· Investment increases to Bht 9,000 million – up Bht 2,000 million since first announcement of project in October 2014
· Ready for occupancy end 2018
The ICONSIAM Superlux Residence Corporation Limited, today announced simultaneously in Bangkok, Hong Kong, and London that their Mandarin Oriental branded super-luxury riverside residences, 'The Residences at Mandarin Oriental, Bangkok', the first 'Mandarin Oriental' branded residences in South East Asia, are now open for bookings.
The 146 freehold waterfront residences are situated diagonally across the Chao Phraya River from the legendary Mandarin Oriental, Bangkok hotel in a private tower at ICONSIAM – the new Bht 50-billion riverside national landmark in Thailand that is being developed by a joint-venture partnership between Magnolia Quality Development Corporation Limited, Siam Piwat Co., Ltd., and Charoen Pokphand Group. The renowned Mandarin Oriental, Bangkok will provide management services for the development, as well as bespoke amenities for individual residents to complement their lifestyles.
Ms. Thippaporn Chearavanont Ahriyavraromp, Director of The ICONSIAM Superlux Residence Corporation Ltd., said, "The Residences at Mandarin Oriental, Bangkok are designed and being built to the highest standards of luxury that, together with their enchanting location, make these residences among the best in the world. They will liftthe prestige of a Bangkok residential address to a new level, which is why we are launching them simultaneously in two of the top luxury residential capitals of the world."
She said, "No expense is being spared. We are spending over 30% more per saleable square metre than the best of any residential offering in the city and have increased our total investment to Bht 9,000 million, up Bht 2,000 million since last year when Mandarin Oriental Hotel Group agreed to brand and manage these super-luxurious residences."
"In addition to the prestige of the Mandarin Oriental brand, they offer a feeling of being close to nature and a sense of Thai charm, which are combined with world-class design and construction, as well as attention to the smallest details. It's this exceptional combination, in a single project, that makes these residences so unique," she said.
The 52-floor residential building is located on the 50-rai (20-acre) ICONSIAM site that also includes another luxurious residential building of 70 floors, called the Magnolias Waterfront Residences, two of the world's most glamorous retail complexes, as well as seven attractions that will be the first of their kind in Thailand, including a spectacular waterfront promenade.
Mr. Richard Baker, Executive Vice President, Operations Director – Asia for Mandarin Oriental Hotel Group, said, "The legend that is the Mandarin Oriental can now become a personal legacy for the owners of residences in this extraordinary project that is set in one of Asia's most exciting cities. Our brand promise includes an unrivalled commitment to providing the finest property management and hospitality services, which have made the Mandarin Oriental name synonymous with exceptional standards of luxury worldwide."
Mr. Thanawan Chaiwatana, Managing Director of The ICONSIAM Superlux Residence Corporation Ltd., said, "The quality of the residences match or exceed the very best in the world, which is why we are confident of their quick take-up. Our target customers are around the world. They are people who buy at the highest end of luxury and know that special projects like ours are hard to replicate in a city because of the location and the brand. They make a purchase because they desire a rare, 'collectible asset' that gives them something special.
He said, "Other important factors influencing their decision to buy are the quality of design, construction, and services, and confidence that the management of the building is truly world-class. They know that such collectible assets are recession-proof and always appreciate. That's why, even before we had finalised our pricing, we had expressions of interest from customers who pre-booked more than 30 of our 146 residences."
The residences are priced at Bht 350,000 and upwards per square metre, ranging in size from approximately 130 to 230 square metres. The penthouses and duplex penthouses are from 380 to 710 square metres, and are priced at Bht 550,000 and upwards per square metre. The building is only 45 metres from the Chao Phraya River water's edge, and every residence has an unobstructed view of the river as well as looks on to a 4,600 square metre lush garden.
"Privacy, a sense of space, and expansive common areas are some of the most important contributors to a sense of luxury, which is why each residence has its own, private lift entry, 3.20-metre high ceilings, and common areas that are around three times greater per unit than most grade-A rated condominiums in Bangkok," Mr. Thanawan said.
Residents are provided a variety of facilities spread across 3,000 square metres and four floors, including the exclusive Sky Pavilion on the 36th floor with lounges, a business centre and a library. A residents' clubhouse is located on the 4th and 5th floors offering outstanding river views, private dining space, and an outdoor infinity-edge lap pool and jacuzzi. There is also a state-of-the art fitness centre together with golf simulation, games and media rooms.
The Residences at Mandarin Oriental, Bangkok will also introduce to Bangkok the first residential automatic parking system that allows owners to simply leave their cars at the entrance lobby area where an intelligent lift will park their cars for them.
All residences are fully fitted and owners have the option for complete interior decoration and furnishing by globally renowned interior designer Joyce Wang who has designed many high profile projects including Mandarin Oriental Landmark Hotel in Hong Kong, Mandarin Oriental London, Xintiandi Penthouse, and KHH headquarters.
Residence owners will be automatically enrolled in the Residences Elite programme from Mandarin Oriental, offering special recognition and worldwide privileges when staying at any Mandarin Oriental hotel.
Residents are also offered special VIP recognition and privileges when shopping at ICONSIAM retail outlets.
The project is scheduled for completion within 2018.