LPP has been appointed to manage another luxury condominium project in Sukhumvit by ESTAR, bringing the total number of premium external projects managed to 3 by Q1/2020, including Triple Y Residence @ Samyan Mitrtown, Grand Florida Pattaya and the latest 'Quintara Treehaus Sukhumvit 42', which aligns with the goals set for the year 2020.

Ms. Somsri Techakraisri, Managing Director of LPP (Lumpini Property Management Co., Ltd.), shared updates on the plan to manage premium external condominiums under the 'Prestige Management' team by LPP. Recently, the company has been entrusted by Eastern Star Real Estate Public Company Limited (ESTAR) to manage the premium project in Sukhumvit, 'Quintara Treehaus Sukhumvit 42', which has been completed and residents are gradually moving in, thus starting management duties since March.

The highlight of the 'Prestige Management' service is that we design customized services to meet the needs of clients, whether they are project developers or the condominium juristic committee. This includes providing 'Guest Service Agents (GSA)' who can offer comprehensive one-stop services to enhance convenience for clients and help manage costs. Additionally, we have a team of technicians available '24 Hours On Duty', allowing clients to contact the juristic person at any time. Our staff also possesses engineering expertise, focusing on highly experienced professionals in their respective fields, as system management is crucial for vertical buildings like condominiums. This requires integrated management to ensure all systems function properly for the safety and convenience of residents, ultimately increasing the value of the condominium while ensuring efficient and appropriate management of common expenses.

“The principle of managing premium condominiums for external real estate projects is that, in addition to the physical aspects of the project, especially the various systems, it is essential to deeply understand the intentions of the developers (Empathy) regarding what they want to deliver to clients and the desired living culture. We can respond by customizing and planning appropriately to align with the developers' intentions. This combines our management strengths with a deep understanding of residents' needs (Comprehension Skills) through 'Prestige Management' by LPP, enabling us to identify, extract, plan, develop, and deliver the most suitable services to other developers. This is a challenging task, and the entire LPP team is committed to providing professional service under the 'Year of Proficiency' this year.”

The economic situation and COVID-19 have led to a prolonged economic slowdown, with purchasing power and investors waiting for positive signals before making investment decisions. However, managing premium condominiums that are gradually being completed cannot wait. Clients who have purchased and are gradually transferring ownership want to move in and receive quality services from professional managers, creating a significant market opportunity,” Ms. Somsri concluded.