Thai firm to unveil anti-protester condo

Magnolia Finest Corporation, the property arm of Thai-Chinese business family Chearavanont, is gearing up to kick off an initial THB5 billion (S$205 million) sales drive in May for Ratchadamri Boulevard, a new high-end condo development specifically designed to prevent easy entry for demonstrators.

Without going into details, Thanawan Chaiwatana (pictured), Managing Director of Magnolia Finest, said the special security feature integrated into the development's architectural design will help keep out protesters.

According to a report by The Bangkok Post, Thanawan noted that this anti-protester design stems from the 6.5-rai (10,400 sq m) project being situated near Ratchaprasong intersection, the site of major political demonstrations in recent years.

"This bumps up the costs, but we have to ensure the safety of both condominium buyers and hotel guests."

He added that the security features will not be conspicuous and will be in harmony with the development's overall design.

With a gross development value of THB6 billion (S$245.98 million), Ratchadamri Boulevard is a 60-storey tower offering 170 hotel rooms on the first to 16th floors and 325 condos from the 17th floor upwards.

The hotel will be managed by Hilton luxury label Waldorf Astoria, making it the first Waldorf Astoria in Southeast Asia and the third in Asia after Beijing and Shanghai. Luxury condo units are between 50 and 60 sq m each for a one-bedder and 300 sq m for penthouse units.

While selling prices for the 30-year leasehold development are yet to be finalised, several property consultants The Bangkok Post spoke with estimate an average price of THB140,000 (S$5,739) psm.

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