Sorapoj Techakraisri, CEO of PACE Development Corporation Plc. confirms that progress of his company’s headline making MahaNakhon development remains on target. The landmark tower is currently under construction and scheduled to be finished in the last quarter of 2015.
MahaNakhon is a high-end mixed-use development comprising 200 units of the world-renowned and prestigious Ritz-Carlton Residences, the Bangkok Edition Hotel, and MahaNakhon “CUBE” Lifestyle and Retail Center.
Mr. Sorapoj says that sales of the Ritz-Carlton Residences have now exceeded the 2013 planned goal by 10 percent already. At the end of this year the company plans to promote the residential units at a roadshow in Singapore.
“The continuously increasing sales of MahaNakhon proves that demand in the high-end luxury segment of the market is still growing, which can be clearly seen from the positive response of international buyers,” said Sorapoj. “From PACE’s experience, a key decision making factor for buyers of The Ritz-Carlton Residences has been the assurance of an international hotel operator brand experienced in ensuring the highest standard specifications, as well as delivering quality property management.”
Mr. Sorapoj was recently named Real Estate Personality of The Year 2013 at the annual Thailand Property Awards event in Bangkok. PACE also earned awards as highly commended luxury developer, and The Ritz-Carlton Residences were recognized with a highly commended award in the Bangkok luxury condominium development category.
Construction of the seven-floor 5,200 square meter MahaNakhon “CUBE” Lifestyle and Retail Center has progressed well and is now over 90 percent complete. The first phase of “CUBE” is scheduled to be opened at the end of 2013 and some high name brands are already signed up to conduct business there.