MahaNakhon: One in four units still for sale

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MahaNakhon, Thailand’s iconic tallest tower, still has 25 percent of its units for sale almost nine years after its official launch.

In a statement to the Stock Exchange of Thailand last week, Pace Development revealed that at the end of 2017, 75 percent of the units at MahaNakon, The Ritz-Carlton Residences, Bangkok, had been sold.

A total of 156 of the 209 units were noted as being sold as at December 31, 2017.

The statement said that MahaNakhon is still under construction, as is the interior decoration of the Bangkok Edition hotel and MahaNakhon Observatory Deck.

They are expected to be completed by Q2 2018, is added.

A press conference to announce the details of the development took place in May, 2009, while work started some two years later.

Nine years on from its launch, the development is yet to be completed although sold units have been transferred to buyers and investors.

According to data from several property websites, prices at the development are currently around THB 400,000 per sqm, and around THB 40 million for a two-bedroom, 127 sqm unit.

Andrew Batt
The author of this article is Andrew Batt, the founder and editor of Andrew has been writing about property and real estate issues in Thailand and Southeast Asia for more than 10 years. He has worked for PropertyGuru Group, DDproperty, Dot Property Group, Hipflat and AsiaRents. He has also produced content for leading Thailand property developers and real estate agencies.

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