BTS Group, Thailand’s number one mass transit operator, and Sansiri, Thailand’s property leader and the country’s only fully integrated property developer, expect to observe yet another phenomenon, in which all units in their joint-venture condominium development are sold out in a single day. The two visionary companies have announced the date for the global launch of their fourth condominium project under the brand THE LINE called THE LINE Asoke–Ratchada, a freehold condominium development in the centre of Bangkok’s new central business district.
With the concept of ‘Balance is everything. Location is everything,’ the development is the perfect residence for office workers in the area. Located in a prime neighbourhood, THE LINE Asoke–Ratchada is close to numerous office buildings, including Southeast-Asia’s tallest building: the Super Tower. It is only 3 minutes from the closest MRT station and one station away from an Airport Express station. These amenities make it a suitable buy-to-rent property. There is a sure target group of prospective tenants, and the property is expected to return an annual rental yield of 6%. The global launch of THE LINE Asoke–Ratchada will soon take place in Hong Kong during 11–12 June 2016 at JW Marriott Hong Kong, with Golden Emperor Properties and Asia Bankers Club as the exclusive agents.
Mr. Rangsin Kritalug, Chief Operating Officer of BTS Group Holding Public Company Limited stated that, “There is a high demand for condominium projects situated in proximity to the Skytrain and other mass transit systems in Bangkok. People’s lifestyle has changed. They favour the convenience and speed of mass transit. BTS Group, as the number one mass transit operator in Thailand and the nation’s first electric train operator, has foreseen this new trend. We have been granted to extend our route coverage and added more trains to support the growing number of passengers. We have strategically partnered up with Sansiri, Thailand’s property development leader, to construct condominiums along these mass transit routes. They are all designed with Bangkok residents in mind. This joint-venture makes the best out of BTS’s infrastructure expertise with Sansiri’s capabilities in property development and after-sales services.”
Mr. Apichart Chutrakul, Co-founder and Chief Executive Office of Sansiri Public Company Limited, revealed that, “The BTS–Sansiri joint venture plans to develop 25 condominium projects along mass transit routes. These projects are worth USD 3 billion all together. Last year, we launched a total of three condominium projects, namely, THE LINE Jatujak-Mochit, THE LINE Sukhumvit 71 and THE LINE Ratchathewi. Their launches all proved to be phenomenal successes. All units in these three projects were sold within the first day of sales. Their total value is USD293,733. This year, we plan to launch five BTS–Sansiri joint-venture projects, all specifically designed and created to satisfy the demand for prime-quality residential buildings along Bangkok’s mass transit routes. THE LINE Asoke–Ratchada is our first project this year. Its target group is office workers in Ratchada and Rama 9, Bangkok’s new central business districts. There are numerous office buildings in these neighbourhoods, including Southeast Asia’s tallest mixed-use building called the Super Tower, Unilever House headquarters, the Stock Exchange of Thailand, AIA and the Embassy of the People’s Republic of China. The project is also close to Central Plaza Grand Rama 9 department store. In terms of transport, the project is conveniently located 3 minutes from an MRT station, one station away from an Airport Express station, and it is close to a toll way access point.”
THE LINE Asoke–Ratchada is a freehold high-rise condominium with a net value of USD80 million situated on a 0.9 acre plot of land on Asoke–Din Daeng Road. The project comprises one 38-storey residential building and one 9-storey parking building with a basement. There are 473 units in the project. Unit sizes range from 296 sq. ft. for a 1-bedroom unit to 540 sq. ft. for a 2-bedroom unit. Its concept of ‘Balance is everything. Location is everything,’ represents the equilibrium between life in and outside of work that is only achievable if you live close to work and don’t have to spend hours in traffic. It allows you to relax, no matter how busy your work life is. THE LINE Asoke–Ratchada is specially designed so that its residents may live this balanced lifestyle from the very first step.
The pixel-design weight-balanced entrance opens with gradual transparency that sparks an interest as more of the interior is revealed, ensuring that you don’t feel confined without forgoing a sense of privacy. This outstanding design reflects your lifestyle from the very first glance. Its dark blue tone represents city living – bold yet charming. All is well communicated in a pattern that runs throughout the structure like a super car revving up in the orange incandescence of a highway at night. The dual design lobby with double-height vaulted ceiling exudes airiness and comfort. It is highlighted by a curved mirrored staircase in the centre with specially designed handcrafted lamps that give you a sense of elegant relaxation in this modern venue. The upper level of the lobby is laid out as a comfortable family living room for your utmost cosiness and convenience. There is access to a miniature garden that places nature close at hand. You can also exercise, stretch, relax and unwind in the salt-water swimming pool with Jacuzzi or work out with the state-of-the-art gym equipment from Technogym before immersing yourself in the ultimate comfort of the garden that shelters you in an environment of nature and supreme privacy.
“Among foreign-national buyers of BTS–Sansiri joint-venture projects, Hong Kong clients form the largest part of the demographics. The main reasons cited are well-established reputations of both BTS and Sansiri in Hong Kong, proximity to mass transit stations, design, after-sales service and returns on investment. Hong Kong buyers spent USD 18 million on THE LINE Jatujak–Mochit or 10% of the total project value, USD22.58 million on THE LINE Sukhumvit 71 or 49% of the total project value, and USD10 million on THE LINE Ratchathewi or 14% of the total project value. As for THE LINE Asoke-Ratchada, we expect to bring in USD14 million from Hong Kong buyers or 20% of the total project value while we expect the rental yield at 6%,” added Apichart.
Mr. Kingston Lai, Director of Golden Emperor and Asia Bankers Club stated that “We are very confident that this new joint-venture development will receive wide acclaim by Hong Kong investors for a few simple reasons – firstly, the project is prominently located in the new CBD of Bangkok and is surrounded by a myriad of infrastructure and commercial developments, including the Super Tower, hence carrying inevitable and exponential growth potential. Secondly, the partnership with BTS ensures ease of transport and convenience for residents. Lastly, the commercial nature of the surrounding neighbourhood provides a guaranteed stream of quality tenants which will offer investors with a steady source of rental income.”
THE LINE Asoke-Ratchada’s global launch will be held during 11–12 June 2016 at JW Marriott Hotel, Hong Kong. Prices start from HKD1.1 million or USD142,000.
For more information, please visit http://www.sansiri.com/condominium/theline-asoke-ratchada/en/.