Dr. Apakorn Arttaboonwong, Chairman of the Executive Board of Richy Place 2002 Public Company Limited (RICHY), stated that the condominium market in Sukhumvit remains the most popular area in Bangkok. In 2018, 21 condominium projects were launched, totaling 6,500 units, primarily high-end and luxury developments, with an average selling price of 260,000 Baht per square meter.

The Ekkamai area is another promising location, second only to Thonglor, where condominiums currently average around 300,000 Baht per square meter. In contrast, Ekkamai condominiums are more accessible, averaging only 185,000 Baht per square meter. It is anticipated that the average price will rise to around 200,000 Baht per square meter in the future, attracting interest from both Thai and foreign buyers looking for personal residences, as well as investors seeking attractive rental yields averaging 4-7% per year.

Recently, Richy Place has pinpointed the Ekkamai area for its latest project, launching 'The Rich Ekkamai', a 37-story high-rise condominium on a prime location of 1-3-67 rai, adjacent to Big C Ekkamai and near the BTS Ekkamai station. The project emphasizes the importance of 'residents' and 'passion', designed to cater to the active lifestyle of its customers with comprehensive Active Facilities, including an Active Studio and a vivid spectrum pool sized for half-Olympic standards, located on the top floor offering a 360-degree view of Ekkamai.

The building's design features smooth curves for a relaxing feel, while the interiors of the units maximize usable space and include a ceiling height of 2.7 meters for a more spacious and comfortable environment. Units are fully fitted, with prices starting at just 4.79 million Baht, averaging 178,000 Baht per square meter, making it an attractive option for working professionals, both Thai and foreign, or for investment purposes.

There are three types of units available:

  • 1 Bedroom, sized 28-32 square meters
  • 1 Bedroom Plus, sized 34-36 square meters
  • 2 Bedrooms, sized 51-60 square meters

For the 'The Rich Ekkamai' project, interested customers can now register in advance to secure their choice of unit on VVIP Day, March 30. Those interested can click to register at www.therich-ekkamai.com  

Dr. Apakorn added that the overall real estate market this year is expected to remain stable due to positive factors, particularly the ongoing construction of various electric train projects that will boost purchasing power for residences along the train lines. However, negative factors such as the overall economic situation and unclear political conditions may hinder business in the first half of this year, while the high-end real estate market is not expected to face significant concerns.

This year, Richy aims for revenue of 2.6 billion Baht, with a total backlog of 3.793 billion Baht, including 1.468 billion Baht awaiting transfer from six projects, and 2.325 billion Baht from five projects currently under construction and partially sold. The total stock amounts to 12.042 billion Baht, with approximately 3.7 billion Baht ready for transfer from six projects and 8.332 billion Baht from five projects under construction and partially sold.

Additionally, there are plans to launch five new projects with a total value of 8.98 billion Baht, including three new condominium projects, a Senior Care project in collaboration with a Japanese company to provide elderly care services, and one new project. This year, the focus will remain on online marketing campaigns to stimulate sales alongside international marketing efforts, currently accounting for about 20% of sales, targeting customers from Taiwan, Singapore, Malaysia, and China who have purchasing power but are concerned about various risks. Nevertheless, Richy continues to adapt to changing trends by developing multilingual staff capable of serving international clients comprehensively to tap into new markets and close sales as quickly as possible.