New subsidiaries for luxe and sense brands

Investment of Bt250 million for two Bangkok residential projects next year

Developer Suparat Group is setting up two subsidiaries – Luxe Development and Sense Development – in a strategic move to expand new residential projects under the Luxe and Sense brands.

The company will allocate an initial investment of more than Bt250 million on the development of two new residential projects in Bangkok next year.

Managing director Sumeth Sukphanpotaram said the first project being opened under the Luxe brand is the Pranaluxe up-market beach-front villas in Pran Buri district of Prachuap Khiri Khan. About 20 villa units have been already developed and sold in the first phase, and another 20 are set to be launched in the second phase.

“We want to expand our Luxe brand as luxury housing in the inner-city area of Bangkok . We are looking at some prime locations such as Sukhumvit and Sathorn for this new project development,

which we expect to start next year,” said Sumeth.

He said that the new luxury-housing project would feature “interesting character and personality” and be an attractive alternative for customers.

“We are also securing the purchase of a new plot in Phaholyothin for the development of a condominium project under the Sense brand,” Sumeth said. “We want to make our Sense a residential project that helps promote good quality for urban people at affordable prices.”

Sumeth said that the company had recently developed Sense Sukhumvit, an eight-floor 149-unit condominium on Sukhumvit Soi 68. Worth Bt360 million, the “tropical modern” condominium has been developed under the “Sense of Lifestyle” concept aimed at improving the quality of life for Bangkokians concerned about a good surrounding environment.

“The target customers of Sense Sukhumvit are working people and medium-level executives aged between 30 and 40, who have good taste and require great value in living quality,” said Sumeth. The prices of Sense Sukhumvit condominium range from about Bt2 million for studio units to Bt3 million for two-bedroom units.

He said Sense Sukhumvit condominium was expected to close the sales of the last 20 units by the end of this year.

He added that the group had seen good signs of recovery in the property sector. Consumers are more relaxed and have less concern about local economic problems. He said the mood was quite different from the end of last year and early this year when the market was quiet, both in number of client visits and bookings.

Sumeth expects full recovery to be seen in the current quarter.

SOURCE: The Nation

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