PACE NEW PHASE
Dear Friends
Thank you for joining another issue of Momentum, heralding a new year, and
a number of exciting new developments for PACE.
First, looking at the year gone by, PACE managed to exceed our sales targets
for MahaNakhon’s Ritz-Carlton Residences, and we now sit at approximately
60% sold. In response to having already sold out 2-bedroom residence
types, we have reengineered the floor plans slightly, enabling us to create a
number of corner 2-bedroom residences within the property. While 2013 saw
us sell our highest price residence to date (480m baht), we expect to see a
number of other major sales going through in the near future that may rival this
amount, since MahaNakhon converted to freehold, more about this exciting
change is included in this issue. As we write, MahaNakhon CUBE first phase
has opened, adding a new facet to Bangkok’s burgeoning dining scene.
For MahaSamutr, construction is proceeding to plan, with our goal to complete
the lagoon and first 2 homes prior to launching sales anticipated to be Q3 of
this year. An enormous amount of soil has been shifted to create the Crystal
Lagoon, and we are proud to be creating the largest manmade lagoon of its
type in Asia.
Langsuan is on plan to launch later this year, and in terms of financial performance,
PACE achieved its revenue targets within the last year, and the future looks
bright. The impact of political unrest has perhaps delayed a few buyers’
decisions but otherwise there has been no substantial effect on the luxury
sector of Thai property.
As always, if you have questions or comments, please send through to me
[email protected]