Origin Property has formed a partnership with Nomura to launch the luxury condominium development “PARK ORIGIN THONGLOR” with a total project value of approximately 12 billion baht. To satisfy demand from Thai and foreign investors, it will deliver exclusive hotel like service to the condominiums together with 60 facilities in Thailand.
Mr.Peerapong Jaroon-ek, Chief Executive Officer of Origin Property PCL (ORI), a property developer under several brands including PARK ORIGIN said the company aimed to develop a new residential project which can satisfy customer’s ultimate living at Thonglor, the premier lifestyle area in Bangkok. ORI has developed another joint venture project with Nomura Real Estate Development Co Ltd, a leading Japanese real estate developer, under the PARK ORIGIN THONGLOR brand. This luxury project comprises three buildings with a total of 1,182 units, with a total project value of approximately 12 billion baht.
“The supply of accommodation in Thonglor keeps on increasing due to its potential as a premier lifestyle area. Not only a hub of famous restaurants and lifestyle malls, Thonglor is also a hub of transportation which can connect to everywhere around Bangkok. These are the main reasons why Thonglor attracts both Thais and foreign demand. PARK ORIGIN THONGLOR is built with differentiation and “ultimate living” to deliver the best products to satisfy those demands,” said Mr. Peerapong.
In addition, land in Thonglor is now scarce, and the land price continues to increase significantly. Foreign investors remain keen-eyed for worthwhile future investments. Therefore, the partners are confident that they will get a great reception from both Thais and foreigners.
Mr. Peerapong said one of the highlights of PARK ORIGIN THONGLOR is that certain services will be provided in cooperation with InterContinental Group of Companies. There will be four main services, provided 24 hours a day, 7 days a week. InterContinental Group of Companies will provide training services to employees employed by and based at Origin Property’s Affiliate’s One Phayathai Co., Ltd.’s Hotel Indigo Phayathai (“Hotel Employees”), which will be managed by an InterContinental Group of Companies entity. The Hotel Employees will in turn train staff based at PARK ORIGIN THONGLOR to provide services including GUEST RELATIONS, CONCIERGE, HOUSEKEEPING, ENGINEERING. All these services emphasize a premier lifestyle and are intended to make residents feel like they are staying in exclusive hotels.
“Apart of exclusive hotel-like service, all three buildings are designed to connect to each other with gradient height. The tallest one has 59 storeys, which will make it a new flagship and landmark in Thonglor area. There will be almost 60 facilities provided in the project as exclusive privileges for residents,” said Mr. Peerapong.
Mr. Masaomi Katayama, managing executive officer in international department of Nomura Real Estate Development Co Ltd said the company decided to enter into a joint venture with ORI for this new project because it saw mutual opportunity and potential of the Thonglor location, where it has a long history and since this area has been a “Japanese Town of Thailand” for many years. Currently, Japanese people who work in Thailand still prefer living in this area. Therefore the company will cooperate with ORIGIN in terms of investment capital and know-how technology to help promote the project among Japanese customers.
“We received good feedback from three joint venture projects with ORI in 2017. More than 90 per cent of the projects are sold. Hence, we are confident in the potential of the project location and our partners Origin Property” said Mr.Katayama.
Ms.Wassana Leartphongsopon, SVP of Project Marketing and Sales of Origin Property PCL (ORI), said the companies consider privacy of living and need for relaxation as main priorities. That’s why the project has almost 60 facilities in the common area including Aqua Lounge water therapy activities for the first time in Thonglor, as well as crystal box, pool bar, outdoor onsen, ice room, which can create the experience of perfect living. The project is also designed to connect and combine the common areas of all 3 buildings smoothly.
With the project’s value of over 12 billion baht, PARK ORIGIN THONGLOR is located on land measuring 5 rai 3 ngan in the middle of Thonglor Soi 10 (the same land with Arena 10 project). The project comprises three buildings, with 39 storeys, 53 storeys and 59 storeys, with a total of 1,182 units. There wil be 1-3 bedroom unit types (Penthouse) sized between 30-97 square meters. It will launch pre-sales on November 2018. The company will start the construction in Q2/2019 and expects to complete the construction by Q4/2021.