PROUD unveiled its Residential Real Estate Development Plan Under the concept of MORE THAN JUST LIVING

Real Estate Press Releases Wednesday May 22, 2019 17:46
Bangkok--22 May--Nadia-K

PROUD unveiled its Residential Real Estate Development Plan   Under the concept of "MORE THAN JUST LIVING" Launching Two New Projects in Prime Area of Hua Hin Serving the Targeting High-End – Luxury Segment   with a Target Sales Estimation of THB 10 billion within five years

Launching two new condominium projects – a luxury development by the beach and a waterpark resort residence next to Vana Nava Water Jungle
  • Targeting –both high end and luxury segments both domestic and international
  • Applying AI and smart home to enhance living experience
  • Confidence in Hua Hin benefiting from Thailand Riviera and government mega projects together with untapped High-End segment
  • More Than Just living concept will be replicated to other key destinations including Bangkok, Hua Hin and Phuket.

PROUD REAL ESTATE PUBLIC COMPANY LIMITED has announced its plan to enter the residential market under the concept of "MORE THAN JUST LIVING". The plan unveiled aims to provide home buyers with a new living solution that combines resort experience into everyday living in key destinations of Thailand, including Bangkok, Phuket and Hua Hin, targeting high end and luxury segment. The Company targets approximately THB10bn in accumulative sales over the next 5 years. The first project will be a luxury development on the Hua Hin beach. The second will be adjacent to Vana Nava Water Jungle.

MS. PROUDPUTH LIPTAPANLOP, EXECUTIVE DIRECTOR PROUD REAL ESTATE PUBLIC COMPANY LIMITED (PROUD), stated that, "From our previous experience in leisure and hospitality in major tourist destinations of Thailand such as Hua Hin and Phuket, we recognized a gap in the market that resulted from a trend shift driven by a growing number of foreign and millennial buyers looking for second homes".

Such demand growth meant that the residential market in these key locations have grown rapidly. Based on information from the Real Estate Information Center of Thailand, the total number of units transferred in key resort destinations including Chiangmai, Samui (Suratthani), Krabi, Phuket, Pattaya (Chonburi) and Hua Hin (Prachuabkirikhan) grew on average 29% per year between 2016 – 2018 compared to the Country's average of growth rate of 20%. Total transferred value in 2018 also totaled THB 51.656 billion.

To better serve this market, PROUD plans to launch a new product under the concept of "MORE THAN JUST LIVING" that seamlessly blends leisure and service aspects of hospitality into everyday living, providing an immersive experience with nature that maintains the integrity and the luxuries of modern day living. The Company also intends to deploy technology to further enhance the living experience. MS. Proudputh stated that "We will focus on the premium and luxury segment as our main target group. Prices will start from about THB 100,000 – 300,000 per square meter in the resort destinations and about THB 150,000 – 350,000 per square meter in Bangkok (with price per unit starting around THB 4 million). It will be practical in size and a worthwhile investment – true to our "MORE THAN JUST LIVING" lifestyle."

MR. PASU LIPTAPANLOP, EXECUTIVE DIRECTOR PROUD REAL ESTATE PUBLIC COMPANY LIMITED (PROUD), mentioned, "As a result of the upcoming mega infrastructure projects by government to further promote tourism in Hua Hin, I am confident that Hua Hin will continue to grow and will likely completely transformed in the next five years." Key infrastructure projects announced by the government include Thailand Riviera project, which aims to promote a new route of tourism along the Thai southern coast line from Petchburi to Ranong, and major transportation developments such as the Nakhonpathom-Cha-am Motorway, the High-Speed Train, Dual Rail Train. Hua Hin Airport has also been allocated a budget for further expansion to accommodate incoming daily international fights that have started since the beginning of the year

About PROUD's first two projects in Hua Hin, Mr Pasu said "The first will be a luxury development on the Hua Hin beach which will be launched within 2019. The second project, which is a waterpark resort condo project adjacent to Vana Nava Water Jungle will be launched in 2020. Estimated sales value of the two projects will be around THB 5.5 billion. After which, we target further an estimation of at least THB 4 – 6 billion in sales, resulting in a total sales value of THB 10 billion within five years. We strongly believe that our concept of "MORE THAN JUST LIVING" will be a key unique selling point in both resort and urban locations particularly Bangkok."

"PROUD will strive to deliver only the best quality projects to our buyers. Our mission is to "challenge the boundary of 'living'" We will also apply technology into our operations ranging from project management, construction, customer services – particularly important will be AI technology that will support the upcoming smart city projects and enhance the living experience" Mr Pasu added before introducing the Board of Directors with extensive experience from varied background and a young and dynamic management team.

MR.SARATH PAVORNDECHAPONG, MANAGING DIRECTOR, PROUD REAL ESTATE PUBLIC COMPANY LIMITED (PROUD), expressed his confidence in Hua Hin and talked of the Company's sales and marketing strategy. "From our past records, there is a continuing growth in terms of the number of both inbound and outbound tourists to Hua Hin, which has been reflected in the hotels' rising performance. This increase in visitors has also stimulated the real estate sector in the area. Nonetheless, there is limited supply in the upper segment despite an increase demand due to shortage of land in prime locations especially along the coastline. According to a study done by Colliers International Thailand, there were only 65 unsold units in the price range of above THB 10 million in 2018 suggesting that there is untapped demand in the luxury segment , which in turn drove the resale price of that market to as high as THB 250,000 per sq m. In launching our first two projects, we also plan to do co-promotion with our business alliances to deliver a unique living experience and privileges for PROUD buyers - true to the spirits of our company's slogan, "MORE THAN JUST LIVING".


Latest Press Release

NUE NOBLE SRINAKARIN LASALLE, a brand-new project in Thailand by Noble Development, striking a massive success in overseas markets with almost 25% sales worth more than 525 Million Baht

Noble Development Public Company Limited (Noble), a leading property developer in Thailand launched NUE NOBLE SRINAKARIN – LASALLE, the newest high-rise condominium with a starting price at 1.59 million baht, which recently made a new phenomenon...

Boutique Corporation Roadshow meets investors in Bangkok, preparing to offer IPO 167 million shares to expand the BOS real estate development.

"Boutique Corporation" or BC organized the roadshow to meet investors and propose the summary of 167 million shares IPOs, showing the strength in the real estate development business in the build-operate-sell model, or the BOS Model, which is a...

Photo Release: #AP Thailand Group by SEAC first to elevate learning in Thailand joining Bill Burnett, author of global best seller #Designing Your Life to build on new gen concept

AP Thailand Group, the leader in the development of residential properties and the creation of a blueprint of good quality of life for everyone in society, led by Mr. Vittakarn Chandavimol, Chief Corporate Strategy and Creation, together with Mrs. Arinya...

Dusit International continues global expansion with new Dusit Princess hotel in central Kathmandu, Nepal

Dusit International, one of Thailand's leading hotel and property development companies, has signed an agreement with Hotel Lhasa International Pvt. Ltd. to develop and operate Dusit Princess Kathmandu, Nepal – the second Dusit-branded hotel set to...

INVESTORS SHIFT INTEREST TO RESORT PROPERTY

Resort properties have sprung back to popularity, according to CBRE, a leading international property consultant. Sales performance of resort properties has risen, deriving from the pent-up demand for projects in the luxury and super-luxury...

Related Topics