With prices ranging from THB 17 million up to THB 63.89 million per unit, a new seven-storey development is set to make its debut in Thonglor next week.
Coming from Cevas Properties Co., Ltd., a new joint-venture property development company between Thai and Hong Kong companies, the ‘super luxury’ condo under the Nivati brand will feature just 52 units.
The company said that it aims to launch both high-rise and low-rise. It is focused on super luxury product development it said in a media statement, with elegant design and superb materials specifications, and will be focusing on locations in Bangkok from Asoke to Ekamai.
Douglas Cheung, Chief Executive Officer of Cevas Properties, said: “Asoke to Ekamai are prime areas in Bangkok. Although they are high competitive areas, our strength is being able to translate great design and best materials into reality.”
According to a market study focusing on the Thonglor area by Nexus Property, the project’s marketing and sales consultancy, it found that during 2017, property developers remain confident in a growth of condominium market in the Thonglor area.
During the past two years until the third quarter of 2017, the supply in this location totaled 1,130 units. From the first to third quarter of 2017 there were four new projects launched with the total of 515 units, representing property developers’ strong confidence in this location.
In terms of demand, the study noted a sales rate of just 59 percent of new units coming to the market. It noted that selling prices in the area are as much as THB 275,000 per sqm, while average rental rates range between THB 1,000 per sqm and THB 1,200 per sqm.
Nivati is in Thonglor Soi 23 and will boast the concept of ‘Elegant Classic Contemporary’ with outstanding design of ‘Timeless Classicism of the Architecture.’
One-bedroom units start from 70.80 sqm. Construction will start in Q4 2017 and is scheduled for completion in Q1 2019.
The project will officially launch at a VIP Sales event on September 16, 2017, at Grande Centre Point Thonglor between 10am and 6pm.