Ben
Ben

Tallest residence on Chao Phraya features 

Real Estate February 12, 2018 01:00

By   CIMI SUCHONTAN
THE NATION

WITH FRIDAY’S topping-off ceremony for the Four Seasons Private residences, the Bt21-billion riverside apartment project will be the tallest on the Chao Phrya at 74 floors.



 

Country Croup Development (CGD) now aims to hand over units to buyers this October.

“Top executives from US-based Four Seasons, Beijing Construction Engineering Group and Ping An Bank honoured us by attending the event,” said CGD chief executive officer, Ben Taechaubol. These key stakeholders were “all very pleased with our progress”.

 “Ping An provided the project financing worth US$375 million (Bt11.87 billion),” he noted in an interview with The Nation. The China-based lender is also expected to serve many Mainland Chinese buyers with mortgage facilities.

Some “55 per cent of the buyers are from overseas,” said Ben.

“To date we have sold 70 per cent of 355 units that have a leasehold period of 75 years, comprising three contracts, with each running 25 years.”

Owners will enjoy spectacular views of the river near Sathorn Bridge as well as landmarks such as the Shangri La, Peninsula and Oriental.

At Bt350,000 per square metre, the units start at about Bt40 million and they have Global construction giant Beijing Construction completed a floor every six days, to deliver a timely finish, said Ben of the engineering feat that took less than two years.

The four-bedroom units on the lower floors are already completed and fitted out, said Ben.

The smallest one-bedroom units are 137 sq m, while a five-bedroom unit spans about 500 sq m.

Of the outlook for business, Ben said he saw “greater stability that has led to investment gathering pace”.

Four Seasons Bangkok will open at the same time as the residences, he said. The second hotel Capella is expected to open a few months later.

Ben also said the company will later this year announce a new mixed-use project by the waterfront, on Rama III Road. “It will not be super luxury, but a middle- to high-end product.”

The company, which also has an investment company in the UK, last year acquired a school In Brighton for more than Bt880 million.