Sathorn project takes off

Sathorn Garden

"Our forecast is to sell all units in phase two by September ," he said.

He said the property was designed to become a new benchmark for residential-lifestyle communities in the city and is conveniently located along Sathorn Road. It features two newly refurbished 41-storey condominium towers with some of the most-generous living spaces in Bangkok, along with a wide variety of communal and recreational facilities. 

 "Sathorn Gardens has a unique appeal for buyers interested in investing in Bangkok's Central Business District. In this area, property values are expected to rise and generate a higher price once units are ready for moving in. The timing is an important consideration for investment buyers and Sathorn Gardens is providing a one-year guaranteed rental return, and up to 90 per cent loan financing with a 1-per-cent mortgage registration fee,"  Navanugraha said.

Sathorn Gardens is located in prime real-estate area, which has major banks, financial centres, embassies, consulates and five-star hotels in the vicinity.

More luxury hotels, resorts, service apartments and corporate towers are being developed in the area, including a massive expansion of Bangkok's BRT.

Sathorn Road is also fast becoming a district for the rich with expensive spas, restaurants and a new shopping centre being planned.

Sathorn Gardens vice president for business development and direct investment Daniel Ross said that despite Thailand's political uncertainty, foreign investors continue to pursue selective investment opportunities, where a return rate of more than 15 per cent is expected.

Pacific Star Group manages a suite of high-profile funds including the US$650 million (Bt21.76 billion) Asian Real Estate Prime Development Fund, set up to invest in property markets across Asia. 

 "The company is also looking at several resort and villa projects in prime destinations, such as Samui and Phuket.  Service-sector orientation remains one of Thailand's competitive strengths, which supports demand for the country as a tourist destination as well as a market for second homes." Ross said.

Pacific Star Group is one of Asia's fastest-growing real-estate investment houses, having advised and managed multi-billion dollar transactions since its inception in 2001.

The group manages a suite of high-profile funds, including the $600-million Baitak Asian Real Estate Fund, the $650-million Asian Real Estate Prime Development Fund, the $500-million PS Arrow Vietnam Fund and the ¤1.2-billion (Bt62.81 billion) Asia Real Estate Income Fund.

Other notable investments in Asia that Pacific Star Group is involved in facilitating include, Ngee Ann City, Wisma Atria and Capital Square in Singapore, KL Pavilion in Kuala Lumpur, Gotenyama House in Tokyo and Shui On Land in China.