"Ace Estate Group" Launches 'Arti Sukhumvit 71'

A condominium targeting the new generation with a location that connects lifestyle in the heart of Sukhumvit, under the concept Live Out Life

Pre-Sales open on July 20-21, starting at 2.69 million Baht

 

"Ace Estate Group" is advancing its real estate development projects in the city, recently launching the 'Arti Sukhumvit 71' project, a high-rise condominium located on Sukhumvit 71 Road, designed under the concept "Live Out Life... Live Your Life". It emphasizes a location that offers 'balance' - outstanding design - and an affordable price starting at just 2.69 million Baht, catering to diverse needs, targeting Young Adults aged 28-40 years. Plus Property, a leading professional in the country, is the marketing and sales consultant, with Pre-Sales scheduled for July 20-21, 2019.

Mr. Natthapol Jintana, Executive Director of Ace Estate Group Co., Ltd. revealed that the company's real estate development operations are conducted under the concept "Attentive Living Solution", ready to support the growth of the real estate market and the diverse needs of consumers. Therefore, the company develops residential projects by leveraging the knowledge, expertise, and long-standing experience of its executives and team in the real estate business, combined with a focus on understanding consumer behavior, market studies, and gathering information to develop projects that meet the needs and lifestyle of the target group as much as possible.

Recently, the company has launched the 'Arti Sukhumvit 71' project as a high-rise condominium on Sukhumvit 71 Road, 21 stories high, with only 115 units. It is designed under the concept "Live Out Life... Live Your Life", reflecting a lifestyle that is selective, decisive, and breaks free from traditional constraints, offering high privacy to residents with only 5-8 units per floor. Each unit is designed to maximize the use of glass to provide a full view of the outside, allowing residents to enjoy views of Sukhumvit and Phetchaburi roads.

In terms of residential units within the project 'Arti Sukhumvit 71', they are designed to accommodate diverse needs, ranging from studio units, 1-bedroom apartments, and lofts that offer more usable space, to 2-bedroom units and penthouses over 100 square meters. This project targets the new generation, suitable for individuals aged 28-40 years or Young Adults, with prices starting at 2.69 million Baht, totaling a project value of 525 million Baht. Construction is set to begin in the 4th quarter of 2019 and is expected to be completed in the 4th quarter of 2021, with Plus Property Co., Ltd. as the marketing and sales consultant.

In addition to its unique and distinctive project design, the 'Arti Sukhumvit 71' project also boasts a prime location on Sukhumvit 71, which offers 'balance' in many aspects. It is a location that is not crowded and is close to amenities such as offices, restaurants, shopping malls, schools, and supermarkets, providing convenience in transportation. Furthermore, the selling price of the 'Arti Sukhumvit 71' project is not excessively high, allowing residents to enjoy the Ekkamai and Thonglor areas just a few minutes away. Additionally, the project incorporates technology to enhance convenience in daily life, such as an Automatic Parking system, Nasket for ordering goods and services via Smart Display, Digital Door Locks, Smart Mirrors, and Smart Switches, starting at just 2.69 million Baht. Pre-Sales will be held on July 20-21, 2019. For more details, visit https://www.aceestate.co.th/condo/arti or call 081-999-7799

 

"In developing real estate projects, we always prioritize location first, as it significantly impacts the lifestyle of residents. Before starting any project, we have a team conduct field surveys, and the management team of ACE Estate also visits the site. Afterward, we analyze the information gathered, and Sukhumvit 71 is one of the most balanced locations," Mr. Natthapol emphasized.

Regarding Ms. Somsakul Limsootphan, Deputy Managing Director of Asset Management at Plus Property Co., Ltd., she stated that the 'Arti Sukhumvit 71' project is a condominium that meets the lifestyle needs of urban dwellers seeking convenience at an affordable price. With the potential of the location addressing various lifestyle needs, it is suitable for both those looking to buy for personal residence and those investing. This is evident from the increasing number of foreigners moving into this area due to the lower cost of living compared to Phrom Phong and Thonglor, while still having convenient access to the BTS.

Given the potential of this location, it can certainly attract demand from both Thai and foreign customers, targeting a ratio of 80:20 between Thai and foreign buyers. In developing this project, Plus Property has collaborated with Ace Estate as a partner involved from the project development stage, focusing on addressing customer insights. Understanding customer needs is crucial, as the target customer group is Young Adults, who are new working professionals with offices in the city, thus requiring convenience in travel and lifestyle. The project offers comprehensive facilities, with a pricing strategy that is accessible to the target group, aiming for 70% of buyers to be end-users and 30% investors.

In the past 5 years, land prices in the Sukhumvit 71 area have surged by 60%

Ms. Somsakul also commented on the changes in land prices in the Sukhumvit 71 area, stating that in 2018, the average land price was approximately 450,000 Baht per square wah, which has increased by 60% over the past 5 years, averaging over 13% growth per year. The rising land prices inevitably lead to an increase in condominium values in this area, with condominiums in this zone experiencing an average price growth of 11% per year, which is an interesting figure for both end-users looking for projects with future value appreciation and investors expecting good returns from annual price increases.

For condominium prices in the Sukhumvit 71 area, it is found that the price range of 100,000 – 150,000 Baht per square meter sells the best. Over the past 3 years, the sales rate of projects in this segment has exceeded the average sales rate in the area, as there have been no new projects launched and almost all old projects have been sold out, with an average sales rate of 95%. In terms of investment returns, the rental demand from both Thai and foreign tenants in this area shows an average rental yield of 5-7%.

Background: Ace Estate Group Co., Ltd. (ACE Estate) is a real estate group formed by individuals with over 10 years of experience in the real estate industry. Previously, each group had developed numerous real estate projects, including low-rise condominiums, single houses, and townhomes.

The formation of ACE Estate began with the KUUN Ratchaphruek project, a luxury single-house project that stands out for its comprehensive features in terms of function, design, location, innovation, and facilities.

The KUUN project is considered the starting point for ACE Estate, receiving a positive response as anticipated, with 100% sales in the second quarter. The project has also achieved significant success in various aspects, receiving a total of 7 awards at both national and international levels from the PropertyGuru Thailand Property Awards 2018 and PropertyGuru Asia Property Awards 2018.