Standard International, the world's most influential lifestyle brand in the hotel sector, has teamed up with two major developers, Sansiri Public Company Limited, a leader in Thailand's luxury and super-luxury real estate market, and CG Capital Limited, an investment management company from the Chirathivat family focusing on private equity in the hotel and real estate sectors, to launch the project “THE STANDARD RESIDENCES”. This branded residences project is located in two hot tourist cities: The Standard Residences, Hua Hin, the first branded residences in Asia, situated on a rare beachfront location on Hua Hin's most beautiful white sand beach, offering world-class experience facilities, and The Standard Residences, Phuket Bang Tao, located on prime land in the hottest area of Phuket, Bang Tao, providing super low-density luxury with only 188 units on 12 rai (approximately 19,200 square meters), catering to both personal living and holiday home investment with unique modern design and standards that reflect The Standard's identity. The total value of both projects exceeds 8.5 billion baht.

After the COVID-19 crisis, Thailand's tourism sector has quickly rebounded, as evidenced by the 28 million international tourists visiting Thailand in 2023, surpassing the government's target. There is a trend indicating that the number of international tourists will return to pre-COVID levels, with continuous growth expected. It is projected that the number of international tourists in 2024 will reach 35 million, presenting a great opportunity for the hotel and real estate sectors related to tourism, especially in two prime locations: Hua Hin, a popular tourist destination for both Thais and foreigners, recognized as a World Class City of Relaxation and a Wellness & Medical Tourism Hub, and Phuket, known as the 'Pearl of the Andaman', consistently ranked as a World Class Tourist Destination. The government is fully supporting infrastructure upgrades, including two expressway projects, the expansion of Phuket International Airport Phase 3, and the addition of railway lines and international health centers to meet the growing demand for real estate from Asian and European investors.

Amar Lalvani – CEO of Standard International stated:

  • Standard International, a global lifestyle hotel group and the parent company of The Standard hotels, has been established for over 25 years, known for its unique identity and breaking the traditional hotel standards. It opened its first hotel in Hollywood and has since expanded to key locations worldwide, including New York, Miami, London, Ibiza, Maldives, Hua Hin, and Bangkok, which serves as its flagship in Asia, The Standard, Bangkok Mahanakhon.
  • The standout feature of The Standard brand is creating unique experiences for guests with a fun and playful personality, paying meticulous attention to every detail in design and service, establishing The Standard as a pioneer in the hotel industry with unique offerings in accommodations, travel, dining, and nightlife, along with various activities such as fashion shows, art installations, special dining experiences, live music or world-class DJs, A-list parties, exclusive movie screenings, and product launches, all contributing to The Standard's uniqueness.
  • Standard International comprises three main hotel brands: The Standard, which breaks traditional molds with cutting-edge design and diverse dining options, focusing on creating new experiences for guests; Bunkhouse, targeting the bespoke travel market with a unique identity for travelers seeking stylish experiences; and The Peri Hotel, a boutique lifestyle hotel that provides a fun stay experience, emphasizing a home-like atmosphere for travelers and locals alike, ensuring world-class service quality.
  • The project The Standard Residences will incorporate the design highlights of The Standard hotels, including fun living spaces, color combinations, material selections, and comfortable beds, enhanced by unique services and comprehensive amenities to create a distinctive vacation experience that meets guests' needs.
  • The branded residences market in the Asia-Pacific region has grown by 216%, with increasing diversity in locations. The Standard Residences will not be limited to major tourist cities but will also expand to cities with growth potential and unique characteristics, such as Bali, Singapore, and Bangkok.
  • Two branded residences projects have already been launched: The Standard Residences, Midtown Miami, with a total of 228 units in a 12-story building, starting at 450,000 baht per square meter, with over 85% sold, expected to be completed in Q3 2025, and The Standard Residences, Lisbon, with 32 units across three buildings, starting at 350,000 baht per square meter, with over 91% sold, expected to be completed in Q3 2024. The fact that both projects are priced over 20% higher than other projects in the same market underscores the success of Standard International's branded residences development, featuring amenities like a lobby lounge with a café, The Standard Social Club, a pickleball court, karaoke rooms, yoga studios, fitness centers, co-working spaces, bike storage, and libraries, along with distinctive designs, even though the Miami project is solely a residential project.
  • Amar is confident that both new projects, The Standard Residences, Hua Hin, developed by the leading developer Sansiri, a pioneer in the real estate market and the number one market leader in Hua Hin for 40 years, and The Standard Residences, Phuket Bang Tao, developed by the prominent developer CG Capital, an influential private equity fund manager from the Central Group, targeting the Bang Tao area, which can be compared to the Thonglor area of Phuket, will enhance the value of branded residences under The Standard brand. He is confident that these two projects will attract tourists seeking unique vacation homes with world-class service standards, as well as investors recognizing the potential of both world-class tourist destinations, enabling quick sales similar to other projects.

Uthai Uthaisangsuak – CEO of Sansiri Public Company Limited stated:

  • 2024 marks an important year for Sansiri, entering its 40th year as a leading real estate developer in Thailand, with diverse experience covering over 500 quality projects across all segments. Sansiri has developed 25 resort condominium projects (including The Standard Residences, Hua Hin) in Hua Hin, with a total value exceeding 31 billion baht, of which 22 projects are sold out, reflecting confidence in brand quality and high-standard design, along with after-sales service that creates value-added for both residents and rental clients.
  • Sansiri considers Hua Hin as one of its important Strategic Locations, having developed its first flagship project, ‘Baan Kaimook’, a luxury beachfront resort condominium on the whitest and most beautiful beach in Hua Hin, which has seen capital gains soar by 1,000% due to property management maintaining its condition as if it were the first day of occupancy by Plus Property.
  • We find that Hua Hin is a market with high business growth potential, being an important tourist city, resulting in increased demand for Resort homes as second homes, both for personal use and investment by Thais and foreigners, along with infrastructure factors from various government projects currently under development, enhancing Hua Hin's status as a World Class City of Relaxation and a Wellness and Medical Tourism Hub, coupled with improvements in essential infrastructure, including airport expansions to accommodate luxury tourists' private jets and the goal of making Hua Hin a smart city that is modern and safe. Importantly, branded residences are a significant growing property type, targeting a diverse customer base and offering opportunities for returns both in rental yield and future capital gains through management by a world-class hotel brand.
  • The Standard Residences, Hua Hin is a highlight project for Sansiri this year, with a total project value of 4.5 billion baht and being the first Beachfront branded residences under The Standard brand in Asia, set to be the third of its kind in the world. The project is located on a prime location on rare land adjacent to Hua Hin beach, allowing for large-scale freehold development, featuring rare Beachfront Pool Villas priced at 100 million baht, with only 2 units available. It boasts programming experiences that elevate world-class experiences with exclusive facilities available only to residents, such as a pickleball court, mud lounge, salt sauna, and experience shower. Additionally, residents can enjoy exclusive experiences with The Standard, Hua Hin, located in the same destination, catering to the lifestyle needs of modern individuals with unique identities, and importantly, it is the first residence in Hua Hin that allows pets, catering to animal lovers.
  • The Standard Residences, Hua Hin consists of 245 units on a 9 rai area, starting from 1-bedroom units of 40-65 square meters, 2-bedroom units of 77-120 square meters, 3-bedroom units of 107-153 square meters, and rare Beachfront Pool Villas of 220 square meters. The project is set to open its sales gallery for the first time on March 23-24, 2024, and is ready for occupancy in Q2 2026.

Phumi Chirathivat, Managing Director of CG Capital Limited stated:

  • CG Capital, a private equity fund manager under Central Group, has established its first fund worth 10 billion baht to invest in the hotel and real estate sectors related to tourism, responding to Thailand's continuously growing tourism sector. The main investors include 1. The Chirathivat family, 2. Leading banks, and 3. Global institutional investors, with plans to invest in hotels, condominiums, amusement parks, and mixed-use projects, focusing on the country's main tourist cities, including Bangkok, Phuket, Samui, and Pattaya, with an expected investment of 3-5 projects per year.
  • Phuket, known as the 'Pearl of the Andaman', is a famous tourist city ranked among the top 10 in the world and recently voted as the 10th best city for workation globally. After COVID, over 11 million tourists have visited Phuket, leading to the highest number of residential project launches from various developers in Thailand. With 13 international schools and high-end hospitals, this has made Phuket real estate highly sought after in terms of demand and new investments, attracting tourists from China and Russia, the main tourist groups. In the past five years, the growth of condominiums in Phuket has increased by 113%, and CG Capital sees a golden opportunity to invest in the first mixed-use project in Bang Tao beach.
  • The project The Standard Residences, Phuket Bang Tao is located in the best area of Phuket's lifestyle center, Bang Tao (just 3 minutes from Phuket Lifestyle Hub, 5 minutes from Bang Tao beach, and only 25 minutes from Phuket International Airport, with a 30-minute travel time to Old Phuket Town). Previously, the Central Group launched the Porto De Phuket lifestyle community mall on a 40,000 square meter area, which has become a hotspot in Phuket. CG Capital aims to build on this success with the launch of The Standard Residences, Phuket Bang Tao, confident of a positive response from both Thai and foreign buyers due to the branded residences of the globally recognized boutique lifestyle brand, The Standard.
  • The total area of the project is 19 rai, divided into three projects, starting with The Standard Residences, Phuket Bang Tao, covering 12 rai, and The Peri Hotel Phuket Bang Tao, along with the latest F&B concept from The Standard in the same area, covering another 7 rai. The branded residences project consists of 6 buildings with 188 units, designed as furnished units starting from 1-bedroom units of 75 square meters, 2-bedroom units of 100-120 square meters, 3-bedroom units of 167-172 square meters, and luxurious duplex units of 301-313 square meters. The project offers various amenities such as co-working spaces, game zones, fitness centers, a 25-meter swimming pool, a children's pool, and a spa, along with other services according to The Standard hotel standards, including 24-hour concierge service and shuttle service to Bang Tao beach. The Standard Residences, Phuket Bang Tao is set to launch with prices starting at 11.9 million baht, with the first sales gallery opening in April 2024 and ready for occupancy in Q4 2026.

Amar also added that the “Friend with Benefits” program is an offer that enhances the experience with The Standard brand for buyers of both projects, providing three types of exclusive benefits: a 10-15% discount at restaurants within The Standard and The Peri Hotel in Thailand, a discount of up to 25% on room rates at The Standard hotels worldwide, and benefits to participate in Standard-style events, including discounts, special ticket purchases, and invitations to be special guests at events.

The three executives from Standard International, Sansiri, and CG Capital are confident that The Standard Residences, Hua Hin and The Standard Residences, Phuket Bang Tao will succeed and achieve quick sales due to the distinctiveness and uniqueness of the world-class lifestyle brand, Standard International, combined with the expertise, vision, and strength in specialized management of both developers, along with the prime locations of both projects that attract investors and travelers looking for properties that offer more than just a residence.

Visit The Standard Residences website at https://www.standardhotels.com/residences