Sansiri launches Ralph Lauren-styled luxe condo in Bangkok
By Michael Lim
/ The Edge Property |
Thai-listed developer Sansiri Public Co is planning to roll out its ultra-luxury condominium, 98 Wireless, in Bangkok in a global launch this October. The condo is located along the treelined boulevard of Wireless Road, in the heart of Bangkok’s most prestigious neighbourhood and the Embassy Row.
In the neighbourhood are the residence of the US Ambassador as well as the embassies of the US, the UK, France, Italy, the Netherlands and Vietnam. It is also where five-star hotels such as Plaza Athenee, The Okura Prestige, Mandarin Oriental and Conrad Bangkok are located. The high-end Central Embassy shopping mall is situated in the vicinity.
The 0.83-acre site on which 98 Wireless is sitting is the only freehold land parcel in the neighbourhood, says Apichart Chutrakul, CEO and co-founder of Sansiri. The address 98 is also auspicious in Thai culture, he adds. Since the company purchased the land six years ago, the price has doubled from THB1.5 million per sq wah to THB2.8 million per sq wah (one sq wah equals to 43 sq ft).
To differentiate 98 Wireless from the rest of the projects in the luxury space, Sansiri appointed the world-renowned Design Worldwide Partnership as the design architect for the Beaux-Arts-style façade and New York-based interior designer Anne Carson to style the reception area, amenities floors and five show units in collaboration with Ralph Lauren Home. “This is the third project in the world and the first in Asia in which Ralph Lauren Home has been involved,” says William Li, president of Ralph Lauren Home. The other two Ralph Lauren Home-branded properties are private homes in Moscow and France.
The 23-metre-high or four-storey-high ceiling has a grand chandelier specially made by Ralph Lauren Home
Source: Sansiri Public Co
High-end materials used include white oak flooring and mahogany door panels from the US, Moleanos limestone from Portugal and Carrara marble from Italy. Kitchens will be fitted with SubZero refrigerators and wine cabinets, Gaggenau appliances and SieMatic cabinetry, while bathrooms will have Lefroy Brooks and Kallista fixtures and accessories.
When completed in October this year, the 25-storey 98 Wireless will contain just 77 apartments, including a 10,204 sq ft super penthouse called “The One”. There are also two junior penthouses of 5,963 sq ft each. Typical units in the project are a mix of twoand three-bedroom apartments as well as three-bedroom duplexes, with sizes ranging from 1,292 to 3,940 sq ft.
To date, 20 units, including all three penthouses, have been sold in Thailand even without a preview. The super penthouse fetched a whopping THB600 million ($23.5 million), and the buyer was said to be a Thai business tycoon. The average price of the units sold at 98 Wireless was a record THB550,000 per sq m ($2,000 per sq ft). It is double the average price of luxury condos sold off-plan in Bangkok, which averaged THB275,000 psm last year, according to CBRE Thailand in its market outlook released on March 5.
The remaining 57 units in the condo will be reserved for the global launch in October across five cities, namely Hong Kong, Kuala Lumpur, Singapore, Taipei and Bangkok. Priced at an average of $2,000 psf, the twoto three-bedroom duplexes will have absolute prices ranging from $2.6 million to $7.9 million. “It may be considered expensive in Bangkok, but compared with luxury condos in cities such as London, New York and Singapore, it’s considered affordable,” says Sansiri’s Chutrakul.
This article appeared in the City & Country of Issue 720 (March 21, 2016) of The Edge Singapore.
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