Fulcrum Global announced that it is expanding into Thailand with The Park at EM District Managed by The Ascott Limited. The serviced residence project will be situated near Phrom Phong and feature international standard accommodations with a number of upscale amenities. Fulcrum will partner with Proud Residence on the project.
“The Park at EM District Managed by The Ascott Limited is a new luxury serviced residence of world-class standard that reinforces the unique attributes of Park 24 as one of the most highly desirable property projects on a rare piece of land in the heart of Bangkok, thanks to the strategic partnership with Fulcrum Global and The Ascott Limited,” Thongchai Busrapan, chief executive officer at Proud Residence, explained in a press release.
The Ascott Limited, the world’s largest international serviced residence owner-operators, will manage the development. The 29-story facility will contain 245 units and be part of Proud’s Park24 project. There will be a number of on-site facilities for guests to use including a fitness center, yoga studio, a library and a 40-meter swimming pool.
Fulcrum, a developer of international real estate based in Hong Kong, believes the project will be great for residents as well as investors. The project comes with a guaranteed rental return of 6 percent on select units. The company believes there will be interest from domestic buyers as well as those from abroad.
“By pairing one of the best property project in one of the most desirable locations in the city with the best serviced residence operator in the world, this project truly creates an exciting, unprecedented investment opportunity for investors,” Frank Leung, managing director, Fulcrum Global Capital pointed out. “It is considered the best possible choice to optimize long-term capital appreciation, with guaranteed rental return for the first two years of five percent for single one-bedroom unit purchase and six percent for other unit types.”
Thongchai Busrapan (Right), Chief Executive Officer of Proud Residence Co., Ltd.; Mr. Frank Leung (Center), Managing Director of Fulcrum Global Capital and Jean Keijdener (Left), Ascott’s Country General Manager for Thailand.
