Blog
Enrich Breaking Through Super Luxury House Market
Raising ARCH Sukhumvit 39 for this year up-and-coming client’s demands
June 27, 2023
Enrich Group, joining forces with Saibu Gas Group, is in development of ARCH Sukhumvit 39, a super luxury house project of 65-133 million baht in the heart of Sukhumvit, surrounded by full facilities for urban lifestyle. Limited to only 12 houses, this project will satisfy the continuously increasing demand of the clients in this segment.
Ms. Suphicha Nutsuwanpol, Business Office Director of Enrich Group, described the real estate market direction in the second half of the year that seemed to grow well, especially for the clients of luxury and above groups who needed houses for actual living, and it was growing steadily and coming on strong this year. The development must suit the needs of the target group in terms of locations, qualities, designs and utility space functions.
Enrich Group has previously experienced working with Saibu Gas Holdings Co., Ltd., an over-90-year-old Japan’s leading energy company that invests in high-class real estate projects all over the world, in the development joint venture, The MARQ Exquisite Ratchaphruek-CharanSanitwong, the luxury single houses of 30 million baht starting prices. It was highly successful as it was sold out almost immediately even though the project was launched during COVID-19 pandemic thanks to the practical utility space interior design and the exquisite architecture, combining with the house tidying concept of Marie Kondo’s “KonMari Method” with her master consultant.
Mr. Anavach Chatsirikul, Director of Project Management of Enrich Group, said that what made their projects gain favorable responses was the insight data of luxury clients. Upon market survey, what really matters for luxury clients were 1. Location: convenient travel and full facilities within reach, 2. Design: suitable and beautiful utility space from well-known and creditable designers, with the designs that express clients’ identities and the use of high-quality material, equipment and construction, and 3. Privacy and Safety: clients can completely relax when they are home.
Ms. Suphicha added that, from the success of the past project developments and luxury clients’ insight data, Enrich decided to partner with Saibu Gas Group in a joint venture to develop ARCH Sukhumvit 39, a super luxury house project for clients looking for a residence in CBD. This is located in the prime location of Sukhumvit which is hard to find plots of land for development these days in oppose to housing demand as the area has potential with complete public utilities and facilities and is in the heart of Bangkok’s CBD.
The design of ARCH Sukhumvit 39 is modern classic focusing on ARC shape, making it outstanding. The distinguished interior includes an embracing space yet private and spacious, simple yet elegant design, green areas gradually expanding in every floor to allow natural light to fill every room and perfect room angles for utilities suitable for today’s lifestyle. The project of 12 houses situates on a 2-Rai land area with living space of 535-829 sq. m. featuring 4-5 bedrooms, 4-6 car parking spaces* and elevators. The price starts at 65 million baht and it will be officially launched on 8-9 July 2023.
This project is peaceful as it is in a soi in a residential neighborhood, just a 1.5-km. to Thong Lor and Phrom Phong BTS stations and connected to main roads like Sukhumvit, Petchburi and Rama 9, surrounded by full facilities and within reach of a world-class shopping complex “The EM District”, BTS stations, international schools and top hospitals.
“For every development, we’re still true to our concept ‘Guiding You to Practical Living’ which allows the residents to live truly happily in our homes. Likewise, ARCH Sukhumvit 39 offers the residence in the heart of Sukhumvit. Besides the convenient traveling that solves what people in this area are always worried, it is so close to much needed facilities while still offers privacy and nature with the unique design in terms of proper utility spaces and aesthetic, which also deems necessary for the people here”, said Ms. Suphicha.
Mr. Yoshinari Numano and Mr. Keisuke Koji, Management Representatives of Saibu Gas Holdings Co., Ltd., said that from the past collaboration with Enrich Group, it was clear that Enrich was a residential development specialist who not only thoroughly understood clients’ insight and demands in residences and living, but also cared about how each development would meet the expectation the most. The response of the past projects had spoken for themselves. Though the Thai real estate business was highly competitive, they were certain that Enrich Group would push the real estate market in Thailand forward to grow further. Additionally, the reason that Saibu Gas Group decided to expand the business into ASEAN, especially Thailand, was its remarkable economic development and the steady growth of the real estate business.
Meanwhile, Ms. Artitaya Kasemlawan, Head of Residential Sales - Project at CBRE Thailand, highlighted the continuous growth of the luxury and above housing segment in both inner and outer Bangkok. This growth is evident in the launch of new luxury and above housing projects prior to the COVID-19 pandemic (2017-2019) at an average of 260 houses per year, which increased by a remarkable 132% during the pandemic (2020-2022) to an average of 645 houses per year.
Demand has also been rising among clients in this segment, who have high purchasing power, want to expand their living space and are more concerned about privacy. As a result, average sales in the market of luxury and above houses reached 78% in the first quarter, while total sales for 2022 reached 68%. The area with the highest sales was downtown Bangkok at 88%, mainly due to limited land availability which reduced the housing market’s supply.
However, the demand for houses in the city center has always been strong, and the COVID-19 pandemic accelerated this trend, influencing buyers to shift their selection behavior towards house-type residences.
“Condominium projects in mid-Sukhumvit, from Asoke to Thong Lor, feature large units ranging from more than three bedrooms to penthouses, have living spaces around 200-350 square meters and offer 3-4 car parking spaces in the price range of 60-130 million baht. ARCH Sukhumvit 39, in comparison, is a house project situated right in the heart of the city. It offers more spacious living areas and provides a wide range of functional utilities, including sufficient car parking spaces and ownership of the land. This exceptional combination makes ARCH Sukhumvit 39 a project that shouldn’t be missed,” concluded Ms. Artitaya.
Ms. Suphicha Nutsuwanpol, Business Office Director of Enrich Group, described the real estate market direction in the second half of the year that seemed to grow well, especially for the clients of luxury and above groups who needed houses for actual living, and it was growing steadily and coming on strong this year. The development must suit the needs of the target group in terms of locations, qualities, designs and utility space functions.
Enrich Group has previously experienced working with Saibu Gas Holdings Co., Ltd., an over-90-year-old Japan’s leading energy company that invests in high-class real estate projects all over the world, in the development joint venture, The MARQ Exquisite Ratchaphruek-CharanSanitwong, the luxury single houses of 30 million baht starting prices. It was highly successful as it was sold out almost immediately even though the project was launched during COVID-19 pandemic thanks to the practical utility space interior design and the exquisite architecture, combining with the house tidying concept of Marie Kondo’s “KonMari Method” with her master consultant.
Mr. Anavach Chatsirikul, Director of Project Management of Enrich Group, said that what made their projects gain favorable responses was the insight data of luxury clients. Upon market survey, what really matters for luxury clients were 1. Location: convenient travel and full facilities within reach, 2. Design: suitable and beautiful utility space from well-known and creditable designers, with the designs that express clients’ identities and the use of high-quality material, equipment and construction, and 3. Privacy and Safety: clients can completely relax when they are home.
Ms. Suphicha added that, from the success of the past project developments and luxury clients’ insight data, Enrich decided to partner with Saibu Gas Group in a joint venture to develop ARCH Sukhumvit 39, a super luxury house project for clients looking for a residence in CBD. This is located in the prime location of Sukhumvit which is hard to find plots of land for development these days in oppose to housing demand as the area has potential with complete public utilities and facilities and is in the heart of Bangkok’s CBD.
The design of ARCH Sukhumvit 39 is modern classic focusing on ARC shape, making it outstanding. The distinguished interior includes an embracing space yet private and spacious, simple yet elegant design, green areas gradually expanding in every floor to allow natural light to fill every room and perfect room angles for utilities suitable for today’s lifestyle. The project of 12 houses situates on a 2-Rai land area with living space of 535-829 sq. m. featuring 4-5 bedrooms, 4-6 car parking spaces* and elevators. The price starts at 65 million baht and it will be officially launched on 8-9 July 2023.
This project is peaceful as it is in a soi in a residential neighborhood, just a 1.5-km. to Thong Lor and Phrom Phong BTS stations and connected to main roads like Sukhumvit, Petchburi and Rama 9, surrounded by full facilities and within reach of a world-class shopping complex “The EM District”, BTS stations, international schools and top hospitals.
“For every development, we’re still true to our concept ‘Guiding You to Practical Living’ which allows the residents to live truly happily in our homes. Likewise, ARCH Sukhumvit 39 offers the residence in the heart of Sukhumvit. Besides the convenient traveling that solves what people in this area are always worried, it is so close to much needed facilities while still offers privacy and nature with the unique design in terms of proper utility spaces and aesthetic, which also deems necessary for the people here”, said Ms. Suphicha.
Mr. Yoshinari Numano and Mr. Keisuke Koji, Management Representatives of Saibu Gas Holdings Co., Ltd., said that from the past collaboration with Enrich Group, it was clear that Enrich was a residential development specialist who not only thoroughly understood clients’ insight and demands in residences and living, but also cared about how each development would meet the expectation the most. The response of the past projects had spoken for themselves. Though the Thai real estate business was highly competitive, they were certain that Enrich Group would push the real estate market in Thailand forward to grow further. Additionally, the reason that Saibu Gas Group decided to expand the business into ASEAN, especially Thailand, was its remarkable economic development and the steady growth of the real estate business.
Meanwhile, Ms. Artitaya Kasemlawan, Head of Residential Sales - Project at CBRE Thailand, highlighted the continuous growth of the luxury and above housing segment in both inner and outer Bangkok. This growth is evident in the launch of new luxury and above housing projects prior to the COVID-19 pandemic (2017-2019) at an average of 260 houses per year, which increased by a remarkable 132% during the pandemic (2020-2022) to an average of 645 houses per year.
Demand has also been rising among clients in this segment, who have high purchasing power, want to expand their living space and are more concerned about privacy. As a result, average sales in the market of luxury and above houses reached 78% in the first quarter, while total sales for 2022 reached 68%. The area with the highest sales was downtown Bangkok at 88%, mainly due to limited land availability which reduced the housing market’s supply.
However, the demand for houses in the city center has always been strong, and the COVID-19 pandemic accelerated this trend, influencing buyers to shift their selection behavior towards house-type residences.
“Condominium projects in mid-Sukhumvit, from Asoke to Thong Lor, feature large units ranging from more than three bedrooms to penthouses, have living spaces around 200-350 square meters and offer 3-4 car parking spaces in the price range of 60-130 million baht. ARCH Sukhumvit 39, in comparison, is a house project situated right in the heart of the city. It offers more spacious living areas and provides a wide range of functional utilities, including sufficient car parking spaces and ownership of the land. This exceptional combination makes ARCH Sukhumvit 39 a project that shouldn’t be missed,” concluded Ms. Artitaya.