Ananda Development Public Company Limited, a leader in condominium development near Bangkok's mass transit system, has launched a new business venture into the 'Serviced Apartments' market. This marks a significant step in collaboration with the world-renowned partner, The Ascott Limited. The company is set to unveil 4 new projects valued at over 10 billion baht, comprising more than 1,400 units in prime locations in the NEW CBD of Bangkok. The first project, Somerset Rama 9 Bangkok, is valued at 2.5 billion baht and includes 445 units. The company sees this as an opportunity for business expansion and a long-term income-generating investment, confident that demand will continue to grow, particularly among foreign clients, businesspeople, and tourists, who are the primary target groups.

Mr. Chanont Ruangkritya, CEO and Managing Director of Ananda Development Public Company Limited, stated that the company plans to expand its new business, 'Serviced Apartments', viewing it as a business model that can generate long-term revenue. Additionally, he sees growth opportunities in Thailand's tourism and business sectors, as Thailand remains a commercial hub in Southeast Asia, attracting tourists each year with its beautiful natural resources and cultural heritage. This trend suggests a continuous growth potential for serviced apartments. Recently, Ananda announced its partnership with Ascott, a leading luxury serviced residence operator globally, to enhance the standard of living accommodations.

The average occupancy rate of serviced apartments in all areas of Bangkok exceeds 74% and can rise to about 90% in certain locations. The central business district and areas along Sukhumvit Road are the most popular locations for foreigners working in Bangkok, with an average occupancy rate of around 80% due to convenient transportation and numerous amenities, including easy access to the BTS Skytrain.

Through this collaboration, the company is preparing to launch 4 projects worth over 10 billion baht, totaling more than 1,400 units. The first project is Somerset Rama 9 Bangkok, valued at 2.5 billion baht with 445 units, while the other 3 projects are in progress. All 4 projects are located in prime areas of Bangkok, and with Ascott's high standards and expertise in property management, both owners and residents can be assured of world-class professional services. These projects will stand out due to their prime locations, luxury quality, and professional management.

Somerset Rama 9 Bangkok, a globally recognized serviced apartment brand, features a high-rise building of 35 stories with 445 rooms, retail space, meeting areas, and complete amenities in the Rama 9 area, a new business district surrounded by office buildings such as the Stock Exchange of Thailand, Super Tower, AIA Capital Center, G Tower, Fortune Town, and The 9th Tower. It is also conveniently located near various amenities like Central Rama 9, Esplanade Cineplex, The Street Ratchada, and Rama 9 Hospital, with easy access to the MRT, just 100 meters from MRT Rama 9 and 200 meters from the Cultural Center MRT, and only one station away from the Airport Rail Link at Makkasan Station, providing direct access to Suvarnabhumi Airport.

Mr. Kevin Goh, CEO of Ascott, expressed, "We are honored that Ananda, one of Thailand's leading property developers and a pioneer in creating urban living spaces, has chosen Ascott to launch this residential project. Ascott aims to establish 14 locations in Thailand by 2023. Our global network serves nearly 100,000 corporate clients, which will help expand marketing opportunities for both Thailand's properties and Ascott's international marketing network. With Ascott's strong service capabilities combined with Ananda's expertise in international property development, we are confident that these 4 projects will mark the beginning of a highly effective partnership. This collaboration will reinforce Thailand's position as a key market in Southeast Asia and beyond. We are confident in achieving over 80,000 units sold this year, with a target of increasing to 160,000 units by 2023, and plans for operations in Thailand to exceed 1,600 units, doubling to over 4,300 units by 2024, including all 4 of our projects with Ananda. This will strengthen Ascott's leadership as the largest international residential project operator in Thailand."

Mr. Kevin further stated that "These 4 new serviced apartment projects from Ananda will increase Ascott's portfolio in Thailand to 21 locations or over 4,300 units across Bangkok, Pattaya, and Sriracha. Currently, Ascott operates over 43,000 serviced residences in major cities across the Americas, Asia Pacific, Europe, the Middle East, and Africa, with more than 29,000 units under development, bringing the total to over 74,000 units across more than 500 locations. Our six brands, including Ascott, Citadines, Somerset, Quest, The Crest Collection, and Lyth, currently cover over 130 cities in more than 30 countries worldwide." Mr. Kevin concluded.

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