Name : Somerset Grand Sukhumvit
Developer : Prasanmit Residence Co. Ltd
Architect : Palmer and Turners (Thailand) Limited
Location : Sukhumvit Soi 23
Finish : 2Q 2008
Floor : 38

NEWS RELEASE

Ascott Strengthens Presence as Largest Serviced Residence Company in Thailand with its Sixth Serviced Residence in Bangkok, Bringing its Total Portfolio to 1,300 Units

The Ascott Group, a leading international serviced residence company is fast strengthening its leadership presence in Bangkok, Thailand by winning another contract to manage a 265-unit serviced residence in the heart of Bangkok's thriving Sukhumvit business district. Ascott will manage the property for ten years with the option to renew for another ten.

The new property, named Somerset Grand Sukhumvit, is Ascott’s third property in the Sukhumvit area, and is targeted for launch in the 1st quarter of 2008.

Somerset Grand Sukhumvit will be developed by the Prasanmit Residence Co. Ltd, a company owned by the Narula family who is well-known in the Bangkok hospitality industry.

The largest international serviced residence operator in Bangkok, Ascott now has over 1,300 units in six properties in the prime Sathorn and Sukhumvit areas.

Attractive location and stylish interiors

Somerset Grand Sukhumvit is located in the prime Sukhumvit business district close to banks, financial institutions, large companies, embassies, international schools, hospitals and daycare centres. Furthermore, it is just a 5-minute walk to the BTS skytrain station and subway.

The 38-storey property will offer its residents a choice of studio apartments as well as one, two and three-bedroom units. To be purpose-built and designed to meet the needs of discerning international executives and expatriates who may be on business or leisure, each unit will be tastefully furnished and well-equipped.

Tapping on Bangkok’s fast paced growth

Ascott’s Chief Executive Officer, Mr Cameron Ong said: "Bangkok is one of the fastest growing serviced residence markets in Asia today. We understand that Bangkok’s new international airport is slated to open in October 2006. It is supposed to accommodate 45 million passengers a year, 76 flights an hour, and over 3 millions tons of cargo. That presents a tremendously attractive opportunity for the hospitality industry, particularly in the Mekong Delta area.”

“As the largest serviced residence owner-operator in Bangkok with 1,300 residence units, Ascott is well poised to tap on the growth potential, to capture a larger slice of the serviced residence market which has been growing in popularity," added Mr Ong.

Ascott’s portfolio of properties in Bangkok includes The Ascott Sathorn, Somerset Lake Point, Somerset Park Suanplu, Somerset Suwan Park View and Omni Tower.

The management contract for Somerset Grand Sukhumvit is not expected to have any material impact on the net tangible assets or earnings per share of The Ascott Group for the current financial year.

Serviced residence sector grows

The Ascott Group has secured a contract to manage a 265-unit serviced residence in Bangkok for 10 years, with an option to renew for another 10.

The Ascott’s third property in the Sukhumvit area, named Somerset Grand Sukhumvit, is expected to be ready in the first quarter of 2008. The 38-storey property will offer a choice of studio apartments and one, two, and three-bedroom units.

Ascott will have more than 1,300 units in six properties in Bangkok and Seoul with the latest addition.

Another Singapore-headquartered company, Fraser Serviced Residences, has signed a contract to manage its second 235-apartment property in Seoul, South Korea. DongSung Development owns the 23-storey building with a 35,000m2 of floor area.

Fraser Place Central, Seoul, is due to open in the second quarter of 2006. The group claims its existing Fraser Suites Insadong, also in Seoul, has been running at more than 90 percent occupancy. (TTG Asia)

new big kid on the block............

Is it located right behind The Jasmine building?

Rendering :

Height to the tip of the Roof structure & The Spire will be 150 Meters

http://img156.imageshack.us/img156/9116/somersetgrandsukhumvitsmall5vw.jpg

WHOA WHOA WHOA !!!!

Whoa!!!! I love it, it's really awesome condo.

It's not a condo, It's an Serviced Apartment..:)

Oh! I got it,hehe,thanks.

About The location, to be honest.

I'm not sure, either next to The Jasmine City or deeper down in the soi.

This one looks great.
I like its color.

:)

I missed this before.

Nice color and it's not fat.. I like that.

I like the podium and the fins..looks great.

it turns out to be one of my favorite buildings in BKK.

pulmer&tunner again :)

150 meters tall is not too bad at all.

Somerset Grand Sukhumvit will be developed by the Prasanmit Residence Co. Ltd, a company owned by the Narula family who is well-known in the Bangkok hospitality industry.

Now...Thats Grande Asset?

April 23, 2006 :

http://img161.imageshack.us/img161/6703/img41020ve.jpg

http://img161.imageshack.us/img161/7452/img41130ns.jpg

http://img234.imageshack.us/img234/1061/img41336hq.jpg

I wanna see this one rising.

Ahhh!!! Good location, just exactly next to The Jasmine building.This one is my favorite though. :cheers:

http://img153.imageshack.us/img153/5760/p10302792pf.jpg

Awesome design, I really like it though. One of my favorite buildings in Sukhumvit.

http://img156.imageshack.us/img156/1223/p10308221ck.jpg

June 26, 2006 :

Pilling about to Starts

http://img95.imageshack.us/img95/9127/p10402252vz.jpg

Jul 1, 2006 :

The two crains in those trees

http://img242.imageshack.us/img242/2625/p10402924nv.jpg

Wow!!! This area will change its face a lot when this project and Asok complex completed in the next 2 years.

Jul 15, 2006 :

http://static.flickr.com/66/189845106_79a6f32901_o.jpg

Jul 27, 2006 :

http://static.flickr.com/78/199378452_1108ced829_o.jpg

^^^^Pilling or foundation is underway right now??????

Hmm looks like a tight site. Which tall building is that next door? An office? Be sure the residences do not run around naked in the serviced apartment, or else it will be a public show for the office people! :omg:

Hmm looks like a tight site. Which tall building is that next door? An office? Be sure the residences do not run around naked in the serviced apartment, or else it will be a public show for the office people! :omg:


yes, Jasmine Tower, soi 23 :)

Aug 5, 2006 :

http://static.flickr.com/91/207036855_ce2f722eac_o.jpg

Soi 23 is very happening right now.

Homeowners in dispute with Sukhumvit site developers


Property owners in Sukhumvit Soi 25 have asked the Bangkok governor to stop the construction of a 38-storey serviced apartment building, saying its developers tried to avoid an environmental impact study.


Krit Asvananda, a homeowner in Soi 25, said the plot where the Prasanmit Residence would be situated should not be allowed to house a high-rise building of more than 24 metres or seven storeys, according to the Building Control Law.


The retired air force lieutenant-general said he had asked the Office of Natural Resources and Environmental Policy and Planning (ONEP) to find out whether the developer had done an environmental impact assessment (EIA) before seeking a construction permit.


The developer had submitted an environmental study to the office on Aug 24, 2005, but had been asked to reconsider the impact, he said.


On May 9 this year, the developer applied to the Public Works Office under the Bangkok Metropolitan Administration for a construction permit under Section 39 bis. The clause is used by many developers of high-rise projects but critics say it is a loophole for avoiding an EIA.


Under the clause, construction of a building with fewer than 79 units could start if there were no objections from officials within 120 days, Mr Krit said.


"In the document sent to the Public Works Office, the project would have only 79 units despite the fact that it aimed to develop 285 units of serviced apartments with 38 storeys and a total usable area of 29,737 square metres," he said, adding that developments with fewer than 79 units did not need an EIA.


Taneth Jiraswakedelok, another homeowner in Soi 25, said the community was concerned because there were currently a lot of large projects in the area, including the Jasmine building which has office and residential space, the Glas Haus office building, Prasanmit Condominium and Asoke Tower, which is under construction.


"Every month officials from the BMA have to dredge drainpipes due to drainage problems," he said. "There are also traffic jams _ a security issue in a case of fire.


"This [the project] is only one of many that have tried to avoid the law, which has a bad impact on the environment and the community," he said, adding that a house in Sukhumvit 25 was damaged by a falling crane from construction of the Jasmine building in 2000.


"An accident that leads to severe damage like this will happen if there is no prevention. The company should be stopped from building on this land at the refilling stage. It will be too late if we wait until they start the piling," said Mr Taneth.


Prasanmit Residence, worth 1.5 billion baht, is scheduled to be located on five plots taking up a total of 2.5 rai on Sukhumvit sois 23 and 25.

It will be developed by Prasanmit Residence Co Ltd, owned by the Narula family, a major shareholder of SET-listed Grande Asset Development Plc.


According to the company's report to the Public Works Office, the project will comprise two buildings. Construction began in May with completion scheduled for May 2008.


A seven-storey office building has been planned for Sukhumvit 23, and the 38-storey building on Sukhumvit 25 would house 285 serviced apartment units operated by the Ascott Group of Singapore under its mid-market Somerset brand.

The developer said it had complied with the law based on the set-back distance from Sukhumvit 23 rather than Sukhumvit 25, which it said could not be entered into calculations as it was a dead-end soi.


But homeowners disagree and say that if it was included, a building of more than 38 storeys would contravene the law.

Source: The Bangkok Post: Sep 4

Homeowners in dispute with Sukhumvit site developers


The developer said it had complied with the law based on the set-back distance from Sukhumvit 23 rather than Sukhumvit 25, which it said could not be entered into calculations as it was a dead-end soi.


But homeowners disagree and say that if it was included, a building of more than 38 storeys would contravene the law.

Source: The Bangkok Post: Sep 4
Does the law in favor of developer or homeowners?

No, Actually it's 100% possible to build.

And also passed EIA which does not rely on BMA.

Those people are just being pathetic bullshit because they affraid of having something tall rising on their backyard.

I can understand the homeowners' concern - that is a very special neighbourhood of individual houses. Is the building on Soi 23 or Soi 25? The article is confusing on that point. If it is on Soi 23, I don't really see the problem since there are already other high rises there.

I assume the building spread over from Soi 23 to Soi 25 while the taller one (38 stories) will adjacent to Soi 25 (dead end soi) to comply with the set back rule. The home owners in Soi 25 are the concerning party in this issue.

Oct 1, 2006 :

http://static.flickr.com/122/257049073_2ee9773b13_o.jpg

very small footprint, it must be really soaring though.

Oct 15, 2006::)


http://i98.photobucket.com/albums/l269/mosaic_tu/2006-10-15/PA150035.jpg

I assume the building spread over from Soi 23 to Soi 25 while the taller one (38 stories) will adjacent to Soi 25 (dead end soi) to comply with the set back rule. The home owners in Soi 25 are the concerning party in this issue.

sorry...I do not intend to add to more confusion to the matter..

So Grande Co. is building on Soi 23... a 38 story building in what looks like a very tight plot of land.

Who is then allegedly planning to build a 36 story hotel on Sukhumvit main road between soi 25 and 27 or Glass-Haus and Crown Plaza Hotel?

All those empty townhouses seem poised for immediate demolition!!

Thanks

Chad, have the protestors been successful or why is that project developing to slowly ?

No, but the limitation of land gives a difficulties in the pilling process, dirt-sheet wall installation.

Main structural works will commence very soon by SYNTEC construction.

1 MARCH 2007

sorry.. this one must be right

http://tkfiles.storage.msn.com/x1puxmQQJQbe8JBW_lF399zXloEEc9lVB2Q2azbCKGj_Qqavmv5JZ0odY7n-MAy19qqFHcETfZS4Xqx2d4xVqGSWtb43HfMNyVvRoil-kuSHu0

Thats Asoke Complex I'm afraid..:)

I don't think so - looks like Somerset Grand to me! With Baan Siri 31 in the distance.

Foundation hasn't yet kicked off???:ohno:

I don't think so - looks like Somerset Grand to me! With Baan Siri 31 in the distance.

Excuse me?...He changed the pics after I posted.

I heard the neighbours were making a fuss about construction, hence the delay.
However, i think they are more xenophobic than concerned by the noise. This would have been built at the same time as asoke complex.

April 30, 2007

จากที่มีเครื่องไม้เครื่องมือเยอะแยะเต็มไซต์ ไหงตอนนี้ว่างเปล่าโบ๋เบ๋เยี่ยงนี้ :sly:

http://i4.photobucket.com/albums/y120/thinkpop/sommerset.jpg?t=1178008166

is this still sleeping on Suk Soi 23??

Seems so - the land is completely empty of all activity.

I see construction is back on again after a year's hiatus on the big site behind Millenium Hotel on Sukhumvit 23 - anyone know what this is? I think there was a thread, but can't find it...

:)

I think..;.

It's this one ?? :)

http://www.skyscrapercity.com/showthread.php?t=1071873&highlight=chotayakorn