Magnolias Ratchadamri Boulevard has achieved 70 percent sales following a recent exhibition which took place at Siam Paragon in central Bangkok.
Thanawan Chaiwatana, Managing Director of developers Magnolias Finest Corporation, said: “Since the project was officially launched in June 2012, we’ve enjoyed consistent successes in terms of both development progress and unit sales.
“Our sales performance has advanced as planned with a sales completion of 70 percent following a series of superb promotions available to selected partner bank cardholders and international road show and visit in Hong Kong and Singapore, respectively. Our customers include both Thais and foreigners and investors.”
After achieving Environmental Impact Assessment (EIA) approval, Magnolias Ratchadamri Boulevard has proceeded quickly to its construction phase to ensure that the project will be completed as scheduled. The development will soon be ready to receive the world-class-five-star hotel, Waldorf Astoria Bangkok – the first Waldorf Astoria in Southeast Asia, in 2015.
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.
“Our starting price is THB170,000 per Sqm – or THB 8.5 million per unit. Our average price is THB200,000 per Sqm, which is an increase of 15 percent compared to the average starting price. This is illustrative of buyers’ recognition of the outstanding investment value of Magnolias Ratchadamri Boulevard,” said Thanawan.
After successful completion of the EIA process, MRB has continued its construction process according to its completion plan to welcome 600 million consumers from the forthcoming ASEAN Economic Community (AEC) in 2015.
Bangkok will intensify its position as an important hub for commerce and tourism; property prices, particularly in prime locations in the city, will continue to climb as demand from local and international markets continue to increase.
Andrew Batt, International Group Editor of PropertyGuru Group, wrote this story. To contact him about this or other stories email andrew@propertyguru.com.sg
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