Bangkok--12 Mar--JC&CO PUBLIC RELATIONS
Chewathai, a niche residential property developer, has teamed up with a Singaporean partner, Hup Soon Global, to set up a new joint venture named Chewathai Hup Soon Ltd, which is now launching The Surawong exclusive condominium on Surawong Road.
Destined to Redefine City Lifestyle, the 8-storey, 52-unit low-rise housing estate is eyeing for upmarket home buyers as well as foreign investors. Receiving more than 10% presales at the project’s press conference and soft launch on March 11 at the Four Seasons Hotel in Bangkok, the developer expects all units to be sold out by the end of this year.
The Surawong by Chewathai Hup Soon is inspired by the success of Chewathai Ratchaprarop, a 329-unit condominium on Ratchaprarob Road. This new residential project is run by Chewathai Co Ltd, a joint venture between Chewathai Ltd and United Motor Works Siam Co Ltd, a subsidiary of Singapore’s real estate giant Hup Soon Global Corporation Plc, with 50/50 shareholding structure and an initial investment of 350 million bath.
Proven experience in project management and property sales of Chewathai, coupled with the combined financial strength and competency of the joint venture companies, has created confidence among its potential buyers both in Thailand and from Singapore.
Despite worldwide economic downturn, Chewathai is optimistic about its latest investment. Thanks to the downward trend of construction materials and land prices which have recently dropped by 10-15%, the overall construction cost has been noticeably reduced. The high-end market including A-A+ home buyers and foreign investors, who have high savings and tend to invest in the property market, also contribute to the stability of this ‘least attacked’ segment.
“There are growing numbers of Singaporeans looking for more profitable investments overseas,” said Boon Choon Kiat, managing director of Chewathai Co Ltd. “The second launch of The Surawong will be held on March 27-29 at the Grand Hyatt Singapore, and it will certainly provide our potential clients with a promising opportunity for greater return of investment in the Thai property market.”
The Surawong is conveniently located minutes away from shopping and dining hub along Surawong Road, and close to Bangkok’s central business districts such as Silom and Sathorn. Established schools and institutions of higher learning as well as prestigious hospitals and shopping complexes are also nearby. Accessibility to other prime business and entertainment areas is made even more convenient with the city’s BTS, MRT and expressway network.
Sitting on a 960-square metre site, the 52-unit condominium features luxury and enlightened design with impressively white, modern contemporary mood and tone. It offers A-G and G1 choices sharing the concept of “Redefine City Lifestyle” with space ranging from 40 to 79 square metres. Prices start from 120,000 baht per square metre, or from 4.3 to 10 million baht per unit.
The Surawong’s A, B and C types each come with seven 1-bedroom units sized 40.28, 45.26 and 46.72 sqm respectively. The 2-bedroom D, E and F types each features seven 53.41, one 65.14 and five 69.78 sqm apartments respectively. The G type offers five units of 2-bedroom 74.03 sqm suite, while the G1 features two units of 2-bedroom 79.43 qm condos. All units of this read-to-move-in estate are fully furnished.
The Surawong also offers a comprehensive suite of facilities, including fitness lounge, swimming pool, state-of-the-art security system and many more to make this a pleasurable and safe living. This 52-unit development within a low-density private housing estate also blends living comfort with aesthetic appeal of its exterior and interior.
Despite the recession, Singaporean investors remain positive on Thailand’s real estate market. “The government policy that encourages home buying, interest rates and high competitive prices of property products in Thailand compared to that of Singapore, Japan and other developed markets contribute to brisk sales in the high-end property market here,” said Henry Heng, president of United Motor Works (Siam) Plc.
“Owning a property in Thailand places a high value. The Surawong is designed for those looking for affordable, high quality residential developments in a good location. It offers high quality materials, amenities and infrastructure, plus lower cost of living in a country that is very rich in natural resources and travel destinations like Thailand. We believe the response will be strong upon the official launch.”
For more information, site visit and preview, contact The Surawong Gallery (sales office on Surawong Road) or visit www.chewathai.com
Further information please contact public relations consultant agency
JC&CO PUBLIC RELATIONS Co.,Ltd
Napat Kanchanachai/ Thipsiri Devakul Na Ayutthaya
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