Risland Thailand a major global real estate development group from Hong Kong, announced its business plan for 2020, emphasizing the strategy 'Think Global, Act Local' under the concept 'Be the Change, Create the Future'. The company aims to lead change and build the future through trial and error, learning from the past to improve for future development. It reaffirms its strong financial position in the country with a Fitch Ratings AA rating, and plans to launch 4 projects worth over 20.9 billion baht, starting with the luxury project 'Cloud Residence Sukhumvit 23' valued at over 3.6 billion baht, seizing the opportunity in the luxury condominium market in Sukhumvit at an accessible price starting from just 5.99 million baht.

Mr. Nia Songqian, the Director of Sales and Marketing for Thailand at Risland (Thailand) Co., Ltd., stated that the real estate market in 2020 faces challenges on multiple fronts, including a global economic slowdown due to trade wars affecting many countries, including Thailand, and a continuously strengthening Thai baht. Additionally, the COVID-19 pandemic has further exacerbated the economic downturn.

However, the company remains confident in investing in Thailand. This year, Risland Thailand plans to launch 4 new projects worth a total of over 20.9 billion baht, consisting of 2 condominium projects and 2 mixed-use projects. The focus is on launching projects in high-potential locations with convenient transportation at affordable prices, catering to genuinely interested customers. We are confident in the company's financial position to withstand unfavorable market conditions long enough for the situation to improve, supported by a Fitch Ratings AA domestic financial strength rating, the highest credit rating among Thai real estate developers. Last year, Risland Thailand launched 2 projects, including Cloud Thonglor-Phetchaburi, which has already sold over 50%, and The LIVIN Phetkasem, which received significant interest with bookings from the first phase totaling 750 million baht, achieving sales of up to 700 million baht, resulting in total sales from these 2 projects exceeding 2.4 billion baht, Mr. Nia added.

Currently, Risland has real estate projects in 7 countries, totaling 15 projects, including the United States, New Zealand, India, the UK, Vietnam, and Thailand, with a total project value worldwide of approximately 100 billion baht. In 2020, Risland aims for global revenue to increase by 50%, promoting the strategy 'Think Global, Act Local' and operating under the concept 'Be the Change, Create the Future', daring to lead change and build the future through trial and error, learning from the past to improve for future development.

The project Cloud Residence Sukhumvit 23 is the first project launched in 2020 with a project value of over 3.6 billion baht. It is a 43-story high-rise condominium located in the heart of Asoke on Sukhumvit 23, a highly potential area close to both the BTS Green Line and MRT Blue Line, surrounded by lifestyle hubs, offices, hospitals, and numerous leading educational institutions. Coupled with continuously rising land prices averaging about 8% per year, the absorption rate remains high at 82%. According to surveys, luxury high-rise condominiums with one-bedroom units start at over 7 million baht, and the market still demands uniquely designed condos that maximize space using premium materials, with prices starting at just 5.99 million baht for the Cloud Residence Sukhumvit 23 project, effectively filling the market gap.

The Cloud Residence Sukhumvit 23 features a ready-to-move-in building with 1 tower, 43 stories high, comprising a total of 372 units. The exterior is designed in a modern style, making the building stand out as the tallest in the Sukhumvit 23 area. The interior is designed to provide a comfortable feel akin to staying in a hotel, with highlights including 3 interconnected floors of common areas or Triple Floating Facilities, covering nearly 1,400 square meters, equipped with complete amenities such as a swimming pool, jacuzzi, poolside relaxation areas, yoga room, sky lounge, co-working space, and meeting rooms. Additionally, there are over 1,000 square meters of green space.

The units come in 5 types:

  • 1 Bedroom: 29 - 30 square meters
  • 1 Bedroom Extra: 41 - 43 square meters
  • 2 Bedrooms: 57 - 60 square meters
  • Double Space: 47 - 95 square meters
  • Penthouse: 79 - 99 square meters

The official sales launch (FIRST CALL) will take place on March 20-21, 2020, at the sales office of Cloud Residence Sukhumvit 23, featuring special promotions at the event. Sample rooms will be available for viewing at the sales office. Interested parties can register for more information on the website http://www.cloudresidencesasoke.com/ or call 02 026 6888.

Ms. Maneekarn Isriyakosol, the Director of Marketing Strategy and Corporate Communication for Thailand at Risland (Thailand) Co., Ltd., revealed that the overall condominium market in the Sukhumvit area, valued at over 5 million baht, saw a decrease in new sales of 8,795 units from 19,691 units in 2018, with unsold units decreasing by 3% from 2018. In 2020, it is projected that the condominium market for units priced at 5 million baht and above will maintain a 17% market share, similar to the previous year. This indicates that the overall luxury condominium market remains viable, especially in the Asoke area, which has an absorption rate of over 82%, and with fewer new projects entering the market, this segment is receiving a favorable response.

Consumer behavior over the past 3 to 4 years has largely shifted towards purchasing condominiums for genuine residence, while investment purchases have decreased significantly. In the past 1-2 years, some investors and speculators have exited the market due to various factors, including the global economic situation and government policies directly impacting this customer segment. Additionally, younger consumers aged 25 to 35 prefer to purchase uniquely designed condominiums in the city center that align with their work and lifestyle, making luxury condominiums in urban areas a top choice for residential purchases.

The growth of tourism in Thailand has also been significant, with a high influx of international tourists, particularly from China, leading to over 30 million foreign tourists visiting Thailand annually over the past 3 to 5 years. This has resulted in many foreigners engaging in business and purchasing properties in Thailand, contributing approximately 37.561 billion baht annually in Bangkok alone, excluding investment purchases and other forms of rental investments. This necessitates a more nuanced understanding of consumer behavior, adapting to societal contexts and time, requiring the integration of various disciplines and extensive data analysis to understand current consumer behavior.

Thank you for the information: Risland (Thailand) Co., Ltd.