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Finalists unveiled for
Thailand Property Awards 2014
The shortlist for this month’s highly anticipated
Thailand Property Awards 2014 has been released by event organizer Ensign
Media. The final winners and highly commended companies and developments
will be announced and presented at a gala dinner, to be held at the Conrad
Bangkok Hotel on 11 September.
The independent and experienced panel of judges made its final decision on
the shortlist after a thorough nomination, entry and judging process, which
saw them narrow down the more than 200 entries to just 58.
“The quality of the entries again led to some serious debate amongst the
judges, but we feel that the shortlist represents the best in Thai real
estate from the last 12 months,” said Sunchai Nuengsit, chairman of the
judges panel and managing director of BuilderSmart.
Magnolia and Absolute World Group are up for the most awards, picking up
five and three nominations respectively. Magnolia is up against AP
(Thailand) PCL and Major Development PCL in the coveted Best Developer
category, whilst Absolute World Group has been shortlisted alongside Red
Mountain Hua Hin and SLM Real Estate Co. Ltd (Orchid Palm Homes) in the Best
Boutique Developer category. The two companies will also be awarded with the
newly added Special Recognition award for their dedication to corporate
social responsibility.
Contenders in the coveted Best Luxury Condo Development Bangkok category
include Marque Sukhumvit, Menam Residences, The Ritz-Carlton Residences and
Magnolias Ratchadamri for Best Luxury Condo, whilst Baan Mai Khao by
Sansiri, last year’s Best Developer, has been shortlisted alongside The View
Kata Condominium in the Best Condo Development Phuket category.
Elsewhere, Bravothai Lifestyles has two projects in the Best Villa
Development (Eastern Seaboard) category and The Tulip Group’s Centara Avenue
Residence & Suites and Waterfront Suites & Residences will face tough
competition from Amari Residences and The Palm Wongamat Beach for the Best
Condo Development (Eastern Seaboard) award.
A strong shortlist of developments has also been drawn up for the Koh Samui,
Chiang Mai, Hua Hin and Khao Yai categories, as well as for Best Commercial
Development, which includes AIA Tower and The District Em.
“Although Thailand and its economy have faced uncertain times over the last
year, this hasn’t affected the quality of this year’s entries,” said Terry
Blackburn, CEO of Ensign Media. “It’s also great to see a strong showing
from the recently added Khao Yai and Hua Hin categories, as well as from the
established destinations such as Phuket and the Eastern Seaboard. I believe
this goes to show that the awards continue to be a benchmark for the
industry throughout Thailand.”
In addition to the development awards, the judging panel also chose projects
that display some of the best architecture and design in the country for
Best Residential Architectural Design, Best Residential Interior Design and
Best Commercial Architectural Design.
The Real Estate Personality of the Year award, which is chosen by the
editors of Property Report Magazine, will this year be presented to Toss
Chirathivat, CEO of Central Group.
All the final winners from each category will be automatically entered for
the region’s most prestigious real estate event, the South East Asia
Property Awards 2014, which will be held in Singapore at the Shangri-La
Hotel on 16 October.
Tickets for the Gala Dinner and Award Ceremony, which will include a
cocktail reception and lavish four- course dinner, live entertainment and
extensive TV, print and radio media coverage, are still available and can
purchased at ensign-media.com
(Source: The Property Report)
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Raimon Land
wins ‘Green’ award
Raimon Land employees led by
Nuch Kalyawongsa, Director and Chief Financial Officer, pose at Baan Sap Tai
while taking part in a joint reforestation project with the Plant A Tree
Today Foundation (PATT).
For the sixth year running, property developer Raimon
Land has joined hands with the Plant A Tree Today Foundation (PATT) in an
effort to protect and enhance the natural environment through a sustainable
project. For these efforts, Raimon Land has been awarded the PATT
Environmental Impact Award as the Thai company to have planted the most
number of trees in 2013.
Raimon Land employees led by Nuch Kalyawongsa, Director and Chief Financial
Officer, recently headed to Baan Sap Tai to plant young trees from the
Foundation’s sapling nursery.
“This is our way of showing our commitment to preserve the ecosystem. The
forest is one of our most important natural resources which provides
precious habitats for wildlife and natural spaces for generations to enjoy,”
she explained. “Moreover, we are also helping the neighboring communities by
preserving invaluable resources that can provide a range of long-term
economic, social and environmental benefits.”.
Dr. Andrew Steel, PATT Founder and CEO, expressed his recognition of Raimon
Land’s continuous efforts: “Raimon Land is a true advocate of environmental
stability projects and through its sustained support, we are able to create
many initiatives to tackle the issue of climate change and to encourage
sustainable development in the Kingdom. The PATT Environmental Impact Award
is given to Raimon Land for its commitment to a greener future in Thailand.”
A staunch supporter of the PATT Foundation since 2008, Raimon Land has also
been helping replenish the Sap Tai Forest in Khao Yai and fostering
education through donations to the nearby Baan Sok Noi School.
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Waterfront ahead of schedule; iconic building tops out at 50
August 13 witnessed a major milestone for Tulip
Group as the developer celebrated a topping out ceremony for its Waterfront
Suites & Residence project at Bali Hai in South Pattaya. When completed, the
50-storey development will feature 300 luxury residences and a 120 key
hotel. Joining the celebrations were Kobi Elbaz CEO, Jason Payne Vice
President, Projects Asia, VKK construction, Inter Akitek and various members
of the Tulip Group team.
Centara to open third resort in Bali
Two-bedroom luxury pool villas at Centara Grand
Villas Nusa Dua, Bali, Indonesia.
Centara Hotels & Resorts of Thailand will be opening its
third property in Bali, Centara Crystal On The Bay Nusa Dua, early in 2015.
The new resort will be operated under a management contract signed with
owning company PT Crystal Development.
 Thirayuth
Chirathivat - Chief Executive Officer of Centara Hotels & Resorts.
Located on the bayfront on the southern peninsula of Nusa Dua, one of Bali’s
prime tourism destinations, the resort is set amongst lush green mangroves
and has immediate access to the ocean.
“We are very proud to be announcing the opening of Centara Crystal On The
Bay Nusa Dua, a new property featuring an innovative architectural design
that will become a landmark on the bayfront at Nusa Dua,” said Thirayuth
Chirathivat, Chief Executive Officer of Centara Hotels & Resorts.
“Bali is a destination that is of great strategic importance to us, and we
are honoured that PT Crystal Development has the confidence in Centara’s
international skills and profile to manage this very fine property.”
Centara’s first property in Bali was Centra Taum Seminyak Bali, with the
second, Centara Grand Nusa Dua Villas, still in the construction phase.
“Centara Crystal On The Bay Nusa Dua is a great creative concept and is
ideally located on the Nusa Dua coast,” commented Chris Bailey, senior vice
president for sales and marketing at Centara Hotels & Resorts. “This
beautiful property will allow us to offer yet another type of Balinese
experience to our guests, and will further raise our international profile
in the very important Bali market.”
The newly built resort is a six-storey structure that faces the bay of Nusa
Dua, with Nusa Dua Beach easily accessible within a 20 minute scenic boat
ride or 10 minutes by car. The resort will have 210 rooms, with options
including Deluxe, Suites, Pool Suites, and Jacuzzi Suites, with a choice of
rooms suitable for families. Each room has its own private balcony, with
room sizes ranging from 37.7 square metres to 147.5 square metres.
The rooftop will feature an infinity pool and terrace, along with a rooftop
restaurant and bar that with the dramatic bay views will be an attractive
feature for both hotel guests and outside visitors.
The resort will feature a Spa Cenvaree, two swimming pools, a pool bar, an
all-day dining restaurant, meetings facilities, and a Kids’ Club that
features a zone for the youngsters and an E-Zone for the teens.
A wedding chapel will also be sited on the rooftop, where the terrace will
provide a catered reception area against a picture perfect background.
Nearby attractions accessible by boat include Pulau Penyu and Tanjung Benoa,
both only 10 minutes away, while Serangan is 20 minutes by boat.
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Real estate market transparency improves across South East Asia
Suphin Mechuchep, Managing
Director
of JLL in Thailand.
The 2014 release of a biennial Global Real Estate
Transparency Index report by property services firm JLL and LaSalle
Investment Management showed that South East Asia registered improvement in
real estate market transparency across the board compared to the 2012
survey.
All countries in emerging South East Asia have seen some advances but less
significant than 2012 when the sub-region accounted for 3 out of the top 10
global improvers.
The sub-region continued to display a wide diversity in real estate
transparency. Both Singapore and Malaysia were still graded as transparent,
with Singapore remaining one of the world’s most transparent real estate
markets, ranking 13th globally. On the other hand, Myanmar, which was
covered for the first time in the survey, was among one of world’s least
transparent real estate markets, ranking 100th among 102 markets surveyed.
Thailand, Philippines and Indonesia continued to be categorized as
semi-transparent real estate markets and Vietnam remained in the low
transparency category.
“Despite no change in grading, Thailand has seen continued improvement in
its real estate market transparency score. The country’s improved score and
higher ranking in 2014 is good news,” said Suphin Mechuchep, Managing
Director of JLL in Thailand.
Thailand’s real estate market transparency score improved to 2.76 in 2014
from 2.94 and 3.02 in 2012 and 2010, respectively. The country has also
improved its global ranking from 39th in 2012 and 2010 to the 36th place in
2014.
“Greater availability of market data contributed to improvement in
transparency in Thailand’s real estate market,” said Mrs. Mechuchep. “This
is in contrast with the past when Thailand suffered from a lack of
information about real estate transactions in the market. Major sales and
leasing transactions in particular were typically kept confidential by
relevant parties, be they owners, investors or occupiers. As a result,
actual transacted values against which to benchmark were scarce,” she
explained.
“The growing number of listed real estate developers, investors and property
funds counts for a lot in this aspect as they are required by law to be
transparent,” Mrs. Mechuchep said. “For example, the number of property
funds which trade on the SET grew from 38 in 2012 to 48 at present. These
listed vehicles are subject to strict governance and regulation, as well as
regular and standardized reporting, thus providing more transparency to
Thailand’s real estate market. This trend is being reinforced by the
introduction of REITs into Thailand, which will gradually supplant the
current property funds. REITs allow for investment in more asset types, such
as hospitals, educational facilities and institutions and golf courses,”
Mrs. Mechuchep concluded.
Dr. Chua Yang Liang, Head of Research South East Asia at JLL, said,
“Continuing institutional interest in South East Asia would help to drive
rising transparency in the regulatory/legal environment as well as the real
estate transaction processes.”
He cited recent interest by institutional players such as GIC RE, Goldman
Sachs and Ascendas in the Philippines, and on-going institutionalization of
the property market in Thailand as examples. In addition, Dr. Chua also
expects a young population in South East Asia, with higher education and
increasing usage of social media, to push for greater real estate
transparency going forward.
JLL’s latest Global Real Estate Transparency Index reveals continued
progress in transparency over the past two years. Over 80% of markets have
registered an improvement since 2012, although increases in most markets
have been ‘slow but steady’.
Out of 102 markets covered by the index, 14 countries saw a significant
improvement in their overall score. Sub-Saharan Africa (SSA) claimed five of
the global top 10 spots for greatest improvements in real estate market
transparency: Kenya, Ghana, Nigeria, Zambia and Mauritius.
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PACE set to open Asia’s largest
man-made clearwater lagoon
MahaSamutr’s luxury villas will surround a
45-rai clearwater lagoon, the largest of its type in Asia.
PACE Development Corporation Plc, says that it plans to
complete Asia’s largest clearwater lagoon by December this year at a cost of
Bht 600 million. The 45-rai lagoon is located inside the 120-rai, MahaSamutr
ultra-luxe villa-and-country-club resort being developed at Hua Hin Soi 112
with an overall investment of Bht 3,280 million.
 Sorapoj
Techakraisri, Chief Executive Officer, PACE Development Corporation.
Sorapoj Techakraisri, Chief Executive Officer, PACE Development Corporation,
said, “This lagoon will become an iconic landmark for Hua Hin. It is the
first time that this cutting-edge clearwater technology is being introduced
to Asia and it will be a sensation. The lagoon’s water is always crystal
clear as it is constantly monitored and maintained through telemetry to
ensure the ‘paradise beach’ feel of turquoise waters edged with fine white
sand and trees.”
The quality of the water is maintained from a global control centre using a
system of filters and other technologies that ensure the virtual elimination
of all chemicals and chlorination which are reduced to less than 1% of what
is usually used in current pool technologies.
Kevin P. Morgan, CEO of Crystal Lagoons USA, Inc. said, “Thailand gives us
an outstanding strategic position in South East Asia, and the opportunity to
participate in a world-class development that adds prestige to our current
portfolio. We partnered with PACE because of their strong reputation and
successful track record.”
MahaSamutr is comprised of 81 private villas located around the clearwater
lagoon, ranging in size from around 550-600 sqm, on 200 sq wah of land, and
priced at Bht 40 million, upwards. The project is being built by one of
Thailand’s foremost contracting companies, Thai Obayashi.
MahaSamutr also has Hua Hin’s first Country Club that PACE says will provide
members and villa owners with “a level of service and facilities at their
vacation home that is unparalleled in Thailand.”
In addition to the prestigious country club, MahaSamutr offers villa owners
access to the Beach Club which is located in the middle of Hua Hin beach,
and offers al fresco dining as well as abundant parking facilities.
“It gives residents the luxury of having a place right on the edge of the
sea and a private facility from which to watch sunsets,” Sorapoj said.
He added that the Hua Hin property market was very robust for villas as the
supply of the highest quality properties was limited while demand for them
was increasing because of a rapidly growing urban wealthy class seeking
private villas and private gardens in the resort.
Sorapoj said that the approach of the ASEAN Economic Community had also had
a positive effect on demand for villas and that PACE was targeting overseas
buyers for around 25% of its MahaSamutr villas.
MahaSamutr is expected to be completed by the last quarter of 2015. Show
villas will be ready for viewing in Bangkok in November this year.
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Sansiri posts healthy mid-term results
Bangkok based developer Sansiri Plc. has announced that its performance
during the first half of 2014 generated a net profit of 1,367 million baht,
a noteworthy 214% growth or more than double the 434 million baht profit
achieved during the first half of the previous year.
Specifically, during Q2-2014 alone, the company generated 5,863 million baht
in sales, a growth of 41.2% from that of Q1-2014, as well as achieved 537
million baht in net profit. Seven more projects, both in Bangkok and
upcountry, are scheduled to begin their ownership transfers during Q3-2014,
further contributing to even greater revenue and profit for the company, as
part of its ‘Engineer for Growth’ business strategy.
A spokesperson for the company revealed: “We finished last year with a net
profit of 1,929 million baht. But this year, during the first half alone, we
have already achieved a net profit of 1,367 million. We anticipate that the
figures will be even more positive over the second half of this year when we
are scheduled to acknowledge much of our backlog revenue from ownership
transfers from up to 14 projects.
“In addition, with our new ‘Engineer for Growth’ business strategy now fully
implemented, we are even more confident that our net profit this year will
be significantly greater than that of last year. We have already seen
positive results from some of our short term business plans, which
contributed to a noticeably higher net profit during Q2-2014.
“We anticipate a lot more positive results coming from our mid-term and long
term plans as well. For example, our new ‘value chain’ operation – which
incorporates product design, procurement and construction teams into one
integrated unit – will significantly improve both our construction quality
and cost management. This should lead to notably fewer construction problems
and eventually translate into higher net profits for the company in the long
term.”
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Bhiraj Tower at EmQuartier
now 80% complete
An artist’s rendering shows the Bhiraj Tower at
EmQuartier.
Property developer Bhiraj Buri Group has announced that
its landmark office building Bhiraj Tower at EmQuartier, has already
confirmed occupancy of 20 per cent and the building is now over 80 percent
complete. Bhiraj Tower will be one of the company’s most significant and
important properties and is surrounded by some of the city’s most
established residential and commercial buildings.
The new office tower will feature 45 floors with a six-floor retail center
at the base. The total investment is 8 billion baht and the total office
space available will be 47,500 square metres with a direct link to BTS Phrom
Phong station. The building will also feature 570 square metres of meeting
facilities, spectacular views of Benjasiri Park and a rooftop helipad with
private lounge.
Pitipatr Buri, Executive Director of Bhiraj Buri Group said: “The Bhiraj
Tower at EmQuartier is an exciting project that will attract international
and local businesses alike and will provide a flexible environment that
caters to tenants’ professional lives and their everyday living demands.
“Bhiraj Tower is attracting interest from both Thai and foreign companies
and we expect more attention when the AEC progresses next year,” he added.
Nitipat Thongpan, Executive, CBRE Thailand, International Real-estate
Consultancy, commented that, “Premium office space in prime locations is
scarce and we believe this project will be a huge draw for companies wanting
to relocate to this prestigious Sukhumvit address.”
Bhiraj Tower at EmQuartier is expected to be ready for its first tenants by
the end of 2014.
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Starwood expands presence
in Thailand with Sheraton Samui Resort
(L to R): June Ng, Regional Director HR,
Starwood Hotels & Resorts, Indochina; Serena Lim, Vice President,
Acquisitions & Development, Starwood Hotels & Resorts, Asia Pacific; Matthew
Fry, Senior Vice President, Acquisitions & Development, Starwood Hotels &
Resorts, Asia Pacific; Charoen Sirivadhanabhakdi, Chairman TCC Group;
Wallapa Traisorat, President TCC Group; Soammaphat Traisorat, CEO TCC Group;
and Georges Baurin, EVP-Asset Management, International Branded Hotels in
Thailand, TCC Hotels Group, all pose for a photo during the signing ceremony
for the soon to be rebranded Sheraton Samui Resort.
Starwood Hotels & Resorts Worldwide, Inc. has announced
its world-renowned Sheraton brand will continue to expand its footprint in
Thailand with the signing of Sheraton Samui Resort in Koh Samui. The
agreement with TCC Hotels Group, a member of the TCC Land Group, marks the
conversion of the existing 141-room Imperial Samui Beach Resort to a
Sheraton, anticipated to take place by December 2014.
“We are pleased to be able to continue the partnership and further
strengthen our relationship with TCC Hotels Group, one of the leading
developers in Thailand, on this conversion in Koh Samui, a popular resort
destination,” said Lothar Pehl, Starwood Senior Vice President, Operations
and Global Initiatives and Regional Vice President, Thailand, Cambodia and
Vietnam. “Sheraton is a global icon, with a strong reputation in key feeder
markets for this location, and the hotel will strengthen our growing
presence in Thailand.”
Sheraton Samui Resort marks the 7th property managed by Starwood under the
ownership of TCC Hotels Group and is testament to the strength of the
relationship. The other six properties that have resulted from the long-term
partnership in Asia Pacific include the Le Meridien Angkor, Le Meridien
Bangkok, Le Meridien Chiang Mai, Vana Belle, a Luxury Collection Resort, Koh
Samui and The Westin Kuala Lumpur; alongside Plaza Athenee, a Royal Meridien
Hotel that recently re-committed to an extension under Starwood’s
management.
Approximately a 15-minute drive from the Koh Samui International Airport,
Sheraton Samui Resort sits on Chaweng Noi Beach, one of the most beautiful
stretches of white sand on the east coast of Koh Samui.
“The expansion and rebranding underscores TCC Hotels Group’s confidence and
commitment to the future of Thailand’s tourism industry as it continues to
embrace the advent of the ASEAN Economic Community in 2015,” highlighted
Wallapa Traisorat, President of TCC Hotels Group, a member of the TCC Land
Group.
Matthew Fry, Senior Vice President of Acquisitions & Development, Starwood
Hotels & Resorts, Asia Pacific, added: “Starwood has developed a
conversion-friendly strategy for existing hotels to meet the demands of
owners and guests. With our powerful platforms, we are able to help our
partners reposition existing assets in a cost-effective manner. Given that
many are well-located but under-branded hotels, they present untapped
opportunities for Starwood and is another channel for our growth. Thailand
has already seen three conversions in the past few years.”
Sheraton Samui Resort is the newest addition to Starwood’s dynamic portfolio
of 23 properties in Thailand under eight of its brands: St. Regis, The
Luxury Collection, W Hotels, Sheraton, Westin, Le Méridien, Aloft and Four
Points by Sheraton. Sheraton currently operates five hotels in the Thai
kingdom, including Royal Orchid Sheraton Hotel & Towers, Sheraton Hua Hin
Resort & Spa, Sheraton Hua Hin Pranburi Villas, Sheraton Krabi Beach Resort,
and Sheraton Pattaya Resort.
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