Cevas Properties Co., Ltd., a new developer and a joint venture between Thai and Hong Kong, launches a super luxury condo as the first project under the brand, “NIVATI.” The project will be a 7-storey condo with 52 units worth 1.6 Billion Baht with unit prices starting from 17 Million Baht. The company aims to launch both high-rise and low-rise. It is determined on super luxury product development with elegant design and superb materials specifications, focusing on locations in Asoke to Ekamai.

Mr. Douglas Cheung, CEO of Cevas Properties Company Limited disclosed that Cevas Properties Co., Ltd, joint venture between Thai and Hong Kong with a 79:21 ratio, was founded to develop super luxury projects. In the first 5 years, the company aims to develop projects on locations from Asoke to Ekamai, covering both condominium and villa, focusing mainly on upper-end segment. There will be 2-3 new projects launched each year based on market condition. Each project is worth around 1.5-3 billion baht.

“Asoke to Ekamai are one of the prime areas in Bangkok. Although, they are high competitive areas, but our strength is being able to translate great design and best materials into reality. Both Hong Kong and Thai team do have their experience and expertise in the related fields, understand market situation and customer requirement. We also have a strict guideline of quality control. We are able to ensure the integrity of the product and the original intent of the design being translated properly.” Cheung said.

For the first project, the company set up its subsidiaries under the name “888 Thonglor Company Limited”, launching condominium project “NIVATI”, a 7-storey condominium with 52 units worth 1.6 Billion Baht in Thonglor area where land value is very high in Bangkok as it is only one location where business and lifestyle venues are well mixed.

Mr. Vivat Phiphaksamut, CEO of 888 Thonglor Company Limited by Cevas Properties, the developer of luxury condominium under the brand, “NIVATI,” disclosed that with his experience in contractor field for over 30 years, he made a decision with Douglas and his companions to set up a company, launching property development projects. We aim at A customers in Thailand and overseas and locations from Asoke to Ekama,i a prospect demand with strong purchasing power. Even for those buying for rent, tenants will be also those with strong purchasing power which is a lower-risk segment. This segment also has more rooms for developer to gain market share.

“Meanwhile, a condominium segment with unit prices of 1 million baht or more has many players. As a new entrant, we may not fit to jump into a red ocean market. Additionally, I’m familiar with this area, working and hangout. So I would like to start from here. And also my team always seek land plots in this area. Project Development in this location drives us to do a luxury project,” Mr. Vivat said.

According to a market study on Thonglor area by Nexus Property Marketing Co., Ltd., the project’s marketing and sales consultant, it found that:

Supply

In 2017, property developers remain confident in a growth of condominium market in Thonglor area consecutively. During the past two years until the third quarter 2017, the number of supply in this location totaled 1,130 units. From the first to third quarter of 2017, there were 4 new projects launched with the total of 515 units, representing property developer’s strong confidence on this location.

Demand

From the past two years to the third quarter of 2017, the condominium supply launched in Thonglor area recorded 671 units sold or 59% of the total of 1,130 units with an average sales rate of 16 units per month, representing a consecutive growth of condominium demand.

Price

In Thonglor area during the past two years, developers introduced super-luxury projects which had a high competition. But in 2017, many developers including large and new ones are interested in low-rise luxury and high-rise premium project development. They introduce uniqueness of the project, different selling points and attractive selling prices which draw consumer’s interest in Thonglor area where selling price is 275,000 Baht per square meter.

Condominium Market in Thonglor Area and Investment

Condominium in Thonglor area has high potential to renting out. Average rental rates for luxury condominium unit range between 1,000—1,200 Baht per square meter per month. Many projects use this attractive rental rate to boost sales at the project which can help those buying for rent. Main tenants are Japanese family working in Bangkok.

“NIVATI” is a 7-storey luxury condominium with 52 units worth 1.6 Billion Baht. Unit prices start from 17 Million Baht to the maximum 63.89 Million Baht. It will be located on a plot sized 1-1-34 rai on Thonglor Soi 23, a location where lifestyle and business venues are well mixed which is an endless charm of Thonglor area. The concept of the project is ‘Elegant Classic Contemporary’ with outstanding design of ‘Timeless Classicism of the Architecture.’ At the project, premium materials are selected for luxury and elegant feeling. Both interior and exterior designs reflect a high art working in every window and every door. The building’s exterior is decorated with limestone in earth tone which reflects contemporary classic, elegant and homey for residents to charge their energy for the world of working and lifestyle at a full power. Common facilities are inclusive for both function and design features like luxury lobby with mini bar, business lounge, swimming pool, fitness, automatic underground car parking with up to 78 car park lots and 24-hour security system. Materials specifications which are selectively chosen are all imported with high-end quality such as Poggenpohl—one of the world’s top 3 luxury kitchen brands, kitchenware from Siemens, sanitaryware from Dornbracht and Gessi from Italy and Villeroy & Boch—sanitaryware from Germany. The project will have only 52 units for resident’s privacy. Unit types comprise 1 bedroom with unit sizes starting from 70.80 square meter, 2 bedroom from 104.4 square meter, 3 bedroom at 178.9 square meter and duplex sized 110-221 square metre. Construction will start in the fourth quarter of 2017 and is scheduled for completion in the first quarter of 2019.

Marketing and sales at “NIVATI” is managed by Nexus Property Marketing Co., Ltd. The project is ready for an official launch at VIP Sales on 16 September 2017 at Grande Centre Point Thonglor at 10.00 – 18.00 hours with special privileges*. For more information, please visit www.nivaticondo.com or call 095-914-9888.