The Sukhothai Residences, the ultra luxury condominium project of HKR International Limited (HKRI) in Bangkok, Thailand, has been completed. Handover of the sold units is in progress and at present about 50% of the owners have taken over their units. The project was first launched for sale in 2008 with about 70% of its units put to the market, which were snapped up by buyers globally within a short period of time. Total sales revenue back then reached THB6.5 billion (about HK$1.6 billion) and the remaining units are planned to be re-launched for sale in early 2013.
Ms Vivian Sze, Sales and Marketing Director of HKRI, said: “The Sukhothai Residences was the first luxury residential project in Thailand to surpass the price level of THB300,000 per square metre. At present, it remains at the forefront of the luxurious residential market in Thailand.” When the project was first launched, its typical units were sold at a price range between THB200,000 and THB280,000 per square metre (about HK$4,700 to HK$6,600 per square foot). The feature units at the top floors fetched a record price as high as THB350,000 per square metre (about HK$8,200 per square foot) as well.
HKRI plans to put the remaining units of The Sukhothai Residences to the market in early 2013. “We think that the project should reveal by itself by the time it is completed in order to let prospective buyers better evaluate the property’s qualities and unique architectural style through their own eyes. This is the reason we hold the remaining units until the completion of the project. Besides, there is no financial pressure on the company to sell the remaining units in a rush,” Ms Sze said.
As the name suggests, the project roots from The Sukhothai, the legendary hotel located in the heart of the Sathorn CBD area of Bangkok. A 41-storey ultra luxury condominium project consisting of 196 residential units, The Sukhothai Residences provides buyers with a flat mix ranging from 1-bedroom units of 88 square metres up to the “Sky Villa” penthouses of over 1,200 square metres, offering them a stately and stylish home right in the heart of Bangkok.
The Sukhothai Residences is designed by the renowned designers Mr Kerry Hill and Mr Ed Tuttle who reunited exclusively for the project after almost two decades since the creation of The Sukhothai back in the 1990s. In addition, there are two on-site luxury show suites designed by the award-winning UK-designer Ms Kamini Ezralow and HK-designer Mr Philip Tang, offering two different design approaches to illustrate a unique sense of appreciation within the context of the development.
The Sukhothai Residences’ architectural and interior designs have won numerous acclaims. The project has been awarded the titles of “Best High-Rise Development, Asia Pacific”, “Best High-Rise Development, Thailand” as well as “Best Interior Design, Thailand” by CNBC in 2009 and also the “Best Interior Design” in Thailand Property Award 2009. One of its on-site show suites was also recently commended in the 2012 International Property Awards.
About The Sukhothai Residences
The Sukhothai Residences is a 41-storey luxury condominium developed by Grace Ivory Company Limited, a member of HKR International Limited. The project is built on a 6 Rai (approximately 9,600 square metres) land plot adjacent to The Sukhothai. It consists of 196 high-end residential units including nine feature penthouses. With the joint efforts of Mr Kerry Hill and Mr Ed Tuttle, the internationally renowned architects and designers behind The Sukhothai built 20 years ago, the project was designed with an emphasis on contemporary Asian lifestyles, carrying both the Thai cultural essence and modern architectural aesthetics that create a unique resort-living experience in the heart of the Sathorn CBD area. The project was first launched in 2008 with about 70% of the units put to the market. They were all sold and the remaining units are to be launched in a phase-two sales campaign.