Sansiri unveils flagship THB8.5 billion luxury condominium in Bangkok

BANGKOK (March 9): Thai developer Sansiri Public Co Ltd today unveiled its THB8.5 billion (RM1 billion) flagship project 98 Wireless on Wireless Road, an exclusive tree-lined boulevard here.

"Real estate is all about location. This location is unrivaled to none in terms of craftsmanship and location, and it is freehold, which is super rare especially in Bangkok," said Sansiri CEO Apichart Chutrakul at a press conference today.

Occupying 0.83 acres, 98 Wireless offers 77 luxury condominium units in a 25-storey condominium.

Construction is nearing completion and the project will officially start selling upon the project's completion slated in October 2016.

The residential tower will offer 2 to 3-bedroom units, penthouses, and a “super penthouse” named “The One” located on the building's top two levels.

The residences range from 120 sq m to 948 sq m in size and is priced at an average THB550,000 per sq m.

According to Apichart, The One has been sold for THB600 million, while the project has achieved a 20% take-up rate to date.

The company believes the development will respond well to the demand of the elite market and anticipates a 60:40 mix of local and foreign buyers respectively.

Surrounded by embassies, Bangkok's historic landmarks and located close to Lumpini Park and shopping districts, 98 Wireless’s parcel was acquired by the developer in 2010 at a record price of THB1.5 million per square wah (1 wah = 43.05 sq ft).

The developer estimates the land price on Wireless Road to reach THB2.8 million per square wah in 2017.

After acquiring the land, the developer spent five years designing and planning the project.

"We took our time to build something special that Sansiri, Thailand and South East Asia can be proud of," said Apichart.

"Today, the estimate value of land on Wireless Road soars by 70% on average each year, more than double when compared to Silom and Sathorn Roads [which appreciate] at approximately 33% annually. Therefore, each deal on Wireless Road's piece of land always hits a new record high," he added.

98 Wireless is designed by interior design firm Anne Carson Interiors, architect firm DWP Design World Partnership, landscape architect firm TROP Terrains + Open Space, structural engineering firm Meinhardt, and acoustic engineering firm Palmer Acoustics.

While the building facade draws inspiration from classical European and American Beaux-Arts, its interiors are exclusively furnished by Ralph Lauren Home.

Of all fully-fitted units, four are exclusively furnished and comes with the Ralph Lauren Home collection, said Anne Carson of Anne Carson Interiors at the event today.

The condos will come with underground parking space where each unit will have two to five car parks, as well as private lift access.

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