“ALTITUDE DEVELOPMENT” makes an entrance to the Ultra Luxury Market by investing billions to create a luxury house brand along the Chao Phraya River
“Altitude Development” continues to expand their business portfolio by joining forces with world-class partners to enter into the real estate market at the ultra-luxury level. They have invested 2,735 million baht into a new flagship known as “THE COLLECTION RIVERFRONT BY ALTITUDE”, a project that comprises of single houses along the iconic Chao Phraya River, the only location of its kind in Thailand. Exclusive to only 11 families, prices start from 115-515 million baht.
Mr. Chayaphon Hunrungroj, Chief Executive Officer of Altitude Development Co., Ltd. and real estate developer under the “Altitude” brand, revealed that the overview of the ultra-luxury home market has grown globally in the past, due to the demand far exceeding the development, especially where housing along the river or along the coast is concerned. This trend in demand has been noticeable in countries across Europe and Asia, including California and Florida in the United States, Dubai in the UAE, and Hong Kong as well as Thailand.
In Thailand, based on information gathered from the Property Research and Valuation Information Center, it has been found that there has not been a new development of single-house projects by the river in the heart of the city due to the fact that the cost of land around the area has increased by 400% within a span of 10 years.
“Altitude has seen this growth trend in many countries, but not yet in Thailand. This growth trend includes residents, investors, and foreigners who are looking for ultra-luxury single houses along the Chao Phraya River. In preparing for the trend, there is now the idea of using the stretch of land by the river in Charoen Nakorn, consisting of over 5 rai; which is a mere five minutes from the heart of the city that includes Siam, Sathorn, and Icon Siam. Altitude will be developing this one and only iconic housing project in Thailand,” said Mr. Chayaphon.