Sathorn Gardens offers rental guarantee to lure investors

Sathorn Gardens Towers

Sathorn Gardens Towers

Investment outlook for condominium properties in Thailand remains strong despite current ongoing political discussions in the Thai government says Sathorn Gardens developer Pacific Star.

In Thailand, growth is more focused on residential condominiums due to the increasing demand from local buyers and more luxury properties rising within Bangkok. Local Thais now prefer residential condominiums over stand alone housing projects with 6,214 new units sold at the close of 2007. Investors are eager to pay more than the usual price to reserve the finest Bangkok city properties.

Bangkok´s central business district has been the concentration of high-end, luxurious and unique developments. With more developments rising, Local Thais and expatriates are predicting that 2008 is possibly the best time to secure these properties if you are considering investment options.

Sathorn Gardens, a premier residential condominium project at the heart of the business district of Thailand scheduled to open early August, 2008 is generating its share of interest and buyers.

Mr. Urasate Navanugraha, Assistant Vice-President for Asset Development, said “Sathorn Gardens recently concluded sales of 100 units for the first phase and more than 20% of the further 95 units in the second phase are already closed. Our forecast is to sell out all units in Phase II by September of this year.”

The property is designed to be a new benchmark for residential lifestyle community in the city and conveniently located along Sathorn road. It features a newly refurbished and enhanced two 41-storey condominium towers with some of the most generous living spaces in Bangkok and wide variety of communal and recreational facilities.

“Sathorn Gardens impresses a unique appeal for investment buyers in Bangkok´s CBD. In this area, property values are expected to increase and even generate a higher price offer once units are ready for move-in. Timing is an important consideration for investment buyers, and Sathorn Gardens is providing a 1 year guaranteed rental returns and up to 90% loan financing and free 1% mortgage registration fee,” Mr. Urasate Navanugraha further added.

Sathorn Gardens is in a prime investment area where it is built along major banks, financial centers, embassies, consulates and 5 star hotels. More and more luxury hotels, resorts, serviced apartments and corporate towers are being developed within the area, including a massive expansion of Bangkoks´ BRT. Sathorn Road is also fast rising as a unique living district for the rich where expensive spas, restaurants and a new shopping mall is under planning.

Sathorn Gardens was exclusively launched in a highly successful recent road show in Singapore, offering buyers a special promotion program which included a one-year guaranteed rental return.

Pacific Star International (Thailand) – developer of Sathorn Gardens is also committed to bring in more foreign investment funds to the Thailand property market due to current trends where assets generate high return rates.

Mr. Daniel Ross, Vice-President for Business Development and Direct Investment, said “Despite political uncertainty, foreign investors continue to pursue selective investment opportunities, where investments can deliver a return rate in excess of 15 percent.”

Singapore-based Pacific Star Group manages a suite of high profile funds including the US$650-million Asian Real Estate Prime Development Fund, which was set up offshore to invest in property markets across Asia. The fund initially had a policy to allocate 10 percent of total assets to Thailand.

“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 Thailand both as a tourist destination as well as a market for second homes.” Mr. Ross added.

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

The Group manages a suite of high-profile funds, namely the US$600 million Baitak Asian Real Estate Fund (a joint venture between Pacific Star Group and Kuwait Finance House), the US$650 million Asian Real Estate Prime Development Fund which invests in prime development projects in key Asian cities, the US$500 million PS Arrow Vietnam Fund which invests in Vietnam real estate (a joint venture with Alony Hetz, one of Israel´s largest real estate holding companies) and the EUR1.2 billion Asia Real Estate Income Fund.

Other notable investments that Pacific Star Group has facilitated elsewhere in Asia 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 (which has the renowned Shanghai Xintiandi in its portfolio).

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