Somruethai Tantiworathaworn, Senior Marketing Manager, Magnolia Quality Development Corporation Limited (MQDC) together with Artitaya Kasemlawan, Director of Bangkok’s A&T Residential Sales Services, CBRE (Thailand) Co., Ltd at Tian & Di Room, L7, The Landmark Mandarin Oriental.
Bangkok, 9 August 2018 – Magnolias Ratchadamri Boulevard recently headlined a roadshow sales event for overseas luxury property investors in Hong Kong at The Landmark Mandarin Oriental, Hong Kong. Hong Kong investors are looking overseas for investment value due to the record-breaking prices and ever-increasing costs of acquiring property in Hong Kong.
Visit Malaisirirat, CEO of Magnolia Quality Development Corporation Limited (MQDC) spoke of the success of the recent overseas roadshow, saying, “The roadshow has displayed to luxury investors in Hong Kong the confidence that MQDC has for Magnolias, and for the wider luxury property market. It’s exciting for us to take this magnificent development and exhibit to Hong Kong buyers that there are quality overseas investment opportunities outside of the Hong Kong luxury market. As a result of this most recent roadshow, the penthouse type units are mostly sold out, which strongly reaffirms the confidence we have in our development”.
Located at the heart of Bangkok’s CBD, the mixed-use development of Magnolias Ratchadamri Boulevard comprises a 60-storey profile containing 316 units of beautiful deluxe residences, ranging from 2-bedroom units to penthouses, commercial units and a 5-star hotel, the Waldorf Astoria Bangkok. Waldorf Astoria Bangkok Hotel, which will open this August, will be the first Waldorf Astoria branded hotel in Southeast Asia. MRB residence owners will be entitled to exclusive privileges at hotel outlets, and can enjoy a range of VIP benefits.
“Thailand is an attractive investment destination due to the relative value it offers in comparison to regional markets, as well as its offering of tourism and leisure attractions; plus, the convenience of city living with a plethora of malls, convenient Skytrain links, hotels and fine restaurants. Currently, our
clients are 50% Thai and 50% foreign comprising mostly buyers from Hong Kong. Factors for our sales growth is attributed to the property’s location in one of Thailand’s top destinations and its mixed-use proposition. Hong Kong client interests are still increasing, which demonstrate MRB is leading the top-tier,” said Mr. Visit Malaisirirat.
Magnolias Ratchadamri Boulevard offers two-bedroom units sized from 75-108 sqm with a starting price of about THB 20 million/unit or THB 270,000/sq m. and penthouse units sized from 321 sqm to 384 sqm. Facilities include an exclusive residential lobby and drop-off area, a curved garden-view library, swimming pool, children’s pool and fitness center.
According to Hong Kong’s Ratings and Valuation Department (RVD), Hong Kong’s residential property price index has soared 10.4% y-t-d or 15.9% y-o-y. Since end-2017, prices of apartments sized 70-99.9 sq. m. rose by 10.0% to US$22,311 per sq. m. while apartments with sizes from 100-159.9 sq. m. increased 6.7% to US$24,428 per sq. m.
Aliwassa Pathnadabutr, Managing Director of CBRE (Thailand) Co., Ltd, the sole agent of MRB, said, “Magnolias Ratchadamri Boulevard has been very popular in overseas markets, especially in Hong Kong where local property is now considerably overpriced. Thailand offers excellent relative value, and MRB has been one of the hottest and most attractive investment prospects in Hong Kong. MRB sits in a highly sought-after location surrounded with all of Bangkok’s world class department stores and malls, and is very near the BTS Skytrain. This location, plus the very high specification of building materials, means it offers an attractive and complete package for investors”.
Rebecca Shum, Executive Director of CBRE Hong Kong commented, “Magonolias Ratchadamri Boulevard has been designed to meet the latest in Green considerations and complies with both Thailand 2009 Green Building Code and the Leadership in Energy and Environmental Design (LEED) certification of the U.S. Green Building Council. Together with the floor-to-ceiling windows and the generous 3-meter ceiling height, Magonolias Ratchadamri Boulevard makes a real difference when compared with other projects in Bangkok.”