Ananda Believes Luxury Real Estate Market Will Continue to Grow

Partners with Thaiway Property to Promote “IDEO Q Sukhumvit 36” in China and Hong Kong

Focusing on Real Demand Customers, Confident Sales in Q2 Will Meet Targets

Ananda Development Public Company Limited, or ANAN, a leader in urban residential development, holds the top position in the condominium market near the BTS Skytrain. The company is committed to developing residences that meet the needs of urban lifestyles and believes that the demand for luxury condominiums remains strong among both end-users and investors. Recently, Ananda is preparing to enter the international market by partnering with Thaiway Property to promote “IDEO Q Sukhumvit 36” in the Chinese (Mainland and Hong Kong) market, capitalizing on the reopening of the country. The project emphasizes its rare location near the BTS, targeting real demand customers to strengthen its business and continuously boost international sales according to Ananda's business plan.

Mr. Prasert Butdulyasathit, Chief Executive Officer of the Real Estate Business at Ananda Development Public Company Limited, stated that the overall luxury market in the past 1-2 years has remained in high demand from both end-users and investors. Despite the impact of COVID-19 on the global real estate market, which caused a decline in sales for all real estate operators, Ananda's performance in 2020 showed a decrease of only -10% in condominium transfers, indicating that the demand for ready-to-move-in condos continues. Ananda achieved a transfer value of 18.34 billion baht in 2020, with 21% coming from foreign customers, a figure that has not changed significantly compared to 2019. This gives Ananda confidence that high net worth individuals still seek premium real estate that is reasonably priced for the quality of the projects. These customers tend to be meticulous and take time to decide, but they are more likely to make quick decisions if they can see the actual project. Ananda currently has over 35 ready-to-transfer projects, making it confident that once the country reopens, sales from foreign investors will increase significantly.

“IDEO Q Sukhumvit 36” is a 47-story premium condominium project under the Ideo Q Serie brand, featuring a prime location in the heart of Sukhumvit, with convenient access to both the BTS and private vehicles. It is surrounded by various amenities, including international schools, leading shopping malls, and lifestyle hubs in Sukhumvit, Thonglor, and Ekkamai, with the project located just 450 meters from Thonglor BTS station.

The project is uniquely designed with the concept of “Black Bionic,” featuring a smooth, curved building that appears soft yet exudes a sleek elegance in glossy black. It includes common areas that Ananda has thoughtfully created to provide tranquility in the city, such as the Sky Onsen with 180-degree city views through floor-to-ceiling glass, outdoor and indoor swimming pools, a Virtual Fitness gym, and a yoga room. Additionally, there is a spacious Social Club that can accommodate various activities, including workshops with a balcony, and a Sky Bar for enjoying city views during leisure time. The Co-Working Space and Creative Lounge are designed for versatile use, making this project a perfect fit for the lifestyle of its residents, with prime location, design, and comprehensive common areas that meet Ananda's standards.

In the future, Ananda plans to introduce other projects with unique features and potential to foreign investors. It is anticipated that as many countries begin to ease lockdowns and reopen, foreign investors will significantly invest in Thai real estate.

Jessica Chao, Chief Executive Officer of Thaiway Property, added that Thaiway Property, as a leading real estate agency, has expertise in the Chinese and Hong Kong markets with over 15 years of experience. We have strong partnerships in China that allow us to reach real estate investors and a customer base looking for opportunities in Thailand's premium real estate market. Over the years, Thaiway Property has helped many investors expand their portfolios by accessing quality real estate investment opportunities that meet their needs effectively. Our collaboration with Ananda this time reflects our recognition of the potential of the “IDEO Q Sukhumvit 36” project, which meets the needs of buyers in Thailand, whether for residence, investment for resale, or rental, with its prime location near the BTS in the city center, close to shopping malls, amenities, and various places that perfectly cater to urban lifestyles.

This is also an opportune time for developers to prepare for the Chinese market (Mainland and Hong Kong) as the country is set to reopen soon. The Chinese market (including Hong Kong and Macau) has about 1.2 million people, making it a key target group in the government's plan to welcome foreign tourists, including the easing of vaccine passport measures (Vaccine Passport) instead of quarantine from 14 days to 7 days, expected to start around April 2021. The Chinese market (Mainland and Hong Kong) is among the first to handle the COVID situation and has shown strong economic recovery, making it an ideal time to promote to this customer group.

Ananda expects that the economic direction will improve in mid-2021, marking another challenging year that we must prepare for. We still believe that Ananda's business model, combined with partnerships with experts who understand foreign customers well, will connect the needs of foreign investors with Ananda's quality projects. Our projects are carefully curated to meet all lifestyle needs, enhancing the quality of life for people and preparing them for limitless development in every aspect,” Mr. Prasert concluded.