Tall & Urban News

New High-Rise Condominium to be Developed in Bangkok

Altitude Unicorn Sathorn-Tha Phra will be a 34-story high-rise condominium in Talat Phlu.
Altitude Unicorn Sathorn-Tha Phra will be a 34-story high-rise condominium in Talat Phlu.
01 July 2019 | Bangkok, Thailand

Thai property developer Altitude Development Co. Ltd. has joined Japanese property firm Creed Group to develop Altitude Unicorn Sathorn-Tha Phra, a high-rise condominium in Talat Phlu, Bangkok, worth BT฿2.4 billion (US$78 million).

Altitude Development will hold 51 percent of the total stock in this project, while Creed Group will hold the other 49 percent. Altitude Unicorn Sathorn-Tha Phra is set to be the first and flagship development of the joint venture. They plan to cater to market needs and leverage the city’s expansion along new BTS lines, Altitude’s CEO Chayaphon Hunrungroj said at a press conference on 27 June 2019.

Creed Group has experienced solid growth in Japan and other Asian countries, including Malaysia, Cambodia, Vietnam, Myanmar, Indonesia, Laos, and Bangladesh, with its Gross Development Value (GDV) rising above BT฿24.5 billion (US$800 million). Creed Group is looking to further expand its real estate investments in Southeast Asia, seeing Thailand as a priority in the market.

“The partnership between Altitude Development and Creed Group is the beginning of a new joint investment strategy and business expansion for both parties,” Chayaphon added. “We will grow together by increasing the values of each of our own property businesses as well as sustainably growing our revenues and profits.”

Toshihiko Muneyoshi, the founder and managing director of Creed Group, said that the company has successfully developed real estate projects in a number of countries, and that Thailand was a strategic market for them to grow their regional presence.

“Altitude Unicorn Sathorn-Tha Phra will be a 34-story high-rise condominium connected to Talat Phlu BTS Station by skywalk, offering unrivaled convenience for residents.”

“We will focus on premium condominiums in upcoming locations and outstanding developments with comprehensive facilities. Altitude Unicorn Sathorn-Tha Phra fits this perfectly and is our first [Thai] development together with Altitude Development,” Muneyoshi said.

Altitude Unicorn Sathorn-Tha Phra will be a 34-story high-rise condominium connected to Talat Phlu BTS Station by skywalk, offering unrivaled convenience for residents.

Located on 2 rai (0.32 hectares) of land, the development comprises 711 units in four various types: one bedroom, with a unit area of 23 square meters; one bedroom plus, with a unit area of 37 square meters; one plus one bedroom, with a unit area of 39 square meters; and one plus one bedroom loft, with a unit area of 58 square meters. Unit prices start from BT฿2.19 million (US$71 million), with construction scheduled to start in this year’s third quarter, with a projected completion in the third quarter of 2021.

Altitude Unicorn Sathorn-Tha Phra offers a comprehensive range of facilities, including an intelligent co-working space with an auditorium, as well as a reception and service bar designed by Fallabella–a meeting location offering coffee and tea during the day and cocktails in the evening.

Other facilities include a community kitchen, mini-theater, and an e-sports room. The Grand Canyon-inspired swimming pool offers a place to relax and unwind, while the fitness center boasts a climbing wall, yoga area, and even a boxing ring.

For more on this story, go to Thailand Construction News.