The grand return of the legendary condo brand ‘The Address’ in the highly valuable location of ‘Siam-Ratchathewi’

Highlighting 3 key design principles crafted from understanding to deliver an experience and aesthetic of living that meets every detail of an elevated lifestyle, reflecting the pride and unique taste of residents

Location connects all journeys, just 150 meters from Ratchathewi BTS with starting prices around 200,000 Baht/sq.m.

 

 

Bangkok (April 29, 2019) – Today, AP (Thailand) Public Company Limited as a leader in real estate development and living innovations is confident in the continuous growth of the real estate market in Q2, especially in the upper-end housing segment. The company is set to make history with the first launch of a condo targeting the ‘Prestige - Lux’ segment, marking the grand return after 8 years of the legendary condo under the brand The Address, named “The Address Siam – Ratchathewi”, with a total project value of over 8.8 billion Baht. Crafted from an understanding of elevated living, filled with quality in every aspect, delivering a complete aesthetic of living in a unique location in the Siam area connecting Ratchathewi under the concept “Living the Prestige - Crafted for Elites.” The design is aimed at a Prestige - Lux quality of life with a starting price of approximately 200,000 Baht/sq.m., officially launching on June 8-9 at the Sales Pavilion of The Address Siam – Ratchathewi project.

Mr. Witakarn Chanthawimon, Deputy Managing Director of Corporate Strategy and Innovation at AP (Thailand) Public Company Limited stated, "The real estate market in Q2 is expected to continue growing, especially the demand for upper-end products remains strong. Under the strategy for long-term growth in Q2, the company is ready to make a new historical move in the upper-end condo market, elevating the development of projects to meet the demand of the Prestige - Lux segment with the return of the The Address brand. After the Vittorio ultra-luxury condominium has been continuously popular, being the only ready-to-move-in project priced at 350,000 Baht/sq.m. in Sukhumvit 39, which has successfully closed sales and is expected to complete the transfer within this year as planned."

 

 

“Moreover, this is a continuation of the legendary success of the products under the brand The Address in the past 9 projects, which are still talked about today, both in terms of ‘value’, the meticulous design that combines high art from both Western and Eastern styles into the lives of upper-class urban dwellers beautifully and uniquely, on the best ‘location’ that is highly sought after and a source of pride in ownership, and the ‘value’ that has increased in all 9 projects with an average price growth rate of 40%, akin to a collectible that can be passed down through generations,” Mr. Witakarn said.

“For over 8 years, AP has been searching for land in the city center that is rich in value and quality, accumulating experience in understanding customers to enhance design and craft every element to respond to the experience of elevated living, filled with quality ready to deliver a complete aesthetic of living in every square inch, thus creating The Address Siam-Ratchathewi project that will set a new standard for the upper-end condominium market,” Mr. Witakarn added.

The Address Siam – Ratchathewi is crafted with attention to detail reflected in every aspect, achieving excellence from inspiration drawn from the classic palace architecture of France, combined with the unique beauty of Thai craftsmanship in an exquisite blend, prioritizing every detail to fulfill the highest aesthetic of living with 3 key highlights: (1) SOPHISTICATION DESIGN AP aims to create from the exterior design to the interior, with special room designs featuring cantilevered areas that extend out to enhance views of the beautiful scenery in the heart of Ratchathewi, while also increasing the aesthetic of living in a high-rise building that provides a special feeling of spaciousness, grandeur, and luxury within the rooms. The common areas are meticulously designed for elegant indoor and outdoor use, allowing residents to enjoy the aesthetic of living that encompasses not only visual beauty but also the sounds of nature, such as flowing water and the breeze rustling through the trees in the botanical garden, featuring fragrant Thai flowers like jasmine and bergamot. (2) BEST QUALITY & FINEST MATERIALS The materials used in the project are selected from the best manufacturers and sources worldwide, reflecting the meticulousness of living, whether it’s the limestone, a special white stone that shines under sunlight at different times, sourced from Portugal for the building's façade, custom-made furniture that serves as the project’s signature with peacock patterns reflecting elegance and sophistication, Kinesis exercise equipment from Technogym in Italy that allows users to exercise freely, and the selection of fabrics from top global brands reflecting luxury and uniqueness used in the interior decoration of common areas, etc. (3) PRECIOUS LOCATION The Address project is located in a highly valuable and quality location in the city center, on the best land position in the Siam area connecting Ratchathewi, just 150 meters from Ratchathewi BTS station and not far from Phaya Thai Airport Link, close to major business centers, shopping, lifestyle areas, and educational institutions.

 

 

“In terms of the overall market for upper-end condominiums in locations adjacent to the BTS line at Siam – Victory Monument over the past 5 years, there have been 13 projects launched in the area, divided into 7 luxury projects (150,000-190,000 Baht/sq.m.) with an average sales rate of 55%, 5 super-luxury projects (200,000-300,000 Baht/sq.m.) with the best response rate, averaging 89%, and 1 ultra-luxury project with a sales rate of 56%. Therefore, to penetrate the demand for the super-luxury segment that continues to grow positively in the market, AP intends to create a new historical moment by elevating development to craft distinctive projects targeting the Prestige - Lux sub-segment of Super - Lux, as super-luxury condos currently in the market may no longer suffice with just a good location; the key factor customers seek is an aesthetic of living that meets every detail, reflecting superiority in every dimension, including meticulous design, quality material selection, in the best location of the area. Thus, with the project’s highlights of The Address Siam - Ratchathewi, both the excellent location that is desirable and rare, every square meter in the project is designed to accommodate every detail of an elevated lifestyle, reflecting the pride of ownership and the ability to manage a price package that meets the real demand in the Siam - Ratchathewi area, which can create value for living and future investment, will certainly create a difference and receive a good response,” Mr. Witakarn concluded.

The Address Siam – Ratchathewi is a joint venture between AP and Mitsubishi Estate Residence (a subsidiary of Mitsubishi Estate Group - MECG) located on a 3-1-55 rai plot of land with a condo that is rich in quality in both location and design in the heart of the urban lifestyle area, distinguished by architectural design that clearly reflects the unique identity of the residents. The project value is 8.8 billion Baht, consisting of a 50-story residential building with a total of 880 residences, smartly arranged on each floor to avoid obstructing views from each residence, offering 5 types of residences for residents to choose from that match their lifestyle: 1) 1-bedroom units sized 31 - 35 sq.m. 2) 1-bedroom (duplex) units sized 50 sq.m. 3) 2-bedroom units sized 51- 68 sq.m. 4) 2-bedroom (duplex) units sized 65 sq.m. 5) 3-bedroom units sized 85 sq.m.

In summary, for the overall business plan in 2019, AP plans to launch a total of 39 new projects valued at approximately 56.8 billion Baht, divided into 5 condominium projects valued at 22.4 billion Baht and 34 horizontal projects valued at 34.4 billion Baht. In the first quarter of 2019, 8 projects valued at 13.22 billion Baht have already been launched, and there are plans to launch a total of 13 new projects in the second quarter of 2019 valued at 19.72 billion Baht, including 9 townhome projects valued at 8.56 billion Baht, 3 single-detached house projects valued at 2.36 billion Baht, and 1 condominium project (The Address Siam-Ratchathewi) valued at 8.8 billion Baht. In the second half of the year, AP plans to launch another 18 new projects valued at 23.86 billion Baht.

As for the sales summary for the first quarter (March 31, 2019), AP achieved a satisfactory total sales value of over 12.585 billion Baht, divided into condominium sales of 6.365 billion Baht and horizontal sales of 6.220 billion Baht, resulting in the company achieving 30% of its sales target for 2019 (sales target of 41.8 billion Baht). The company has a backlog of projects worth a total of 58.96 billion Baht, consisting of horizontal projects valued at 11.14 billion Baht, which is expected to be recognized entirely within this year, and condominiums including joint venture projects valued at 47.82 billion Baht, divided into AP condominiums valued at 6.53 billion Baht, which will gradually be recognized this year at approximately 3.395 billion Baht, and joint venture condominiums valued at 41.29 billion Baht, expected to be recognized this year at approximately 7.75 billion Baht, with the remainder to be recognized until 2026.

“AP Thailand dares to be different, a leader in innovation for urban living”

 

Thank you for the information from www.apthai.com