Developer Singha Estate recently revealed its 2016 business plan, based on its successful formula of mergers and acquisitions, and nearly THB 20 billion of investments in international and domestic hotel and tourism markets and Thailand’s real estate sector.
The developer also intends to firmly establish itself as a major player in Bangkok’s upper-market segments with three super luxury projects; a gated mansion community with units on sale from THB 150 million; a premium condominium project, and a Grade ‘A’ office building in the heart of the city.
The company said it will continue to strengthen the Singha Estate brand as a leader in the real estate industry, and continue its focus on human resource development to accomplish its sustainable growth.
Naris Cheyklin (pictured), the Chief Executive Officer of Singha Estate, revealed that his firm will execute a well-funded investment strategy of close to THB 18.8 billion – mainly in super-luxury markets, as part of its five-year plan.
The biggest proportion, some THB 8 billion, will be spent on developments in the hospitality business sector, with another THB 5.100 billion on residential projects and the remaining THB 5.7 billion on commercial assets such as retail projects.
“This year we have plans to launch three new super-luxury projects. Firstly, a gated mansion community on Pradit Manoontham Road (near Ekamai-Ramindra Expressway) occupying a 45-rai prime location for buyers in the A+ segment with units starting at THB 150 million.
“Secondly, the building and retail spaces at Singha Complex, a mix-used project on the corner of Asoke-Petchburi junction. This project will become one of the most luxurious and modern office building in Thailand and its retail spaces will feature famous restaurants, banks and other services to support the needs of office users and nearby residents alike. Office rental fees of this Grade ‘A’, 44-story office building will be more than THB 1,000 per sqm per month, and already Boon Rawd Brewery Group have signed a long-term rental contract for the top six floors – equivalent to approximately 20 percent of the building’s total office rental space.
“Thirdly, a super luxury condominium will be situated within Singha Complex compound and will be ready for reservation in the fourth quarter of this year at prices of approximately THB 300,000 per sqm,” added Naris.
