Hylife Developments, a leading real estate developer in Northern Thailand and winner of the Best Lifestyle Condominium Chiang Mai Thailand 2023 at the DOT Property Thailand Awards 2023 organized by FIABCI-THAI, is confident in the economic recovery and emphasizes its strength as a Global Company that understands the needs of both Thai and foreign consumers in the North. The company is moving forward to launch 2 potential projects: a 3.5-story Home Office named HyTown in Hang Dong-Mae Hia (available for occupancy in April 2024) and a HyCondo Iconic Low Rise 8 (completion expected in Q2 2025), with a total value exceeding 700 million. Pre-booking and sample room viewings will be available with special promotions starting this March, with expected returns of no less than 30% this year.

At the end of last year, the spotlight was on Hylife Developments Co., Ltd., a real estate developer in Chiang Mai, where the management team led by Mr. Shubhodeep Prasanta Das received the award for Winner of Best Lifestyle Condominium Chiang Mai for the HyParc Residences Hang Dong project, reinforcing the project's status as the ultimate lifestyle condominium in Chiang Mai that truly meets residential needs in a prime location at the Dot Property Thailand Awards 2023 held at the Park Hyatt Bangkok.

Mr. Shubhodeep Prasanta Das stated, “As a real estate developer, we focus on creating living experiences that connect nature with relaxation, as Chiang Mai is a destination for leisure and holiday living. Last year, we successfully sold out HyCondo Thasala in a short period, which earned us a prestigious award from FIABCI-THAI in the Residential Condominiums category. This motivates us to develop more luxury condominium projects to achieve higher goals. Our strength lies in being a real estate developer in Chiang Mai that is a Global Company with an understanding of the diverse needs of both Thai and foreign clients, as the customer base in Chiang Mai is varied. We prioritize after-sales service and trust in the company. With a registered capital of up to 100 million baht and completed projects ready for occupancy, we assure our clients that we are a quality construction developer who will not abandon residents.”

When asked about the positioning goals in the upper Northern real estate market, Mr. Shubhodeep responded, “In the upper North, we view every project as the Best of Class in each Segment. We are committed to delivering superior products and services to maximize customer satisfaction for both Thai and foreign clients.”

Mr. Shubhodeep further discussed the current market situation, noting factors that instill confidence in business growth: “Currently, the private sector and tourism industry are recovering, with employment rates in hotels and resorts trending upward. Chiang Mai is a city that continues to attract foreign investment, especially in the startup sector, which offers high salary rates. Additionally, many foreigners, particularly from China, send their children to study at renowned international schools. Overall, Chiang Mai is a city rich in amenities, including large shopping malls and major private hospitals, making it an attractive place for investment, tourism, and living.”

With various factors conducive to business growth, Mr. Shubhodeep revealed that in 2024, the company plans to launch 2 new projects in March 2024: the first is a 3.5-story Home Office named HyTown in Hang Dong-Mae Hia, consisting of 19 units with a project value of 187 million baht and starting prices at 6.99 million baht. It will be completed and ready for occupancy in April 2024. The highlight is that it is a 3.5-story Home Office with usable space ranging from 255-350 square meters, with private parking for every unit and additional communal parking. Each plot also has special land to accommodate future expansion of usable space. The strength lies in being a home office located on a main road that supports urban expansion, as Hang Dong-Mae Hia is an area where land value increases every year and is becoming densely populated with residences of both foreigners and Thais with high purchasing power.

The second project is a HyCondo Iconic Thasala Low Rise 8 with 175 units and a project value of 530 million baht, starting at 1.79 million baht. The project will take 18 months to complete, with expected completion in Q2 2025. The highlight is that it is a resort-style condominium located in the city, offering privacy, tranquility, and is suitable for clients seeking a condominium that feels like home, featuring gardens and a Panoramic View swimming pool extending 24 meters on the second floor, a fully equipped Active Club fitness center, and a Co-working space for residents to work and relax. The strength lies in its location, which can be invested in for rental, with an Occupancy Rate of up to 80%, based on the first phase of the HyCondo Thasala project that has already been completed and is ready for occupancy, assuring that it is a location suitable for both investment and living.

When asked about the target groups for each project, the big boss of Hylife revealed, “The main target group for the 3.5-story Home Office HyTown in Mae Hia, consisting of 19 units, is business owners looking for a place to live and work. The secondary target group is investors seeking a home office in a location with increasing value for investment and profit. For the HyCondo Iconic Thasala Low Rise 8 with 175 units, the main target group is students and professionals looking for accommodation with outstanding design, comprehensive amenities, and easy access to the city. The secondary target group is investors looking for condominiums to rent out and profit from.”

Both projects will open for registration to view sample rooms in March 2024, with sample rooms available at the sales office of HyCondo Iconic Thasala next to Bangkok Chiang Mai Hospital, phone 065-915-3462, and at the sales office of HyTown in Hang Dong-Mae Hia, phone 065-915-3462.

Additionally, the company has interesting promotions for bookings: for the HyCondo Iconic Thasala Low Rise 8 with 175 units, a booking of only 5,000 baht includes free furniture, free air conditioning, and water heater, with the right to pay directly to the project throughout the contract period (up to 30 years). For the 3.5-story Home Office HyTown in Mae Hia, consisting of 19 units, a booking of 10,000 baht includes a Gift Voucher Home Pro worth up to 200,000 baht and the right to pay directly to the project throughout the contract period (up to 30 years).

“After launching the projects, the company aims to sell HyCondo Iconic Thasala this year at 30%, amounting to 159 million baht, while the 3.5-story Home Office HyTown in Mae Hia is targeted at 50%, amounting to 94 million,” Mr. Shubhodeep concluded. This marks 2 potential projects of interest and highlights another strong real estate developer in the North that should be closely watched at this time.