Sena Hankyu unveils its flagship project for the first time "PITI Ekkamai" a new luxury condominium project valued at over 5 billion baht that transforms residential living with a new model focused on world-class services, catering to urban customers. Knight Frank analyzes the Ekkamai location, indicating that the purchasing power of both Thai and foreign customers remains strong.

         Assoc. Prof. Dr. Kesara Thanyalakphak, Deputy CEO of Sena Development Public Company Limited revealed the flagship project "PITI Ekkamai", the first luxury segment condominium under a joint venture with Sena Hankyu Co., Ltd., and the highest valued joint venture project this year at over 5 billion baht, located in the prime area of Ekkamai. The project incorporates the Japanese life philosophy concept of "IKIGAI" into every detail, under the concept "Good Living is The New Luxury" , blending products and common areas to create a unique living space that perfectly aligns with the lifestyle of Thai residents, situated in a quality location where every moment of every day is a joyful and valuable life experience, featuring over 1,900 square meters of common area, the largest in Ekkamai.

         The project "PITI Ekkamai" aims to provide a complete living experience, ensuring every moment of joy and value, as follows:

- Functional designs that cater to every aspect of happy living The project is located in the heart of Ekkamai (near Soi Ekkamai 26), featuring a 37-story building with a total of 879 units and 3 retail units, offering 1-bedroom units ranging from 29 to 40 square meters and 2-bedroom units from 51 to 64 square meters, with an average price of 170,000 baht per square meter or 4.45 million baht per unit. Construction began in 2019 and is expected to be completed by 2021.

- Unique location on prime land in Ekkamai This area checks all the boxes for those seeking a condominium, as it is a prime area with a modern lifestyle and high-end businesses, catering to both Thai and foreign residents, including Park Lane Community Mall, Health Land, Gateway Ekkamai, Big C, and nearby hospitals such as Camillian Hospital and Samitivej Hospital Sukhumvit, as well as leading educational institutions like SP International Kindergarten and Ekkamai International School.

- Outstanding common areas on the 37th floor, over 1,900 square meters the largest and most functional in Ekkamai, equipped with complete and perfect amenities, including Sky Fitness, saltwater swimming pool with panoramic views, kids' pool, jacuzzi pool, hydro pool, boxing zone, yoga zone, golf simulator, library, spa, sauna, steam room, tree house, sky park, ikigai room, and leveling lawn.

- Unique architecture of the "Third Place" new landmark in Ekkamai featuring a convenience store, restaurant, Casa Lapin coffee shop, co-working space, and Digital Services: Wash Box, Smart Locker, Vending Machine, Refun (plastic bottle recycling machine).

- Exclusive high-level services such as Midnight Reception and Butler Service, Laundry Service Shop, Parking Guidance Systems, Access Control.

- Advanced technology with a 360-degree application specifically for PITI Ekkamai customers enhancing convenience with services like fixzy for home maintenance and repairs by professionals, Shuttle Car Service, Feeder Service, and Smart Locker available 24 hours with notifications via the application at any time.

- The most parking spaces in Ekkamai accounting for 70% (612 spaces)

Mr. Phanom Kanjanateamta, Managing Director of Knight Frank Chartered (Thailand) Co., Ltd., discussed the condominium market in the Thonglor-Ekkamai area, covering the area from Sukhumvit Soi 55 to Sukhumvit Soi 63. Research shows that there has been a cumulative supply in this area from 2008 to the first half of 2018 totaling 6,112 units, with 2011 being the peak year for new supply entering the market at 1,268 units, a growth of over 365% compared to 2008. However, new supply between 2012 and 2014 stabilized at an average of 330 units per year, dropping to a low of just 88 units in 2015. The market revived again in 2016-2017 with an average of 914 new units per year.

          In the first half of 2018, 220 new condominiums entered the market, as most developers planned to launch new projects in the second half of the year, expecting no less than 2,800 units to gradually launch within the year. If this happens, the total new supply for 2018 will reach 3,000 units, the highest in 11 years. Notably, over 40% of the new condominiums will be in the Ekkamai area, indicating a clear confidence from developers in this location, which continues to show increasing potential due to various supportive factors, including a location surrounded by complete amenities, and being not far from Thonglor, while the prices remain more accessible.

          Demand for condominiums in the Thonglor-Ekkamai area has been well received by both Thai and foreign buyers. Projects launched between 2008 and 2016 have sold out completely, while projects launched in 2017 and the first half of 2018 currently have average sales of 70% and 35%, respectively. The reason for the less impressive sales of new projects in the first half of 2018 is believed to be due to buyers waiting to see new projects launching in the second half for comparison before making decisions. The average selling price of new projects in the Thonglor-Ekkamai area (as of the end of June 2018) is approximately 248,000 baht/sq.m., with Thonglor averaging about 317,000 baht/sq.m. and Ekkamai averaging about 180,000 baht/sq.m.

          Source: Knight Frank Thailand

          Nevertheless, the Thonglor-Ekkamai area remains one of the most promising locations on Sukhumvit Road, supported by various factors, including its central location with multiple access routes by private car, BTS sky train, and various public transport options. Moreover, the small alleys in Thonglor-Ekkamai facilitate access to major roads and various alleys, including the main Sukhumvit Road, Rama 4 Road, Phetchaburi Road, Si Rat Expressway, Chalong Rat Expressway, and Sukhumvit Soi 49, 51, 53, and 71 (Pridi Banomyong). This makes the area convenient for both car owners and those who prefer public transport. In the future, when the Gray Line (Wacharapol-Thonglor) opens, it will further enhance transportation in the Thonglor-Ekkamai area, significantly increasing the value of the location.

          For those interested, you can visit the project and sample rooms to experience the elevated living defined by "Good Living is The New Luxury" through the Japanese life philosophy of "IKIGAI". Visit us today for more details at http://bit.ly/2tPEUtO or call 1775, press 63.

Thank you for the information from www.sena.co.th