It will be the only luxury project to have a private bowling alley for residents. Atop its two towers - one rising 35 floors and the other 24 - it will sport cathedral-like roofs.

Even its name, which derives from Saint Augustine, is one that is seldom used by developers.

These special touches come from the fact that its developer, Major Development - being the property arm of the Major cinema group - has a flair for theatrics. However the entertainment and real-estate companies are run separately.

Most distinctive was the time of Aguston's launch date, falling a few hours before the coup d'etat on Tuesday.

Auspicious moments do not come any more spectacular than that.

To be sure, the success of the dramatic but peaceful transition of power should bode well for Aguston. In many ways, Major Development picked an unusually fortuitous time to announce its latest endeavour.

While other housing projects were announced that day, they were "relaunches", or projects that were making a renewed push for sales.

Indeed, Auguston came as a surprise to the luxury market, which has seen a prolonged slowdown in take-up rates since last year.

Major Development, which has three other inner-city sites - Hampton, off Sukhumvit 55, Fullerton at Ekamai, and Manhattan on Phetchaburi Road - is no stranger to the competitive world of marketing residences.

Of late, the firm has learned not to price its units too aggressively, while being able to provide value for buyers with fitted units.

Aguston's starting prices will be about Bt80,000 a square metre for the lower floors. Its overall value is about Bt2 billion, and its two towers are being built on a three-rai plot. Heading the company is Suriya Poolvoralaks, managing director of Major Development.

Having completed his doctorate in economics, Suriya recently took up the top post at the firm, which was founded by his father, Chamroen, a key pioneer of Thailand's cinema industry.

Major's other projects include the riverfront project called Watermark.

Itthi C Tan

The Nation