70% firm, deposited bookings for development achieved from private VVIP pre-sales event
187 exclusive residences priced from Bht 25 million up
PACE Development Corporation Plc, today announced that it is constructing a new, 53-storey super-luxury development next to Lumpini Park that aims to capture increased demand stimulated by the creation of the ASEAN Economic Community (AEC) for centrally-located freehold residences in Bangkok which are designed and built to the highest global standards.
Called ‘Nimit Langsuan’, the development comprises 187 super-luxury residences together with a roof top private club as well as a first ever ‘greenhouse’-style lush garden which provides a unique entrance experience to the building. The tower is clad in a state-of-the-art, never-seen-before glass façade wrapping the building in a glistening reflective skin. The three-dimensional molded glass will create a highly sculptural and timeless design which is the first of its kind in the world.
With a total project value of approximately Bht 7,500 million, it is being built on approximately 3 rai of freehold land on Langsuan Road. Construction is expected to start in October 2015 and will be completed within the second half of 2018.
Mr. Sorapoj Techakraisri, Chief Executive Officer, PACE Development Corporation Plc, said, “Nimit Langsuan has broken all our records for the speed at which pre-sales offers have been taken up, with a stunning 70% of the residences already receiving firm bookings with paid deposits.”
He credited the fast sales to PACE’s reputation as a leader in high-end development with the majority of sales for Nimit Langsuan taken up by existing clients. In addition, he mentioned the ‘AEC-Effect’, citing surging interest for the highest quality residences as a result of the increased mobility within the region for wealthy individuals.
Mr. Sorapoj said, “Everything about this building and the residences will be world-class, from the selection of timbers for the flooring, to the imported, custom designed kitchens and other built-in amenities and sanitary fixtures. PACE focuses on delivering residences and lifestyle experiences to a group of customers that have very high standards. This group has seen what we have achieved in the past with our zero-defect policy at Saladaeng Residences and what we are doing with The Ritz-Carlton Residences, Bangkok at MahaNakhon. Their loyalty has played a major role in boosting the pre-sales take-up of Nimit Langsuan residences.”
He said that around 90% of the bookings were by Thai buyers, many of which had also purchased homes from PACE at Saladaeng Residences and The Ritz-Carlton Residences, Bangkok at MahaNakhon. The majority of bookings so far reflect owners wishing to live in a PACE property, while a substantial number see the opportunities to rent a global standard development to senior executives from around the region.
“The pre-sales success of Nimit Langsuan, and its ability to achieve prices in excess of Bht 300,000 per square metre, means that the project can be self-financing. This frees up financial resources and provides an enormous boost to PACE’s ability to accelerate its corporate growth plans. We will quickly begin other projects that can solidify the company’s position focusing only on the highest quality developments. This will also enable us to expand the global retail operations of our Dean & DeLuca brand,” Mr. Sorapoj, said.
The residences at Nimit Langsuan range in size from 78 square metres to 617 square metres, most with 2-4 bedrooms, and with ceiling heights of three metres and higher. The prices of the residences are from around Bht 25 million to Bht 250 million.
There is convenient access from both Langsuan Road as well as from Sarasin Road.
“Residents are within walking distance to Lumpini Park, Bangkok Central Park, world-class retail and dining outlets in the Rajaprasong, Chidlom, and Ploenchit intersections, as well as the Silom commercial district,” he said.
Additional information on Nimit Langsuan is available at www.pacedev.com, telephone 080-071-2000 and email [email protected] .