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Buyers and agents strike
gold at Grande Caribbean Condo Resort
Apichart Gulati, Project
Manager, Blue Sky Group Co., Ltd. (3rd left) presents gold prizes to lucky
winners at the Sea of Prosperity party held at the Grande Caribbean Condo
Resort Pattaya sales gallery on March 8.
The Blue Sky Group Co., Ltd., developers of the Grande
Caribbean Condo Resort Pattaya and the Cruz Grande Caribbean on Thappraya
Road, gave away 20 Baht weight in gold each to two lucky home buyers and one
sales agent as part of their recent “Double Your Luck” gold giveaway
campaign.
The buyers were eligible to enter the competition by purchasing a unit at
the Grande Caribbean Condo Resort Pattaya from August 2013 until March 8,
2014. The number of units sold at Grande Caribbean Condo Resort Pattaya so
far totals approximately 850 units, or 1.6 billion baht value, and this was
celebrated at the Sea of Prosperity party and prize draw event held at the
project sales gallery recently.
Apichart Gulati, Project Manager of Blue Sky Group Co. Ltd., said that, “the
overall real-estate business in Pattaya continues to keep growing because of
the area’s vast potential. This is especially the case when it comes to the
high-rise condominiums market, which has maintained its ascendant growth.
“The Grande Caribbean Condo Resort Pattaya epitomizes this,” he added. “With
more than 850 units or 80% sales achieved since the project was launched in
2012, such positive customer feedback is a testament to the popularity of
the development thus far. 75% of customers who purchased have said they
intend to use their unit as a residence, whilst the other 25% purchased for
investment purposes. The Blue Sky Group is now aiming to reach 100% sales
within this year.”
Apichart said the success of sales in the project can be attributed to a
vigorous marketing strategy that encompasses monthly activities with sales
agents and customers, such as the “Double Your Luck” gold giveaway campaign.
The group now intends to move forward by penetrating two Japanese market
categories comprising those who invest or work in the Eastern Seaboard
region and tourists.
The 2 Billion Baht Grande Caribbean Condo Resort Pattaya project is located
on 18,400 sq. m. on Thappraya Road, between South Pattaya and Jomtien beach.
The project comprises four 8-storey buildings and a 30-storey condominium
development with 1,064 residential units in total. The 34.5 sq. m.
one-bedroom units can be combined into spacious two bedroom homes with an
area of 69 sq. m. Prices start at 1.89 Million Baht for a fully furnished
one bedroom unit and the project is expected to be completed in 2015.
Follow updates on www.grandecaribbeanpattaya.com to see more promotions and
special campaigns relating to this project.
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Bridging the gap: iconic
Waterfront project takes shape
Tulip Group celebrated the
joining of the 2 main towers of its Waterfront Suites & Residences project
at Bali Hai in Pattaya last month as construction crews hoisted a 5-storey
bridge unit into place.
Kobi Elbaz and the Tulip Group held a party at the
Centara Grand Phratamnak hotel on Thursday, March 20 to celebrate the
ongoing construction of the company’s Waterfront Suites & Residences project
at Bali Hai in Pattaya. Over 120 guests were treated to dinner at the Oceana
restaurant followed by drinks on the rooftop overlooking the bay.
Tulip CEO Kobi Elbaz updates
guests at the March 20 party on progress of the Waterfront Suites &
Residences development.
Waterfront is a project that was initially conceived a number of years ago
and went through many early problems before finally getting off the ground
after being purchased by the Tulip Group and Park Plaza Hotels. The location
however is a developer’s dream, situated near the iconic Pattaya sign and
with sweeping views of the bay and outlying islands.
Tulip CEO Kobi Elbaz explained that it’s an amazing plot of land and the
project is now selling for record breaking prices, with a unit recently
purchased for an incredible 246,000 baht per square meter, while many others
in the building are selling for 200,000 baht a square meter.
Mr Elbaz stated that the obligation was totally on Tulip Group as the
developer to get things right and deliver on time, which is why the company
put so much effort in from day one. This time last year the piling work had
just been completed and now, just twelve months later, 35 floors on the
condominium side have already been finished and 22 on the hotel side.
Construction work on the
building has now reached the 35th floor, with additional floors being added
at the rate of one every 4 days. (Photo courtesy Tulip Group Thailand)
On the morning prior to the party last month, a blessing
ceremony took place at the Waterfront as construction engineers installed
the biggest bridge ever assembled in a single building in Thailand. The
design of the building is both complicated and unique, with the bridge
sitting between the two towers 60 meters from the ground and containing five
floors of hotel rooms plus a swimming pool on top.
Currently construction teams are working 24 hours a day, 7 days a week, and
are completing a floor every four days. The aim is to finish 53 floors by
the end of July.
Tulip Group prides itself on being able to deliver projects ahead of
schedule, and in the case of Waterfront the contract with its clients is to
complete by the end of 2015. With the current pace of construction however,
it is likely that the main structure of the building will be finished by the
end of this year and it is hoped that the hotel side will be open in time
for the high season at the end of December.
At present, 15 floors have been fitted with glass and aluminum wall tiles
plus air conditioning and 15 more will be completed over the next three
months. The 5-star hotel will have 128 rooms while the condominium building
will house 301 units with access to the full facilities of the hotel, which
include restaurants on the 21st & 22nd floors, a coffee shop on the 3rd
floor next to the swimming pool and another restaurant on the lobby level
with amazing views.
For more information about Waterfront Suites and Residences go to website:
www.waterfrontpattaya.com
(By Paul Strachan/Pattaya Mail)
Party guests view a scale
model of the project.
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Urban Property holds agents’ party for Aeras Condo
The Urban Property Managing
Director Sompop Vanichsenee (center) poses with management colleagues and
sales staff at the Aeras Condominium agents’ party held March 28.
Aeras Condominium held a party for real estate agents and
local media at their stunning sales office and showroom on Jomtien Beach
Road on Friday, March 28.
Aeras was launched in November 2013 and has already sold 45% of the total
number of units, with construction due to start at the end of 2014. This is
yet another project from The Urban Property, the company who also created
Acqua, The Gallery, The Urban Pattaya and Sixty Six Condo, which won the
‘Best Boutique Condominium in Pattaya’ at the Thailand Property Awards in
2013.
The Aeras Condominium showroom
is now open on soi 17-18 Jomtien Beach Road.
The party last month drew about 80 guests who enjoyed the
buffet, free flowing drinks and entertainment, which was provided by a band
playing popular songs.
4 lucky winners walked away with raffle prizes of wide-screen televisions
and mini i-Pads and the Emcee also dished out vouchers for Starbucks after
guests answered a quick quiz about Aeras.
Aeras Condominium will consist of two main buildings in a beachfront
location; one high-rise at 38 stories and containing 304 units and one
low-rise 4-storey building with just 13 units. Room sizes range from 26.5sqm
studios up to 182sqm penthouses. Facilities include a swimming pool, fitness
center, library, games room and children’s play area. More information about
Aeras Condominium can be found online at www.aerascondo.com.
(By Paul Strachan/Pattaya Mail)
Aeras Condominium will consist
of two main buildings with 317 units in total.
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Bhiraj Buri Group launches 45-storey office tower in Bangkok
Bhiraj Buri Group executives
(from left to right): Nawawan Aukarapasuchart – General Manager, Panittha
Buri – Executive Director, Dr. Prasarn Bhiraj Buri – President & CEO,
Pitiphatr Buri - Executive Director, and Poowanai Tanti-Alongkarn – Project
Director (Civil & Structure) pose for a photo during a press briefing for
the Bhiraj Tower project.
A new office landmark will makes its debut in a prime
Sukhumvit district later this year when Bhiraj Buri Group completes its
Bhiraj Tower development at EmQuartier.
Bhiraj Buri Group, with over 30 years’ experience in project development and
the company behind BITEC and the UBC II office building, has targeted this
uniquely vibrant area which is adjacent to Soi 35 and in the heart of
Sukhumvit.
The new office tower will feature 45 floors with a six-floor retail centre
at the base, managed by a leading retail operator. The total office space
available will be 47,500 square metres with a direct link to BTS Phrom Phong
station. The building will also feature 450 square metres of meeting
facilities, spectacular views of Benjasiri Park and a rooftop helipad with
private lounge.
With its eye-catching modern exterior, mimicking the jewels of a crown, the
façade will feature two different kinds of glass, low-E glass and reflective
glass. The former is utilized for its energy efficiency and sound reduction,
and used on the north and south elevations.
“The tower has been designed to ensure that the future needs of the tenants
are met,” says Pitiphatr Buri, Executive Director of Bhiraj Buri Group.
“Constructed to the highest possible standards, the tower will focus on
innovative, practical engineering and design that aims to provide strong
business sustainability in the heart of Bangkok’s commercial district,”
He added: “The Bhiraj Tower at EmQuartier is an exciting project that will
attract international and local businesses alike and will provide a flexible
environment that caters to tenants’ professional lives and their everyday
living demands.”
The project is already 70 per cent complete and tenants are expected to be
moving in before the end of the year. A new office gallery will be completed
this April so potential tenants can view the opportunity.
“We have created a project that offers a unique Grade A office facility in a
prime area of Sukhumvit,” continued Pitiphatr. “The building will be a new
landmark in this area and we are already delighted by the number of
enquiries we have had from both foreign and local companies.”
Situated in Bangkok’s fast
growing commercial and residential hub of Sukhumvit, the Bhiraj Tower at
EmQuartier occupies a prime position and is only a short stroll away from a
myriad of attractions and facilities.
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Hilton Hua Hin offered for sale
Hilton Hua Hin.
One of Thailand’s most iconic beachfront hotels, Hilton
Hua Hin, is being offered for sale. JLL’s (Jones Lang Lasalle) Hotels and
Hospitality Group, which has been appointed as the exclusive brokering
agent, expects the hotel to receive strong interest from both Thai and
international investors.
Mike Batchelor, Managing Director Investment Sales, Hotels & Hospitality,
JLL said, “Hua Hin has emerged as one of Thailand’s dynamic resort markets
over the past ten years, in terms of demand and supply. Within only a
two-hour drive from Bangkok, it is a popular weekend destination for
Bangkokians. Hua Hin also continues to be a favoured holiday destination for
Europeans and is gaining more popularity amongst international tourists.
This is reflected by the strong trading performance of the hotel with
average occupancy over 70% year round.
“Hotels of this calibre are rarely offered to the market especially given
that it is a strongly trading asset with solid growth prospects due to its
exceptional location, spectacular views and a globally recognized brand,”
said Mr. Batchelor.
Hilton Hua Hin is situated on approximately 15 rai of freehold beachfront
land, right in the heart of downtown Hua Hin. The hotel features 298 rooms
with sizes ranging from 42 square meters for a standard room to 450 square
meters for the Chakri Suite. Every room offers unobstructed sea views. The
hotel also features a complete range of facilities including one of the
largest ballrooms in Hua Hin as well as a number of highly popular
restaurants such as the Hua Hin Brewing Company and a rooftop restaurant
offering panoramic views of the Gulf of Thailand.
Another unique feature of the hotel is the existing structure comprising a
high rise tower with over 51,000 sqm of gross floor area (GFA), which is
irreplaceable today as new high rise developments are no longer allowed
under current zoning regulations to be built in such proximity to the beach.
Hilton Hua Hin is offered for sale through an international
expressions-of-interest campaign, having launched last month with already a
number of both domestic and international enquiries being made.
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Fragrant Property launches
‘eco-friendly’ Circle Sukhumvit 31
Circle Sukhumvit 31 will incorporate a Smart
Automatic Parking System.
James Duan, Chief Executive Officer of Fragrant Group, a
developer of real estate projects under the Circle brand, says that the
company’s latest high-end condominium, Circle Sukhumvit 31, was conceived to
“fulfill the demand for contemporary living in harmony with nature, under
the concept of ‘Eco-Luxury Living’, in a way that also suits urban
lifestyles.” The firm has thus created a condo with a versatile interior
design that can be adapted and changed to suit the needs of residents.
 James
Duan, Chief Executive Officer of Fragrant Group.
“I have been to see interior designs in Germany where pieces of furniture
were not limited to a specific function, but rather they could be used in
many ways according to the situation at hand. This inspired me to adapt this
concept to align with the company’s environmental-friendly angle that is
embodied in the project Circle Sukhumvit 31. Affirming the quality of the
project, we chose to use German fittings that will be utilized to produce
this multifunction furniture in order to meet the design needs and made to
the quality that we desire,” said Mr. Duan.
Circle Sukhumvit 31 is a 30-storey condo project in 1 building valued at
1,500 million baht. There are 139 units encompassing one, two, and three
bedroom configurations plus penthouse suites. Prices start at THB 137,000
per square meter or THB 6.3 million per unit.
“This project is a condominium that Fragrant has taken every care to oversee
all the details. In addition to a striking and luxurious design, the
outstanding and unparalleled quality of Circle Sukhumvit 31 is the ability
to adjust the living space in each unit, providing a variety of utility that
is suitable for every aspect of living. We call this a Fully Multifunctional
Design where the resident can configure a number of smaller rooms within a
larger space. A one-bedroom can become two, and two can become three – all
in a harmonious way,” said the Fragrant CEO.
One of the standout ‘eco’ features of the new development is the use of
special materials to control the level of heat in the building. This solar
shield helps reduce energy usage and cost in the long term. Heat from the
air compressors is also redirected into making hot water that can reach
temperatures of 60 degrees, saving energy for residents. Used water is
recycled from each unit for watering the garden in common areas.
In addition, the rooms have been designed in such a way that the kitchen can
be closed up when it is not in use. Residents can also adjust the shelving,
storage and television placement to their liking. Closets can be used as
wall partitions. The living room set can be folded into a spare bed and even
the dining table can also be folded up and put away.
“The design of the Full Multifunction Furniture can also be adapted to suit
specific needs. We also offer comfort and convenience through an unmatched
privilege, the Smart Automatic Parking System, that is the talk of the town,
a novel initiative introduced by Fragrant in the Circle Sukhumvit 11
project,” said Mr. Duan.
Fragrant Group says that Circle Sukhumvit 31 is situated in a prime location
in Bangkok close to BTS Skytrain station at Phrom Phong and surrounded by
many conveniences such as hospitals, leading retail centers and restaurants.
Use of special materials in
the building’s design will help reduce energy costs for residents.
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Bangkok office vacancy rates fall below 10%
for first time in 20 years
Park Ventures on Wireless Road in Bangkok is the
most expensive office building in Bangkok with rents of THB 1,000 per square
metre.
Growth in demand for office space in Bangkok during 2013, combined with
limited new supply, resulted in vacancy rates falling below 10% for the
first time in 20 years, according to international real estate advisor CBRE
Thailand.
“The total office stock in Bangkok was 8.1 million square metres at the end
of 2013 and the occupancy rate was 90.4%. Occupancy improved in all
locations and all grades. Rents rose between 5% - 9% Year-on-Year, depending
on quality and location of the building,” said James Pitchon, Executive
Director - Head of CBRE Research and Consulting.
The total amount of occupied office space rose by 220,000 square metres in
2013 which was the best performance since 2005.
There is only 450,000 square metres of new office space under construction
due to be completed between now and 2016. Some of this new space will be
owner-occupied and not available for rent.
High occupancy and limited new supply means that office rents in Bangkok are
likely to rise further and that tenants will have limited choice. The
shortage of space especially for larger requirements has meant that tenants
have been pre-letting in buildings under construction.
Only two new Grade A buildings will be completed in 2014: AIA Capital
Center, a LEED Gold building on Ratchadapisek Road will be completed in Q3
2014 while Bhiraj Tower at EmQuartier, located opposite to Emporium on
Sukhumvit at the Phrom Phong BTS station will be completed in Q4 2014. Both
of these two buildings already have tenants who have committed to lease
space.
The CBRE report says that Bangkok is still competitive as it remains one of
the cheapest office locations in the region; only Manila, Wellington and
Canberra are cheaper. Core Central Hong Kong office rents are six times more
expensive than the best offices in Bangkok. Park Ventures on the corner of
Wireless and Ploenchit Roads retained its position as the most expensive
office building in Bangkok with rents of THB 1,000 per square metre.
The outlook for demand in 2014 is more uncertain because of the political
situation.
“To date, we have seen no companies closing and no delays in ongoing leasing
transactions, but we have seen a drop in enquiries,” says Nithipat Tongpun,
Executive Director – Head of Office Services at CBRE Thailand. “Even if 2014
office demand is weak, rents are unlikely to fall because of the high
occupancy levels and limited new supply.”
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London on the rise: demand from foreign
buyers spurs property market
An artist’s rendering shows Fitzroy Place near
Tottenham Court Road. The project received a positive response from Thai
investors during a recent sales event in Bangkok.
London property remains high on international investors’
agendas. Strong global demand, particularly from Asia, underlines London’s
status as a prime investment destination, and reinforces the inherently
robust nature of London’s market.
Virginia Ewart-James – CBRE
Thailand.
Aliwassa Pathnadabutr, Managing Director at CBRE
Thailand, has identified the growing demand of Thais wanting to invest in
London, and in response has launched an international property division that
includes on its roster Virginia Ewart-James, who has been transferred from
CBRE London as International Residential Investment Manager to offer a
bespoke service catering to Thais wanting to make quality purchases in
London.
Demand
Demand consistently outstrips supply for London
residential property, keeping it in the spotlight as a lucrative location to
invest. Apart from a minor blip in 2008/2009, prices have risen year on year
across the London market. In addition, demand is driven by its world class
education; since 2007 there has been a 40% increase in international
students, adding purchasers and tenants alike. Over 1,600 Thais attended
London universities in 2012/2013.
High-rise living
As the city’s population evolves, so does its skyline –
high-rise living was considered to be a rare phenomenon in London in
comparison to Hong Kong, New York and Bangkok, but that is changing. The
87-storey Shard now towers over the 48-storey Pan Peninsular, the tallest
residential tower in London when it was completed in 2008.
London’s many parks, green
areas and historical attractions make it one of the world’s most desirable
cities to live. (Photo coutesy The Royal Parks/Press Association)
Soon, the Shard will be joined by new London residential
towers ranging from 50 to 75 storeys, which are currently either under
construction or in the planning process. However, with limited developable
land and tight planning restrictions, the number of high-rise developments
will still be limited.
The Tower on the South Bank is currently London’s tallest
completed residential project and CBRE Thailand successfully introduced a
number of Thai buyers to this Berkeley Group scheme situated on the River
Thames. This positive market response to The Tower has resulted in more
high-rise residential schemes across the city.
The rise of the South Bank
The ‘golden prime postcodes’ of Knightsbridge, Mayfair,
Kensington and Chelsea continue to attract investors, pushing prices into
super prime – a minimum of THB 1.1 million per square metre – due to the
distinct lack of developable land creating limited supply. One property in
Onslow Gardens in Chelsea, for example, has increased in value by 74% over a
nine year period due to the huge demand from Europe, the Middle East and
Asia which has pushed prices and created an overspill into surrounding
areas.
One key area for growth is the South Bank which is seeing
rapid residential development; the situation is comparable to Bangkok’s Chao
Phraya River where redevelopment is fast occurring due to the greater
availability of land.
Mark Collins, Chairman of Residential at CBRE UK, has
said, “Given the quality of the schemes coming out of the ground, South Bank
will soon be firmly established as a prime location. High-rise towers, such
as South Bank Tower and One Nine Elms, will change the South Bank’s
landscape and pricing.”
The South Bank is attracting investors seeking new
investment areas. It stretches from Battersea Power Station in the west,
which is opposite Chelsea, to Tower Bridge in the east, which is ideally
located across from The City. Two of London’s leading universities, King’s
College and The London School of Economics and Political Science, are within
walking distance of central South Bank, which is also a cultural hub for
arts and entertainment.
Crossrail
Property values have increased in Bangkok with the
arrival of new mass transit lines. Crossrail is the first major mass transit
underground network in London since 1979. Operational in 2018, it is
Europe’s biggest infrastructure project with 118km of railway lines to open
up travel across London from east to west. Reducing journey times by up to
25% and increasing capacity by 10%, it is a key factor in the London housing
market. Property along the route will not only boast accessibility to this
improved transport, but will also benefit from capital growth.
Two areas that will experience the greatest capital
appreciation are Tottenham Court Road and Canary Wharf. Tottenham Court Road
in central London, at the eastern end of Oxford Street, boasts a prime
location. Fitzroy Place, a project which sold extremely well at CBRE’s
recent sales event in Bangkok, is a luxurious residential development just
700 metres from Tottenham Court Road station that will immediately benefit
from the improved infrastructure, reducing travel time to Heathrow airport
to 28 minutes. The last seven units are available from THB 92.75m.
Canary Wharf, home to Pan Peninsular and an important
financial district, will also be enhanced by improved connections. Canary
Wharf to Bond Street will be a 13 minute journey. Property prices are
significantly lower than central London, and, with the availability of land,
developers and investors alike are targeting this area.
Market outlook
2013 was a particularly strong year for the London
property market with transaction volumes up 30% from 2012; a 9.5% increase
in capital growth in prime London, and 10.6% in Greater London.
60% of units sold were under construction, an increase
from 50% from the previous year - a trend which developers have identified,
bringing release dates forward accordingly. A good example is Battersea
Power Station where all 800 units were sold in its first phase in Q1 2013.
CBRE also sold 1,800 new London units off plan in Asia;
the UK’s Daily Telegraph reported that 41% of London property over
THB 53 million per unit is purchased by foreigners.
London expert Ewart-James who has over nine years’
experience in the London market says, “London remains at the forefront for
prime residential investment. With strong employment opportunities, demand
from professional tenants that maintains a healthy rental market, and one of
the best rates of capital appreciation, it has become the leading
destination for residential investment. It is a safe spot to invest for a
range of investors – those wanting to secure University accommodation for
their children (now or in the future) or those looking for capital growth.”
(Source: CBRE Thailand Ltd)
London is a prime real estate
investment destination for international buyers, with demand for high class
residential units constantly outstripping supply.
The 48-storey Pan Peninsular in Canary Wharf was
the tallest residential tower in London when completed in 2008.
(Photo/Wikipedia Commons)
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Thai land prices down as court rejects bill
The government’s plan to
develop a high speed rail network has been put on the backburner following
the ruling to scrap the planned 2-trillion-baht infrastructure loan bill. .
(Photo of Chinese high speed train by Bvehk via Wikimedia Commons)
The Constitution Court of Thailand’s decision to scrap
the 2 trillion baht (US$62 billion) borrowing bill has pushed prices of land
along the prospective rail lines down. Following the ruling to scrap the
planned 2-trillion-baht infrastructure loan bill because the contents in the
draft violate the constitution, Thai Real Estate Association president
Pornnarit Chuanchaiyasit said the decision disappointed short-term investors
as they would fail to cash in on previously projected land values up at
double or triple their purchase price.
According to Mr Pornnarit, the court ruling indicates that investments will
shift into the capital and adjacent areas, especially those along the urban
rail lines, with test runs scheduled in 2016-2017.
Thai Condominium Association president Thamrong Panyasakulwong said the
estimated land value in the provinces may contract by 50 per cent, making it
harder to sell off all the condos in other provinces. Land development
activities will be suspended until clearer directions are seen. It is also a
chance for buyers to purchase outlying condominiums at cheaper prices, while
labour and construction material markets will benefit as well from the
ruling.
The Chiang Mai Land Department
will assign officials to re-asses property values now that the bill to bring
high speed rail lines to Chiang Mai has been deemed unconstitutional.
(Photo from Wikimedia Commons)
Housing Business Association president Atip Bijanonda,
meanwhile, viewed that land speculators will be most negatively affected
because they expected to cash in from skyrocketing land prices along the
high-speed rail lines, especially in the northeastern provinces of Udon
Thani, Khon Kaen and Nakhon Ratchasima. Business operators, however, will
not be greatly affected as they did not make any rush purchases of land as
they viewed the government’s plan to be unclear.
Real estate prices in early 2014 were affected by the political stalemate
but sales began to improve in February and return to normal in March. Atip
viewed that the Monetary Policy Committee decision to cut the policy
interest rate to 2 per cent would slightly boost domestic consumption
because of the ongoing political turmoil.
Department of Lands’ deputy director general Pramote Yamalee said he would
assign officials to estimate land prices in Chiang Mai province following
the demise of the loan bill. Land development companies have not been much
affected as they did not make huge investments as the bill was unclear.
Property transactions during the past two months dropped as a result of
political unrest. It should return to normal however if the political
situation becomes stable in the second and third quarter, said Pramote.
Transactions in 2012 accounted for more than Bt70 billion.
(MCOT)
Land values along proposed
high-speed rail lines are now expected to decline after speculators
initially sent prices skyrocketing.
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Swiss-Belhotel looks to expand Asian hotel portfolio
Swiss-Belhotel Changchun flies
the red and white flag in China ahead of four new hotel and resort launches
in 2015.
Swiss-Belhotel International has announced plans to
expand its portfolio in China with a further three properties set to open
across the country over the next two years as the hospitality management
company continues to extend its reach across Asia-Pacific and throughout the
world.
 Swiss-Belhotel
International Chairman and President, Gavin M. Faull.
The Swiss-Belhotel Dahe, Taiyuan, the Grand Swiss-Belhotel Dongguan and the
Swiss-Belresort Nanlihu, Haikou, on Hainan Island, are all set to open in
2015 and will join the existing Swiss-Belhotel Changchun, the Swiss-Belhotel
Hefei, and the Swiss-Belhotel Liyuan, Wuxi as the company keeps pace with
the growth of one of the world’s most dynamic economies.
Swiss-Belhotel Chairman and President, Gavin M. Faull, said the news
highlighted his company’s commitment to the Chinese market.
“The whole world has been captivated by China’s incredible economic growth
and as more and more business people travel in to and around the country,
Swiss-Belhotel International is working with our Chinese partners to provide
them with the very best business facilities and services,” said Mr Faull.
Swiss-Belhotel International’s portfolio currently comprises more than 120
hotels and resorts ranging from two- to five-star brand classifications
across Asia and the Middle East, with three hotels opening recently in
Indonesia, New Zealand and Vietnam.
“This is an exciting time for the country, for the region and for
Swiss-Belhotel International,” said Mr Faull. “As a global hotel management
company we are continuing to expand our full roster of brands from two- to
five-stars and China plays an important role in our future.”
Swiss-Belhotel International was recently recognized in the list of the
world’s top 100 hotel groups compiled by hospitality industry publication,
Hotels Magazine.
The company has also just been voted Indonesia’s ‘Leading Global Hotel
Chain’ at the Indonesian Travel and Tourism Awards 2013, marking the fourth
year in a row Swiss-Belhotel International has been so honoured.
Swiss-Belhotel International holds a strong industry position in Indonesia
and currently operates 34 hotels throughout the archipelago, with a further
60 expected to open in the next two years for a total inventory of 94
properties by 2015.
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AP joins forces with Mitsubishi Estate Group
to launch 3 major projects
RHYTHM Sukhumvit is part of
three Bangkok projects being jointly developed by AP (Thailand) PLC and
Japan’s Mitsubishi Estate Group worth a combined 7.1 billion baht.
In a move that further strengthens its position as a
leading developer of urban condominiums with space optimization as the main
theme, AP (Thailand) PLC has recently entered into a partnership with
Mitsubishi Estate Group, Japan’s largest real estate developer by assets,
forming a joint venture to develop three large condominium projects in
Bangkok with a combined value of over 7 billion baht. Combining Japanese
design concepts with the living preferences of Thai urban dwellers, the
projects, located next door to BTS and MRT stations, will be launched
simultaneously in May.
AP CEO, Anuphong Assavabhokin, said that the partnership is an important
step toward fulfilling AP’s goals as a real estate developer with a vision
to become “The Most Responsive Creator” for its customers.
“By forging an alliance with MEC, AP is taking a major step towards raising
its potential as an organization as well as the knowledge and abilities of
our people. In recent years, the company has sent staff to exchange training
programs to enable them to work more effectively in all aspects of the
company’s operations, from construction and product quality assessment to
sales, so that they can apply the knowledge gained to further raise the
company’s operations in line with international standards,” said Anuphong.
“Through knowhow exchanges, the partnership is expected to further
strengthen AP’s position as a leading condominium developer with expertise
in designing and managing spaces to fit the needs of urban dwellers who
prefer the convenience of short commutes and urban lifestyles,” he
continued.
The partnership will involve an in-depth collaboration between AP’s product
design team and designers from Mitsubishi Jisho Sekkei, a professional firm
of architects affiliated with MEC, with the goal of blending Japanese design
philosophy with deep insights into Thais’ living behavior to create joint
design innovations that ensure space optimization in every condominium unit
developed by AP.
The AP-MEC joint venture encompasses three condominium projects in three
attractive neighborhoods and a combined worth of approximately 7.1 billion
baht. RHYTHM Sukhumvit 36-38, located 300 metres from BTS Thonglor Station,
will cater to those who are attracted to the diversities of life in this
vibrant neighborhood, while RHYTHM Asoke II, situated only 400 meters from
MRT RAMA 9 Station and only 60 meters from the Expressway, will target
working people in the Asoke and Ratchadapisek areas.
The third development, ASPIRE Ratchada-Wongsawang, a 100-metre walk to the
Wongsawang station on the MRT Purple Line, will cater to working
professionals who prefer a convenient commute to Ratchayothin and Central
Bangkok. All three projects will be launched simultaneously in mid-May.
Hirotaka Sugiyama Chief Executive Officer, Mitsubishi Estate Group said,
“The Mitsubishi Estate Group is the leading real estate developer in Japan
with a long history of development of office buildings since becoming the
recipient of the government land sale in Marunouchi district in central
Tokyo in 1890. Our businesses cover a wide range from development, leasing,
operation/ management of offices and commercial facilities, development of
investment property, residential development and sales, to property design &
supervision, and real estate agencies.
“Now we have the pleasure of having AP as our partner in Thailand, a country
that is enjoying strong economic growth as well as an expanding real estate
market. By combining AP (Thailand)’s superior know-how in the Thai market
and Marunouchi’s development know-how built over the last 100 years, I am
certain that we will be able to create brand new values, provide products
our customers will love, and then be very successful in this competitive
market.”
The joint venture is operated under an agreement with MEC Thailand
Investment Pte. Ltd. (MTI), a newly formed company by Mitsubishi Estate Asia
Pte. Ltd.(MEA) and Mitsubishi Jisho Residence Co., Ltd.(MJR), both wholly
owned subsidiary of Mitsubishi Estate Co., Ltd.(MEC). AP holds 51% of the
shares while MTI holds 49%.
2-Bedroom units at the
luxurious RHYTHM Asoke start at 6.57 million baht.
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