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Old March 6th, 2015, 04:09 AM   #1
Bangroma-sky
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Join Date: Jun 2011
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BANGKOK | Wish Signature Asoke | 61 fl + 25 fl | Pro

Wish Signature Asoke, 61+25 Storey : Asoke
Name : Wish Signature Asoke (Tentative)
Developer : SiamNuwat Co.,Ltd
Project Description : A mixed use development comprises with a 60 Storey condominium tower and a 25 Storey tentatively Fairmont Sukhumvit Hotel
Location : Asoke Intersection
Launch : 4Q 2015
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Old March 6th, 2015, 06:03 PM   #2
Bangroma-sky
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Siamnuwat plans B10bn mixed-use joint venture

Executive vice-president Tharathorn Aksaranuwat said the 8-billion-baht development would combine residences, shops and a hotel.

"Asean integration next year will boost residential demand from foreigners," he said.

"We need a partner experienced in retail and hotel development. We're talking to four property developers from Singapore, Hong Kong, China and Japan."

However, the joint venture will be developed gradually over the next two years, as the company's financial status remains strong enough for 10 billion baht worth of development projects per year on its own.

"We've seen more mergers and acquisitions this year as property developers look to expand," Mr Tharathorn said.

"But in our case, we're not worried since our finances remain strong. We just need a partner who can make us stand out from our rivals."

Founded in 2006 as a subsidiary of Aksara Group, which engages in property development as well as personal and notebook computers and industrial electricity supply, Siamnuwat plans to launch two condo projects worth a combined 10 billion baht next year.

One of them will be on two rai near the Asok-Sukhumvit intersection and the other on three rai on Phetchaburi Road.

The company is buying another rai next to the Asok plot for a hotel and plans to buy 500 million baht worth of land next year.

Mr Tharathorn said land in the Asok area went for 1.5 million baht a square wah, with overall inner-city prices rising by 10-20% a year on average.

During the first nine months of this year, Siamnuwat achieved 700 million baht in revenue and targets 1 billion for the year, close to last year's level.

Presales met the 5-billion-baht target after closing sales of the Wish Signature Midtown Siam following a three-month launch.

Source: Bangkok Post


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