Altitude Development joint venture with Japan’s Creed Group
Launch “Altitude Unicorn Sathorn-Tha Phra” targeting Millennials and young entrepreneurs
in up-and-coming area of Talat Phlu
BANGKOK, Thailand – Altitude Development and Creed Group join forces to develop Altitude Unicorn Sathorn-Tha Phra, a high-rise condominium in Talat Phlu, worth 2.4 billion baht. Talat Phlu is an up-and-coming lifestyle area near the CBDs of Bangkok conveniently accessed by the BTS Green Line, and Altitude Unicorn Sathorn-Tha Phra is connected by skywalk direct to Talat Phlu BTS Station. Condominiums start from 2.19 million baht.
Speaking of the company’s strategic plan, Mr. Chayaphon Hunrungroj, CEO of Altitude Development Co., Ltd., said, “Our current and future focus is on high value strategic development sites, in particular those located in the city center and close to Bangkok’s mass transit systems. To support our growth we will partner with leading international property professionals.”
In this regard, Altitude Development have signed a joint venture agreement with Creed Group, a company with a strong track record of developing real estate in Japan. Since 2012, Creed Group have experienced solid growth in Japan and other Asian countries such as Malaysia, Cambodia, Vietnam, Myanmar, Indonesia, Laos and Bangladesh, and its Gross Development Value (GDV) is over US$800 million. Creed Group are looking to further expand their real estate investments in Southeast Asia and Thailand is a priority market.
“The partnership between Altitude Development and Creed Group is the beginning of a new joint investment strategy and business expansion for both parties. We will grow together by increasing the values of each of our own property businesses as well as sustainably growing our revenues and profits,” Chayaphon added.
Mr. Toshihiko Muneyoshi, Founder and Managing Director of Creed Group shared, “We have successfully developed real estate projects in a number of countries and Thailand is a strategic market for us to grow our regional presence. We will focus on premium condominiums in upcoming locations, outstanding developments with comprehensive facilities, and Altitude Unicorn Sathorn-Tha Phra fits this perfectly and is our first development, together with Altitude Development, in Thailand.”
This joint venture company is Altitude Creed Talat Phlu Co., Ltd. in which Altitude Development holds 51% of the total stock and Creed Group holds 49%. Altitude Unicorn Sathorn-Tha Phra is set to be the first and flagship development, it will cater to market needs and leverage the city’s expansion along new BTS lines.
Altitude Unicorn Sathorn-Tha Phra is a 34-storey high rise condominium connected to Talat Phlu BTS Station by skywalk, offering unrivaled convenience for residents. Located on 2 rai of land, the development comprises 711 units in four different types, including: One Bedroom, with the unit area of 23.64 – 24.53 sqm; One Bedroom Plus, with the unit area of 36.98 sqm; One Plus One Bedroom, with the unit area of 39.08 – 57.78 sqm; and One Plus One Bedroom Loft, with the unit area of 57.01 – 69.28 sqm. Unit prices start from 2.19 million baht. Construction is scheduled to start in Q3/2019 and is expected to be complete Q3/2021.
Mr. Kwanchai Yingcharoenthawornchai, Managing Director of Altitude Development Co., Ltd., commented, “Talat Phlu has become a new business district in Bangkok and Altitude Unicorn Sathron-Tha Phra is the company’s flagship development. It will inspire a new way of living and targets the new generation who prefer to live near CBDs such as Siam, Silom or Sathorn. Altitude Unicorn Sathorn-Tha Phra is located in the heart of this prime area with convenient connections. Linked to the BTS, residents can travel to other parts of the city and be at their workplaces within minutes, and we are also within easy driving distance of areas such as Silom, Sathorn and Siam.”
Altitude Unicorn has a clear ethos; to create a space for its residents where they can relax and reboot. The development’s modern architectural style and unique facilities, with co-creation at the heart, fits the ideals of Millennials and start up entrepreneurs who wish to be successful in both their private life and business.
Altitude Unicorn Sathorn-Tha Phra offers a comprehensive range of facilities including an intelligent co-working space with auditorium; reception and service bar designed by Fallabella –
a meeting place, which offers coffee and tea during the day and cocktails in the evening; co-creation kitchen; mini theatre; and an e-sports room. The Grand Canyon-inspired swimming pool offers a place to relax and unwind while the fitness centre – which comes complete with climbing wall, yoga area and even a boxing ring – is a space where residents can focus on their health.
Stressing the development’s prime location and connectivity, Kwanchai added, “We expect Altitude Unicorn Sathorn-Tha Phra to be a hit with young professionals and entrepreneurs. Our convenient skywalk access to Talat Phlu BTS Station on the Green Line provides easy access to city center stations like National Stadium (in front of MBK), as well as Siam, Ratchadamri, Silom, Sathorn, Saphan Taksin and more. Expansion at the Ratchapruek – Petchakasem junction will see the line expand towards Taling Chan and link with the Blue Line at the nearby Bang Wa Station in the future, underscoring Talat Phlu’s prime location and an area which we expect to continue to grow.”
Coupled with convenient access to The Mall Tha-Phra, ICONSIAM, Asiatique, and many popular local street food and dining places nearby, residents are spoiled for choice when it comes to recreational activities and lifestyle.