Major Development is set to deliver the low-rise condominium project 'Maestro 19 Ratchada 19-Vipha' (MAESTRO 19 RATCHADA 19 - VIPHA), comprising a total of 560 units valued at 1.7 billion baht, to customers for occupancy starting today. It is expected that by the end of this year, the project will achieve a 100% transfer rate, indicating strong customer response with current sales reaching 70%. The company is pleased to report that 95% of the quota for foreign buyers has been filled, generating 1 billion baht in foreign sales. Additionally, the company plans to gradually deliver 7 more projects this year, confident that sales will meet the target of 11 billion baht.

         Ms. Phetlada Poonwaralak, Executive Director of Major Development Public Company Limited, revealed that the company is ready to deliver the fully furnished low-rise condominium project 'Maestro 19 Ratchada 19-Vipha' (MAESTRO 19 RATCHADA 19 - VIPHA) with a total of 560 units valued at 1.7 billion baht for customer occupancy starting today. This project is the largest of the Maestro Residences brand, located in the heart of Ratchada, just 650 meters from the MRT Ratchadapisek, with access from three main routes: Ratchadapisek Road, Vibhavadi Rangsit Road, and Ladprao Road. This is the first condominium project of the year to deliver residential units to customers, and it is expected that by the end of this year, the project will achieve a 100% transfer rate. During the delivery period, the company is also offering a promotion with no transfer fees to provide special benefits to customers and expedite the transfer process.

         “Maestro 19 Ratchada 19-Vipha has received a positive response from customers, with current sales reaching 70%. This is divided into 90% for personal residence and 10% for rental purposes. The project has gained popularity among both Thai and foreign customers, with Thai buyers primarily being office workers and executives from the Stock Exchange of Thailand building, AIA Capital Center, and Muang Thai-Phatra building. Meanwhile, foreign buyers have filled 95% of the quota, amounting to 1 billion baht in foreign sales, with most purchases made by Chinese nationals working at the Chinese embassy,” said Ms. Phetlada.

         Regarding the potential of the Ratchadapisek area, it is expected to continue growing, especially after the opening of the Green Line electric train from Mo Chit to Saphan Mai-Khukhot in 2020 and the Yellow Line from Ladprao to Samrong, which is set to open in 2021. It is anticipated that land prices will increase in line with the area's growth, with an average annual increase of 10-15%. Currently, land prices range from 400,000 to 700,000 baht per square wah. Due to this potential, the selling price of the Maestro 19 Ratchada 19-Vipha project is currently at 110,000 baht per square meter, reflecting a 10% increase from the pre-sale price of 100,000 baht per square meter.

         Ms. Phetlada concluded by stating that the company currently has a backlog of approximately 14 billion baht, which will be recognized as revenue continuously from this year onwards. This year, there are 7 more condominium projects scheduled for delivery to customers, including MIELER Sukhumvit 40, MUNIQ Sukhumvit 23, Marvest Hua-Hin, Metris Rama 9-Ramkhamhaeng, Metris Ladprao, MARU Ekkamai 2, and Maru Ladprao 15. All projects will deliver residential units to customers on time, ensuring that they receive high-quality projects that meet standards, which is a commitment that Major Development has always upheld, resulting in customer trust and confidence in the brand. Therefore, we are confident that this year's sales will meet the target of 11 billion baht.

 

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