BRANDED RESIDENTIAL Ritz-Carlton Bangkok Hits THB1.7 Billion

According to an interview by Andrew Batt from Thailand Property Report with CEO Sorapoj Techakrasi of Pace development the recently launched Ritz-Carlton Residences Bangkok have hit THB 1.7 billion in sales. Pricing for the project has been set at THB 250,000 per square meter which is at the upper echelon of the capital's property market.

Located in the premier mixed use Mahanakorn project which is slated to be Thailand's tallest building with 77 stories. The complex will include a luxury boutique Edition hotel which is a joint venture between Ian Schrager and Marriott, as well as upscale retail.

Tracking industry trends thephuketinsider.com in Bangkok has learned the Sathorn located Banyan Tree Residences recently took two non refundable deposits from a recently trade show, which demonstrates an uplift over 2009 trading.

While at the nearby Sukhothai Residences adjacent to the iconic hotel 75% of the units have been sold with the developer holding the remaining 25% of stock to sell on completion at premium pricing.