Sivana Hills

By The Nation
Published on December 19, 2008

The Sivana Hills luxury Pool Villas

UK award for Hua Hin villas

A luxury residential development at Hua Hin, The Sivana Hills Luxury Pool Villas, has won a silver award in the Best Development, Thailand, category of the prestigious UK Homes Overseas Awards.

The awards claim to reveal the cr�me de la cr�me of the overseas property industry.

The awards took into consideration various requirements for a successful devel�opment, including quality, design, location, ease of access, value for money and leisure facilities.

The judging panel was made up of local and international property journalists with extensive exposure to projects around the world. - The Nation

serviced apartments

KS Fortune invests Bt1 bn

Property firm KS Fortune has invested more than Bt1 billion in a largescale serviced apartment building in Bangkok called Narathiwas Residence.

The company bought two 27storey towers of the Bell Park condominium in Soi Narathiwas 24, off Sathorn Road, and created 326 apartments targeting corporate customers.

The project's assistant general manager Krit Pothisoonthorn said the buildings had about 50 per cent occupancy five months after their opening. The company targets 60 per cent occupancy at the end of this year and 80 per cent next year.

Monthly room rates range from Bt31,000 for the smallest 42squaremetre room to Bt140,000 for a penthouse. The company is offering only a 30day minimum stay because it has yet to receive a hotel licence. - The Nation

london offices

IVG sells bank's former HQ

IVG Immobilien, Germany's largest commercial realestate company, has sold the former London headquarters of Lloyds TSB Bank Group to an unidentified sovereign wealth fund for about �125 million (Bt6.66 billion).

IVG bought the building, in the city's main financial district, from Lloyds in 2002, the Bonnbased company said. The property has 16,220 square metres of floor space including restaurants, stores and a gym.

The building has been extended and refurbished since IVG bought it. Tenants include the OAO VTB Group, Russia's secondlargest bank. - Bloomberg

kazakhstan

Market recovery 'in a year'

Declining realestate prices in Kazakhstan may begin to recover by the end of next year as the supply of new apartments on the market begins to shrink.

Home prices will remain low in the short term on lower incomes and tight credit, the central bank said. They will begin to rise "no sooner than the end of next year" as banks sell fewer apartments received as collateral for loans and new residential construction becomes less profitable.

Lack of transparency in the real estate market and the reduced risk of bank failures as a result of state guarantees will contribute to lower apartment supply as investors are more likely to prefer fixedincome investments to property, the central bank said. - Bloomberg

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Sivana Hills

UK award for Hua Hin villas

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