Sansiri set to launch ‘The Monument Thong Lo’ project High-end condominium in Bangkok’s ‘The Peak’ area Prices start at HK$10 MN, sales commence 1-2 October
Sansiri set to launch ‘The Monument Thong Lo’ project
High-end condominium in Bangkok’s ‘The Peak’ area
Prices start at HK$10 MN, sales commence 1-2 October
Hong Kong (20th September 2016) – Sansiri Public Company Limited, Thailand’s leading and only fully-integrated property developer is cooperating with BTS, the top mass transit service provider in the country, to launch the HK$1.4-billion “The Monument Thong Lo” high-end condominium project under the concept “Luxury is Space”. This prestigious project is located on Sukhumvit 55, or Thong Lo, Road – a high profile location which is the City’s lifestyle centre and where the residences of Bangkok’s upper crust are located – comparable to Hong Kong’s The Peak location.
This project is expected to be another one that Hong Kong investors would enthusiastically add to their “collections” whether for their own residences or long-term investment. The starting price for a 3-bedroom unit is HK$10 million, while the most coveted penthouse is priced at HK$73.9 million. Official sales will commence on 1st-2nd October at the Mandarin Oriental Hong Kong with Ashton Hawks and Golden Emperor as joint agents.
Mr. Apichart Chutrakul, Chief Executive Officer, Sansiri Public Company Limited, said that Sansiri and BTS are proud to introduce this project which is Bangkok’s super-premium condominium to Hong Kong customers to give them the opportunity to become proud owners for the first time. This is following the strong Hong Kong response to all of the previous BTS & Sansiri condominiums under “THE LINE” brand, in the B-Segment, which were completely sold out on their respective pre-sale days in 2015 and 2016.
“Sansiri’s super luxury ‘The Monument Thong Lo’ condominium project is located on Sukhumvit 55, or Thong Lo Road, which is considered to be Bangkok’s most appealing avenue because it is where all the established and emerging facilities and amenities are located, that answer to all the needs of a rarefied lifestyle. The Thong Lo neighbourhood is also the road which local Thai residences of the “old-money” set are located. Therefore, it is expected that Hong Kong investors would be interested to buy units for use as their second homes or for long-term investment.
“A condominium project in the super luxury category situated in a premium location known for its upper-class residents is truly a one-of-a-kind collector’s item, suitable for investors who long to possess a high-end property and are keen to be enveloped in Bangkok’s most desirable investment and lifestyle area that only few can hope to access,” Mr. Chutrakul said.
The Sansiri CEO added that the main selling point of “The Monument Thong Lo” that Sansiri believes will be received enthusiastically by high-end customers is it being a “The Vertical Residence” concept – meaning that this is Thailand’s first condominium project that has seamlessly combined the positives of owning a single house space into a condominium unit area with more spatial area to utilize than traditional condominiums on the market.
Some of the attributes of “The Monument Thong Lo” are:
- A golden location on Thong Lo Road – Suitable as residences for high-end families due to its comparability to Los Angeles’s Beverly Hills, or Hong Kong’s The Peak, that is surrounded by the people and society of similar stature.
- “Luxury is Space” concept – The project contains ample spaces to suit the lifestyle of all family members, including large green areas – two on-ground yards, one at the front and one at the rear. Trees more than 50-years-old that are already rare in this area are preserved in this condominium project located on ‘Bangkok’s leading lifestyle’ avenue – Thong Lo – where the cost of land has been appreciating steadily.
- Each of the units is designed to be extra-large, starting from 125 square metres, or 1,345.5 square feet, for a 2-bedroom unit, while the ceiling is at least 3.30 metres high – which is considered to be very high by condominium standards. Therefore, the residential units offer opulent, light and open-air feeling of a proper home, while outdoor activities are also possible on the large balconies.
- Monolith building with the uniquely designed swimming pool – “The Monument Thong Lo” will be the tallest building on Thong Lo Road and represents a classic monolithic form that erects in one block straight from the ground up. It will become a landmark of this area, especially because of its uniquely designed outdoor swimming pool that is a work of art itself.
- Privacy – Complete privacy is ensured as there are only 127 units on 46 floors. Therefore, each floor contains only a small number of units. In addition, residents of all units have access to private passenger lifts – offering total privacy, convenience, and safety.
- High-end materials – The living room and dining room are laid with genuine imported Italian marble, while the thick tinted glass windows reduce harmful rays, heat, and noise. The sanitaryware is Gessi products while the kitchenware is Binova brand imported from Italy.
- Pet-friendly – Reasonably small dogs are permitted in the condominium – which is an extreme rarity among condominium projects in Bangkok. The HK$1.4-billion “The Monument Thong Lo” is a 46-story condominium project housing 127 units and situated on just under 1 acre of land on Sukhumvit 55 (Thong Lo) Road. The starting price for a 3-bedroom unit is HK$10 million and the most exclusive penthouse is priced at HK$73.9 million. The average price per square foot is HK$7,200. The construction of the project began in April 2016 with the completion expected to be in December 2019.
Mr. Chutrakul concluded that, “Sansiri is confident in the strength of its Sansiri brand being well-known for its high-end residential developments for over 32 years. Sansiri launched the first condominium project under “The Monument” brand – “The Monument Sanampao” last year when it was sold out within one day. We fully believe that the prominent features of “The Monument Thong Lo” will make this grand project warmly welcomed by high-end customers as always.”
Mr. Frederick Ho, Director of Ashton Hawks, states, “We see great upside potential in investing in Bangkok. The luxury property price in Thailand’s capital is four times cheaper than that of Hong Kong, thanks to the low exchange rate of Thai baht against US dollar. Apart from that, increased spending on infrastructure projects by Thailand’s government should help boost economic growth rates and thus, the luxury property market is expected to grow in the next few years and demand remains high from both local and overseas investors. Investing in a luxury property in a premium location in the heart of Bangkok would be a good choice of longterm investment.”
He also adds, “Thong Lo is a traditional affluent area of Bangkok. “The Monument Thong Lo” is located in this prime location, offering not only a coveted address as the neighbor of the Thai upper class, but also a unique modern lifestyle with an international touch. The project can be compared to the luxury developments at The Peak of Hong Kong, like Opus Hong Kong and Mount Nicholson, which are collectible items that are hard to come by. “The Monument Thong Lo” is a joint-venture co-developed by Thailand’s number one mass transit operator, and Sansiri, Thailand’s residential property leader, both are established and trusted brands in Thailand with mature experience in luxury property market. We believe “The Monument Thong Lo” will set new standards in Bangkok’s luxury property project and it will be well received by Hong Kong and Thai investors alike.”
The property roadshow featuring “The Monument Thong Lo” will take place on Saturday 1st and Sunday 2nd October at the Mandarin Oriental Hong Kong.
Sansiri is widely regarded as Thailand’s leading developer of quality homes, townhouses, and condominiums and the country’s only fully integrated property developer. With a workforce of 3,400 employees, Sansiri has built more than 300 projects throughout Thailand and a residential building in London during its 32-year history, all with a strong emphasis on design and livability. Sansiri provides comprehensive services that go beyond those of traditional developers: concierge services,
property management, sales brokerage, and long-term resort rentals. In 2015, the company’s revenues totaled more than USD $1billion.