Record-breaker in Bangkok

Nimit Langsuan, the latest project by Thailand listed high-end property developer Pace Development, has achieved record-breaking pre-sales bookings in just two days.

The company reported 70 percent deposited bookings for the 187 units at the 53-storey freehold development in central Bangkok. Some 90 percent of buyers to date have been Thai, and all five penthouse units with price tags of THB250 million have been snapped-up by local Thai buyers.

Company Chief Executive Officer Sorapoj Techakraisri attributed the stunning sales success to his companys reputation, the location, as well as the AEC effect. The company has reported surging interest on the back of ASEAN integration that will begin in December 2015.

Sorapoj said: The pre-sales success of Nimit Langsuan, and its ability to achieve prices in excess of THB300,000 per sqm, means the project can be self-financing."

Units at the property range in size from 78 sqm upwards to 617 sqm, and most are between two- and four-bedroomed units.

Prices start in excess of THB25 million at the project that will commence construction in October this year and is expected to be completed during the second half of 2018.

Andrew Batt, International Group Editor ofPropertyGuru Group, wrote this story. To contact him about this or other stories emailandrew@propertyguru.com.sg

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