Condos in Thailand’s iconic building for sale to foreigners

Friday, Jul 26, 2019 17:11

A skybar at the King Power Mahanakhon building. – Photo Courtesy King Power

Luxury condos in The Ritz-Carlton Residences located in the King Power Mahanakhon building in Bangkok will be offered to foreign customers including Vietnamese.

Developer King Power said that all condos had been sold, but 20 per cent of investors are re-selling their condos. So, this is the last chance for foreign customers to own a condo in the King Power Mahanakhon building, Thailand’s iconic landmark destination.

Located in the heart of Bangkok’s Sathorn and central business district, the freehold residences are situated on the 23rd to 73rd floors. Units range from 2-4 bedrooms, with sizes from 135 square metres to 447 square metres. Interested owners also have the option of combining units on the 59th floor to create up to 1,100 square metres of ultra-luxury living space.

In addition to premium amenities and legendary service from the Ladies & Gentlemen of The Ritz-Carlton, the units feature world-class bespoke interiors crafted by David Collins studio.

Luxurious facilities include a 54th floor Residential Club Lounge where owners can enjoy a library, bar, dining area, kitchen, lounge area, boardroom and TV room. Owners will also have access to a fitness center, swimming pool, private cinema, mini-bar, billiard room, games room, and children’s room, among other leisure amenities located on the 7th floor.

Marc Begassat, managing director of King Power Mahanakhon said, “It is truly a unique opportunity to own a residence within an iconic landmark, in one of Thailand’s tallest buildings. As we continue to create a destination that combines exceptional hospitality, award-winning cuisine, and world-class attractions, we look forward to offering owners a prestigious urban lifestyle experience that can only be found at King Power Mahanakhon.”

Available units at The Ritz-Carlton Residents in Bangkok start from VND31.5 billion (US$1.4 million) to VND190 billion ($8.2 million).

According to Euromonitor International’s Top 100 City Destinations 2018 report, Bangkok is the world’s second most visited city next to Hong Kong.

Properties in Bangkok are considered to have higher value for money compared to other major cities in Asia such as Singapore and Shanghai, according to CBRE’s fifth annual Global Living 2019 Report.

Under Thailand law, foreign ownership in a condo project is limited to 49 per cent. — VNS

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