Joint Venture Success in Thong Lor

Two new projects in Bangkok worth over 2.8 billion Baht by Habitat Group and List Group

Japan-based List Group, the parent company of List Sotheby’s International Realty, has entered into a joint venture partnership with leading Thai property-for-investment developer, Habitat Group.

Through this joint venture, Habitat Group and List Group will develop two luxury low-rise condominium projects in the Thong Lor area of Bangkok – the Walden Thong Lor 8 and Walden Thong Lor 13 – which will have a cumulative value of over 2.8 billion baht. The joint venture will also expand Habitat Group's sales reach and brand recognition internationally through List Sotheby’s International Realty brokerage network.

The Walden brand is about privacy, intimacy and charm. Modern in design, Walden low-rise condominiums merge luxury with nature in prime CBD locations and provide both a unique investment and residential opportunity for buyers.

Located on Soi Thong Lor 8, Walden Thong Lor 8 is a luxury low-rise eight-storey condominium, consisting of 117 units located just 100 metres from the main road. Units range from 32.5 to 71 sqm with an average price of 235,000 – 260,000 baht per sqm. Walden Thong Lor 13 is also a luxury low-rise eight-storey condominium and comprises 122 units ranging from 35 to 60 sqm at an average price of 185,000 – 220,000 baht per sqm.

Mr Chanin Vanijwongse, Chief Executive Officer of Habitat Group, which was founded in 2012, said: “Thong Lor has become a growth area in recent years in large part due to its prime CBD location and connection to Sukhumit Road, and as a result the area retains a lot of investment potential. Many Grade A office buildings and high-end residences are located in the area and this continues to drive property prices upwards. The easily accessible shopping, dining and leisure facilities are another driver that makes Thong Lor one of the top real estate investment areas in Bangkok.”

The prime location, high quality finishes and award-winning architectural style for which the Walden brand has become known and respected, make both developments ideal investment properties,” added Mr. Chanin.

Mr Hisashi Kitami, Founder, CEO & President of List Group, said: “Thailand is a key market for List Group, especially Bangkok, where we see the fundamentals are strong and expect growth in the luxury real estate segment to continue. We chose to work with Habitat Group due to their unique business strategy of developing premium properties for investment, their detailed market research, as well as their track record of developing quality, award-winning condominiums.”

“Our overseas real estate experience will bring an international perspective to the partnership and we will leverage List Sotheby’s International Realty's presence across the region and the worldwide network of Sotheby's International Realty to reach High Net Worth Individuals which we believe will be interested to invest in Walden Thong Lor 8 and Walden Thong Lor 13,” added Mr Kitami.