate of 16 units, showing that the demand for units continues to grow.         

           In terms of pricing, the Thonglor area has seen developers focusing on Super Luxury projects over the past two years, with high competition. However, in 2017, both large and new developers began to show interest in developing low-rise luxury projects and premium high-rise projects, offering unique features and attractive pricing to consumers in the Thonglor market, which has an average selling price of 275,000 baht per square meter.

           The Thonglor condominium market has high rental potential, with average rental prices for luxury condominiums ranging from 1,000 to 1,200 baht per square meter per month. Many projects utilize this to stimulate sales of some units, which significantly helps buyers looking to invest, with the primary tenants being Japanese families working in Bangkok.         

           The "Nivati" project is a luxury condominium with 7 stories and 52 units, valued at 1.6 billion baht, with prices starting at 17 million baht and going up to 65 million baht, on a plot of land measuring 1-1-34 rai, located on Thonglor 23, an area that combines lifestyle with business districts, which is the charm that keeps Thonglor irresistibly appealing. The project concept focuses on Elegant Classic Contemporary design, emphasizing "Timeless classicism of architecture," providing a sense of timeless beauty. The project prioritizes the use of premium materials to create a luxurious feel, with both exterior and interior decorations reflecting high artistic craftsmanship. Every window and door features exterior wall materials made of cream-toned limestone, reflecting a classic yet contemporary feel, providing a luxurious and warm atmosphere for residents to recharge before stepping into the world of work and life with full energy.         

           The common areas are fully equipped with both functional and aesthetic living features, including a luxurious lobby, business lounge, swimming pool, fitness center, automatic underground parking for 78 cars, and 24-hour security. The selected materials are all high-end imports, such as kitchen sets from Poggenpohl, a top global kitchen brand, equipped with renowned appliances from Siemens and Dornbracht, and high-quality sanitary ware from Villeroy & Boch, along with high-end faucets and bathroom fixtures from Gessi imported from Italy, among others.

           The Nivati project consists of only 52 units to create a sense of privacy for residents, with options for 1-bedroom units starting at 70.80 sq.m., 2-bedroom units starting at 104.4 sq.m., 3-bedroom units sized at 178.9 sq.m., and duplex units sized from 110 to 221 sq.m. The project is set to begin construction in the fourth quarter of 2017 and is expected to be completed in the first quarter of 2019, managed by Nexus Property Marketing Co., Ltd. The official launch will take place at the VIP Sales event on September 16, 2017, at Grande Centre Point Thonglor from 10:00 AM to 6:00 PM, with special privileges available at the event.* Interested parties can find more information at www.nivaticondo.com or call 095-914-9888.



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