Koon Estate and AISL Achieve 50% of VIP Sale Bookings

Koon Estate and AISL Achieve 50% of VIP Sale Bookings for Hyde Park Garden Vibhavadi Phase 1, Worth 1.4 Billion Baht, Set to Open the Show Unit for Pre-sale on Oct 6-8, with the Aim to be Sold Out in 3 Months

Koon Estate and Asia International School Limited (AISL), the educational management of Harrow International Schools in Asia, have unveiled a show unit of the ‘Hyde Park Garden Vibhavadi’  super-luxury single-detached houses, situated adjacent to Harrow International School Bangkok, with a project valued at over 6.5 billion baht. They are poised to meet the demands of high-end property buyers, including Thai and international families. The first-phase VIP Sale bookings have exceeded the target, reaching over 50%, comprising 32 units with a total value of more than 1.4 billion baht. They aim to have the project sold out within 3 months, with a show unit and pre-sale scheduled for October 6-8.

Mr. Nuttawat Kuvijitsuwan, Executive Director of Koon Estate Company Limited, reveals that since the launch of the super-luxury single-detached house project, Hyde Park Garden Vibhavadi, a collaboration between Koon Estate and Asia International School Limited (AISL), the educational management of 10 Harrow International Schools in Asia, earlier this year, the project has received a highly positive response. Notably, this response is particularly strong among Thai families whose children are enrolled at Harrow International School Bangkok, with up to 90% of customers coming from this group. The project’s main appeal lies in its strategic location, adjacent to the school, and its pedestrian walkway that provides direct access to the school without the need to cross major roads. Additionally, the project’s prime location allows easy access to the city’s central business district via the Don Muang Tollway and the Red Line Mass Transit System. It is surrounded by a wealth of amenities, including Don Mueang International Airport, golf courses, shopping malls and neighborhood malls, making it an ideal community that encompasses both educational and lifestyle aspects, suitable for both residential living and long-term investments.

Currently, the project has achieved a 50% booking rate for the first phase, totaling 32 units with a value of over 1.4 billion baht. The project consists of 3 types of single detached houses: Type M, Type L and Type XL, ranging from 73 to 166 square wah, with prices starting from 38 to 81 million baht. The living spaces range from 412 to 880 square meters and are designed with a Modern Tropical concept, providing a contemporary yet resort-like experience. The homes are oriented to capture the north-south breeze, offering shade from direct sunlight. Each house includes parking spaces for up to 5 cars, EV charger support and a private lift. Additionally, each room is thoughtfully designed with a private swimming pool. The company anticipates closing sales for this phase by the end of 2023.

 

Ms. Valerie Chiu, Director of Asia International School Limited (AISL), notes that Harrow International School Bangkok is widely recognized as a leading international school in Thailand and has been awarded the “Best Top International School” in Thailand by the Asian Parent Awards. Drawing from our past experiences in school development, we have come to understand the importance of the living environment outside of school, which is deemed as crucial as education itself. Consequently, we aim to establish a Family Community model that enhances the quality of life, fosters a positive environment, and provides educational benefits. We are utilizing our expertise in school development to shape the project’s offerings, catering to both parents and children. These amenities include spacious clubhouses with practical functions, a 25-meter saltwater swimming pool alongside a children's pool, an expansive garden spanning over 5 rai and a dedicated bicycle lane enabling children to commute to school via a specialized route connected to the school's entrance. Additionally, there are gym rooms and studios for yoga, Pilates and ballet, meeting rooms, reading spaces, event venues for hosting parties and music practice rooms among other amenities.

Mr. Charnwit Pasuwat, Head of Design Development, at CBRE Thailand, an international real estate consulting firm, says that the overall market of single-detached houses in the luxury segment and above is growing. As of H1 2023, a significant increase of 205% H-o-H in newly launched projects, specifically in parts of northern Bangkok, was 81% higher than the entire year of 2022.

Vibhavadi-Rangsit and Don Mueang, situated in northern Bangkok, are areas with promising business potential. Its infrastructure has been developed to serve as a transportation hub accessible by car, sky train and proximity to the airport. The third phase of the expansion for Don Mueang International Airport and the development of the new National Government Complex have contributed to an increased demand for residential expansion. This is evident from the 25% rise in land prices in Vibhavadi-Rangsit, compared to an average increase of 2.8% in the Bangkok area.

According to CBRE Thailand, who have worked extensively in this market, demand for luxury single-detached houses in northern Bangkok is on the rise. However, limited new supply in the area compared to other residential areas. Most of the land plots in the area have been developed for commercial businesses or government offices. The Hyde Park Garden project is currently the only project offering outstanding features in terms of house designs, concept, and house specifications. The project's facilities cater to families of all sizes. As a result of limited new launches and strong demand, average sales in Vibhavadi-Don Mueang have reached 100%.

Mr. Charnwit stated that “In addition to being a residential housing project that has responded to the purchasers' requirements, the project, located next to Harrow International School, also adds value for the purchasers in terms of investment. As there is a rental market for residential housing from both Thai and international families with children attending school, the resale market is more flexible, with fresh demands coming in every year. As previously said, the project stands out among others in the luxury residential market that has been launched in recent years”.

'Hyde Park Garden Vibhavadi' is preparing to open reservations during the pre-sale event from October 6-8, 2023, along with special offers. For those interested, please contact CBRE for more information or call 082 491 6166.