By Andrew Batt:
Magnolias Ratchadamri Boulevard revealed it has achieved 40 percent sales at the end of last month – with more than 40 percent of its sales to date coming from overseas buyers.
The luxury development which will include the 5-star Waldorf Astoria Bangkok has done deals with buyers from Hong Kong, Singapore, Malaysia, Taiwan, China, and the Middle East, signifying the large regional recognition this prestigious build enjoys. Sales levels are predicted to reach 50 percent during the first quarter of 2013.
Thanawan Chaiwatana, Managing Director, Magnolia Finest Corporation, said, “Our sales performance has been very strong since our pre-sale period began in July, stoked by high levels of interest in this unique project. It has proved that this is genuinely the city’s most sought-after address.
“Clients really like the location of Magnolias Ratchadamri Boulevard and the iconic design of the building. Waldorf Astoria is also one of the key factors why clients have decided to purchase units at Magnolias Ratchadamri Boulevard.
“Some 40 percent of the total sales are to investors, due to this being a high-yield project (with strong increases in valuations expected each year, and the additional potential for high value short and long-term rental income), and buyers consider the location and unit sizing to be suitable for such investment. Conversely, 60 percent of total sales are to end-users because they realise that we pay intricate attention to every single detail – we build for our customers.”
Magnolias Ratchadamri Boulevard has been developed on more than 6 rai of land, comprising 316 units, which range in size from 48 sqm (one-bedroom), average 80 sqm (two-bedroom) to the larger penthouses and duplex penthouses of between 250 to 360 sqm.
The development lies in the heart of Bangkok’s business districts, offering simple access to renowned restaurants and world famous malls. There are currently only two penthouse units remaining for sale.
Andrew Batt, International Group Editor of PropertyGuru, wrote this story. To contact him about this or other stories email andrew@allproperty.com.sg
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