Altitude Development joins with Japan’s Creed Group to develop Altitude Unicorn Sathorn-Tha Phra condominium
26 June 2019
THAI PROPERTY developer Altitude Development Co Ltd has joined with Japanese property firm Creed Group to develop Altitude Unicorn Sathorn-Tha Phra, a high-rise condominium in Talat Phlu, worth Bt2.4 billion.
The resulting joint venture, Altitude Creed Talat Phlu Co Ltd, sees Altitude Development holding 51 per cent of the total stock and Creed Group holding 49 per cent. Altitude Unicorn Sathorn-Tha Phra is set to be the first and flagship development of the JV, and will cater to market needs and leverage the city’s expansion along new BTS lines, Altitude’s CEO, Chayaphon Hunrungroj, said at a press conference yesterday.
Creed Group have experienced solid growth in Japan and other Asian countries including Malaysia, Cambodia, Vietnam, Myanmar, Indonesia, Laos and Bangladesh, and its Gross Development Value (GDV) is over US$800 million (Bt24.5 billion). Creed Group are looking to further expand their real estate investments in Southeast Asia, and sees Thailand as a priority market.
“The partnership between Altitude Development and Creed Group is the beginning of a new joint investment strategy and business expansion for both parties,” Chayaphon added. “We will grow together by increasing the values of each of our own property businesses as well as sustainably growing our revenues and profits.”
Toshihiko Muneyoshi, the founder and managing director of Creed Group, said that the company had successfully developed real estate projects in a number of countries and Thailand was a strategic market for them to grow their regional presence.
“We will focus on premium condominiums in upcoming locations, outstanding developments with comprehensive facilities, and Altitude Unicorn Sathorn-Tha Phra fits this perfectly and is our first [Thai] development, together with Altitude Development,” Muneyoshi said.
Altitude Unicorn Sathorn-Tha Phra is a 34-storey high-rise condominium connected to Talat Phlu BTS Station by skywalk, offering unrivalled convenience for residents.
Located on 2 rai (0.32 hectares) of land, the development comprises 711 units in four different types – One Bedroom, with a unit area of 23.64-24.53 square metres; One Bedroom Plus, with a unit area of 36.98 sq m; One Plus One Bedroom, with a unit area of 39.08-57.78 sq m; and One Plus One Bedroom Loft, with a unit area of 57.01-69.28 sq m. Unit prices start from Bt2.19 million, with construction scheduled to start in this year’s third quarter and a projected completion in the third quarter of 2021.
Altitude Unicorn Sathorn-Tha Phra offers a comprehensive range of facilities, including an intelligent co-working space with auditorium, as well as a reception and service bar designed by Fallabella – a meeting place offering coffee and tea during the day and cocktails in the evening.
Other facilities include a co-creation kitchen, mini theatre and an e-sports room. The Grand Canyon-inspired swimming pool offers a place to relax and unwind while the fitness centre boasts a climbing wall, yoga area and even a boxing ring.
Source: https://www.nationmultimedia.com/detail/Real_Estate/30371727
