Thonglor commands highest monthly rental rates in Bangkok of 1,000 baht/ sq.m JRE Development appointed to manage both developments and target Japanese expat tenants

The Thai-Japanese collaboration of Habitat Group and List Group underscore their confidence in Bangkok’s Thonglor area with a 2.8 billion baht investment in two new luxury low-rise condominiums – Walden Thonglor 8 and Walden Thonglor 13. Teaming up with Thai-based Japanese property management specialists JRE Development, a subsidiary of JALUX Inc. in Japan, the two developments will have strong appeal to the burgeoning Japanese expat market who have a high affinity with the Thonglor area of Bangkok.

Mr. Chanin Vanijwongse, Chief Executive Officer of Habitat Group shared, “Walden Thonglor 8 and Walden Thonglor 13 offer something new for investors and residents interested in the Thonglor area of Bangkok. Both condominiums are of a specification more normally found at developments with a much higher price tag, and their designs build on the award-winning principles of the Walden brand.”

“Thonglor is a growth area with strong appeal for investors and healthy rental potential, particularly amongst Japanese expats. Thonglor commands the highest rental rates in the city reaching 1,000 baht/ sq.m., and delivers an average capital gain of more than six percent annually. There are many Grade A office buildings in the area, together with lifestyle facilities such as shopping and dining, education and healthcare, however, there is limited supply of property that has investor appeal, and with more than seven years experience in developing properties-for-investment this is our competitive advantage for Walden Thonglor 8 and Walden Thonglor 13.”

Joint venture development partner, List Group, bring with them an international perspective and international sales through their overseas List Sotheby’s International Realty network.

Mr. Yasushi Yamada, Chief Operating Officer of List Holdings Singapore Pte. Ltd. and Chief Operating Officer of List Sotheby’s International Realty, Thailand commented, “Walden Thonglor 8 and Walden Thonglor 13 are our first developments in Thailand and we are excited to be working with such an esteemed developer as Habitat Group. We bring to the joint venture almost 30 years of brokerage, development and property management experience in Japan and an extensive overseas sales network through our List Sotheby’s International Realty, as well as access to the global network of Sotheby’s International Realty consisting of nearly 1,000 offices in 71 countries. Thailand’s luxury condominium market remains strong and we expect a lot of interest from overseas buyers looking to invest, especially from Japan, Hong Kong and Singapore. Walden Thonglor 8 and Walden Thonglor 13 are in prime locations, offer unrivalled quality and a rental management scheme is provided by leading management company, JRE Development – all of this will give confidence to investors.”

Walden Thonglor 8 and Walden Thonglor 13 are the next evolution of the Walden brand. With a clear vision and understanding of the needs of the target market, both developments have a strong wellness ethos; extensive water features and pools, fitness, and luscious landscaping and rooftop gardens, provide a sanctuary of relaxation in the heart of Thonglor and a solid investment platform for savvy investors.

Located on Soi Thonglor 8, Walden Thonglor 8 is a luxury low-rise eight-storey condominium, consisting of 117 units located just 100 metres from the main road. There are four types of units; One Bedroom (32.5 sq.m.), One Bedroom Plus (42-46 sq.m.), Two Bedroom (49-55 sq.m.) and Two Bedroom Deluxe (61-71 sq.m.). Prices start from 7.9 million baht.

Walden Thonglor 13 is also a luxury low-rise eight-storey condominium and comprises 122 units. There are three types of units; One Bedroom and One Bedroom Plus (35-46 sq.m.), and Two Bedroom (55-66 sq.m.). Prices start from 6.9 million baht.

Property management specialists, JRE Development will manage Walden Thonglor 8 and Walden Thonglor 13. JALUX was founded in 1962 in Japan and has extensive experience managing property and in the real estate business in Japan with an average occupancy of over 95% from a total of 3,500 units. JALUX entered the Thai market by setting up JRE Development in 2015, and in 2017 opened its own development, L’axe Sriracha JALUX Serviced Residence in Sriracha, which is home to the largest Japanese community on Thailand’s east coast.

Currently there are more than 70,000 Japanese that live and work in Thailand, as well as a growing number of Japanese who travel to Thailand for business. These numbers are expected to increase over the next five years with the growth of new businesses in the EEC zone. JRE Development  is working closely with Habitat Group and List Group to create facilities and services that appeal to the Japanese expat market.

Mr. Masashi Higuchi, President of JRE Development commented, “Walden Thonglor 8 and Walden Thonglor 13 are quality condominiums with full facilities and we will be adding a level of service similar to a Serviced Apartment like L’axe Sriracha JALUX Serviced Residence something that has never been seen in Bangkok before. We will offer tenants opt-in services that include everything from house-keeping and room maintenance, to Japanese Internet TV, shuttle services and airport transfers, tenant liability insurance and 24-hour emergency assistance. We will also have a dedicated Japanese-speaking team who are experienced in managing the needs of Japanese clients, as well as English and Thai speaking teams to support all clientele and ensure they receive the highest level of service.”

As sole agent for both developments in the domestic market, CBRE Thailand will be driving sales in Thailand. Speaking of the Thonglor area and Bangkok’s luxury property market, Ms. Aliwassa Pathnadabutr, Managing Director of CBRE Thailand said, “Thonglor is one of the prime locations for residences and properties-for-investment because it is a lifestyle destination in the heart of Bangkok, and is surrounded by famous restaurants, community malls and leading shopping malls, all of which responds to an urban lifestyle. The majority of condominium developments in Thonglor are luxury and super luxury high-rise developments with prices over 300,000 per sq.m. Walden Thonglor 8 and Walden Thonglor 13 offer something different; both are luxury low-rise condominiums with similar complete facilities and services, are located in the heart of Thonglor with easy access, and are near to the BTS. Reasonably priced, units are functionally designed. Combined with concierge service and professional rental management, Walden Thonglor 8 and Walden Thonglor 13 respond to the needs of customers looking for a residence in the heart of Thonglor as well as those looking to invest and enjoy a rental return.”

Construction of both developments will begin Q1/2020 and expect to complete Q1/2022.

Habitat Group and List Group will be hosting VVIP days for Walden Thonglor 8 and Walden Thonglor 13 on 26 and 27 October, 2019 at Habitat Group’s new Sales Gallery on Soi Thonglor 5. Special offers of up to 400,000 baht are available for customer’s who attend and purchase on those days. For more information, please visit https://www.habitatgroup.co.th/walden_thonglor/ or call 091-713-1111.