Viman Surya Co., Ltd., the developer of <\/strong><\/span>Dusit Central Park, a world-class mixed-use project <\/strong><\/span>under the concept Here for Bangkok, and the developer of The Residences at Dusit Central Park, the best ultra-luxury residential project in the Super Core CBD, has partnered with UOB Thailand and CBRE Thailand to host the event Timeless Wealth: A Long-term Investment in Ultra-luxury Residences. According to CBRE statistics, super-luxury condominium projects in the Branded Residences format have a sales rate of 90%, with rental units yielding an investment return (Yield) of up to 7.9% per year.<\/span><\/p>

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Mr. Lhaio Koawisarach, CEO of Viman Surya Co., Ltd., the developer of Dusit Central Park, a world-class mixed-use project <\/strong><\/span>under the concept Here for Bangkok and the developer of The Residences at Dusit Central Park, the best ultra-luxury residential project in the Super Core CBD, stated, “The Residences at Dusit Central Park has studied the trends in the real estate market, particularly ultra-luxury urban residences, and developed a project that meets customer needs, achieving over 85% sales during construction by focusing on the design of usable space, diverse room types, and sizes suitable for both Thai and foreign buyers. This reinforces our commitment to developing a superior project aligned with the direction of the ultra-luxury real estate market. Therefore, we organized the seminar Timeless Wealth: A Long-term Investment in Ultra-Luxury Residences in collaboration with key partners UOB Thailand and CBRE Thailand to provide information for long-term investment in ultra-luxury residences – Branded Residences that can generate sustainable returns.”<\/span><\/p>

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Certainly, <\/span>Dusit Central Park is one of the most anticipated mixed-use projects, <\/strong><\/span>especially with its key component, <\/span>The Residences at Dusit Central Park, <\/span><\/strong>which offers an attractive lifestyle through unique design. This 69-story residential building features 406 units, divided into “Dusit Residences” starting from the 30th to the 69th floor, with a Classic Luxury contemporary style that is calm and warm like a large home, yet intricately designed with Dusit Thani's signature details, focusing on <\/span>large 2-4 bedroom units and penthouses, with usable areas ranging from 118 to 900 square meters.<\/span><\/strong> <\/span>

Featuring stunning views of the lush greenery of Lumpini Park, “Dusit Parkside” starts from the 9th to the 29th floor, showcasing a contemporary Lifestyle Luxury design that is luxurious yet modern and sleek, catering to the vibrant urban lifestyle. It offers 1-2 bedroom units and Special Units with usable areas ranging from 55 to 250 square meters, complemented by the Gracious Hospitality service from Dusit Thani, a key icon of Thailand, to provide the best services for all residents and a lifestyle living experience with a shopping center (Central Park), rental office buildings (Central Park Offices), and a 5-star hotel, Dusit Thani Bangkok, which opened on September 27.<\/span><\/p>

All buildings offer unobstructed views of Lumpini Park, with another highlight being the Roof Park, a large green space of over 7 rai (11,200 square meters) designed to connect seamlessly with Lumpini Park, providing versatile areas for enjoying views, recreational activities, and exercise.<\/span><\/p>

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Regarding current housing demand, <\/span>Ms. Atthaya Kasemlawun, Head of Residential Project Sales at CBRE Thailand, <\/span><\/strong>revealed, “The overall residential market in the first half of 2024 shows continuous growth, with super-luxury condominium projects in completed downtown locations achieving an average sales rate of over 93%, particularly in the Central Lumpini and Silom-Sathorn areas, with sales rates of 96% and 94%, respectively. Meanwhile, projects under construction have super-luxury condominium sales reaching 86%, higher than other segments in the same area. A detailed examination reveals that super-luxury residences managed by five-star hotel chains, or Branded Residences, have an average sales rate of 90%. In terms of investment, these types of residential projects yield higher returns than other segments.<\/span><\/p>

The factors contributing to the success of these projects include <\/span>prime location, usable space that truly meets living needs, design adhering to brand standards, contemporary design, five-star service, and comprehensive amenities. Projects with all these elements are limited in number, making them highly sought after in the rental market. Currently, 90% of tenants are foreigners, while 10% are Thai. Therefore, when considering the rental market in the Super Core CBD and this segment, there is high demand from tenants seeking the best residences that meet their needs in terms of both the project and service, enabling investment returns (Yield) of up to 7.9% per year. Additionally, compared to other CBD locations, this area can command rental prices of up to 2,000 THB per square meter.”<\/span><\/p>

Mr. Kulchat Janthawimon, Senior Executive Vice President of Business Development at UOB Asset Management (Thailand) Co., Ltd., <\/strong><\/span>provided insights, “Currently, the Thai economy continues to face challenges from both domestic and external factors, which may impact investment portfolios. Therefore, it is advisable to divide investment funds to accumulate and grow wealth in the long term into two parts: the Core Portfolio, which involves active management strategies with high flexibility through a systematic Risk-based approach to diversify investments across various assets, including stocks, bonds, commodities, and emphasizing risk control. The Satellite Portfolio involves investments in growth stocks, bonds, and alternative investments, such as funds with strategies for trading major global currencies, property funds, and real estate investment trusts (REITs), or purchasing real estate projects for rental purposes, etc.<\/span><\/p>

UOB Thailand offers home loans for affluent clients (Privilege Banking) looking to purchase real estate, providing special interest rates and services. The bank has various types of home loan products, including UOB Cash to Home – a multipurpose home loan that uses unencumbered assets as collateral to request funds according to customer objectives under the bank's conditions. To ensure clients receive advice from financial experts and manage their finances confidently, the bank is ready to provide comprehensive financial transaction advisory services. For more information, please contact any UOB branch.” Note: Borrow only what is necessary and repayable. The current effective interest rate for UOB home loans ranges from 6.13% to 7.15% per year.* <\/span><\/p>

The effective interest rate for UOB Cash To Home currently ranges from 7.21% to 7.29% per year.* *These interest rates may change according to the bank's promotional interest rates at that time. The calculation assumptions are based on the MRR interest rate as of October 4, 2023 = 8.80% per year. Floating interest rates may increase or decrease. For detailed calculations and additional product information, please visit the bank's website.<\/span>www.uob.co.th<\/span><\/a><\/p>

“However, from the seminar Timeless Wealth: A Long-term Investment in Ultra-Luxury Residences, it was found that the Thai real estate market in 2024 still shows a clear growth trend in the Branded Residences segment, which is in high demand among both Thai and foreign clients. The condominium project The Residences at Dusit Central Park will be a significant project that can meet the needs of the high-end market with the potential to create long-term value and elevate the standards of ultra-luxury residential projects in Thailand both now and in the future,” Mr. Lhaio concluded.<\/span><\/p>