Riesland Thailand, a Hong Kong-based real estate development group, is aggressively entering the attainable luxury market with the launch of CLOUD Thonglor-Phetchaburi, valued at 3.6 billion baht. This modern contemporary high-rise condominium is located in a prime area of the city, offering exceptional value for urban living. It features over 4,000 square meters of 'Triple Facilities' communal space, fully furnished, with prices starting at 3.5 million baht.

 

Mr. Zhang Lianggang, President of Riesland (Thailand) Co., Ltd., stated that the company is confident in the Thai real estate market, especially in prime locations. To date, the company has invested in two projects in Thailand, totaling over 11 billion baht. These include the Artisan Ratchada, a 34-story mixed-use building with 1,337 units valued at 6 billion baht, which has already sold over 80%. The project also includes 6,000 square meters of commercial space, with bookings exceeding 4,000 square meters. The second project, Lake Serene Rama 2, is a luxury single-family home development valued at 5 billion baht. This success demonstrates that Thailand can still expand its market effectively.

In 2019, the group aims to become a leading foreign real estate developer in Thailand, planning to develop projects across all segments, including mass, mid-range, luxury, super luxury, mixed-use, commercial buildings, and hotels within three years, targeting a growth rate of at least 50% annually in the Thai market.

 

This year, the company plans to develop two new projects worth over 7 billion baht. The latest is the CLOUD Thonglor-Phetchaburi, the third project in Thailand, a 55-story high-rise condominium with 661 units valued at approximately 3.6 billion baht. Prices start at 3.5 million baht, averaging 135,000 baht per square meter. Construction is set to begin in the third quarter of this year, with completion expected by the fourth quarter of 2022. Another project is planned for launch in the fourth quarter of 2019, valued at approximately 3.4 billion baht.

 

Mr. Nie Songqian, Director of Sales and Marketing for Thailand at Riesland (Thailand) Co., Ltd., mentioned that the CLOUD Thonglor-Phetchaburi project is the third development by Riesland in Thailand, designed in a modern contemporary style. It features a 55-story high-rise building with 661 units, meticulously selected quality materials, and designs that meet the demands of the Thai market. The highlight is the innovative communal space called 'Triple Facilities,' which has never been seen before, encompassing over 4,000 square meters, including an infinity pool with city views at a height of 202 meters, as well as various amenities such as a communal kitchen, children's activity room, co-working space, library, meeting room, fitness center, yoga room, jacuzzi, movie room, and children's pool. The units include five types: studio (24 square meters), one-bedroom (31.5 – 32.5 square meters), one-bedroom plus (37.5 - 38 square meters), two-bedroom with two bathrooms (54.5 square meters), and penthouses (80.5 – 102.5 square meters).

 

 

 

 

 

 

Ms. Aliwassa Patanathabutr, Managing Director of CBRE (Thailand) Co., Ltd., stated that in the current condominium market, there is still demand that is not being met for buyers who want to live in central locations but have limited purchasing power. This group has a broad base of potential buyers, primarily working individuals seeking convenient travel to save time and spend most of their time with an urban lifestyle.

Most developers are looking for alternative land in the city center that is cheaper than land prices near the BTS stations to develop products priced at around 150,000 baht per square meter. There are only two options: low-rise buildings in various sois of Sukhumvit or high-rise buildings along major roads, but in the areas surrounding central Sukhumvit (Outer Sukhumvit), including New Phetchaburi Road. With lower land prices, developers can create products with distinctive, modern designs and premium-grade materials, along with amenities at an affordable price, allowing residents to maintain their desired lifestyle in the city center. The location of CLOUD Thonglor-Phetchaburi is situated between Thonglor and Phrom Phong, on a 3-rai plot of land, easily accessible via Sukhumvit 55, Sukhumvit 39, Sukhumvit 33, and Sukhumvit 31, providing convenient access to Asoke and Sukhumvit, along with shuttle vans to MRT Phetchaburi and BTS Phrom Phong.

The CLOUD Thonglor-Phetchaburi project has been developed to meet the current customer needs, with CBRE understanding these demands in collaboration with Riesland, a well-known foreign developer. CBRE, with its extensive experience in the luxury condominium market, provides consulting on product development to ensure alignment with the concept, design, materials, and amenities that resonate with the target customer preferences and acts as the sales representative for the project.

“Therefore, we are confident that CLOUD Thonglor-Phetchaburi is the most valuable project for the Sukhumvit-Phetchaburi area, with pre-sale prices starting at 135,000 baht per square meter.”

The CLOUD Thonglor-Phetchaburi project will officially open for sale (pre-sale) on June 15-16 at the Park Hyatt Hotel, featuring special promotions at the event. Sample rooms can be viewed at the sales office. Interested parties can register for more information at https://bit.ly/2Pq0i2o