Photo Shows: BTS Group, led by Chairman, Mr. Keeree Kanjanapas (4th left), and Sansiri, led by Chairman Mr. Kowit Posayanon (5th left) and management from both companies, has recently organized the Press Conference on the success of the joint venture company which has launched a total of 8 condominium projects, worth THB 30,000 mn and also welcomed media to visit the first's completed-construction proeject, The LINE Sukhumvit 71.
The BTS - SIRI announce the achievement of strategic partnership to develop condominium projects along the routes of Bangkok’s mass transit systems. A total of 8 condominium projects worth THB 30bn have been launched. They have recently launched 2 new The LINE projects “The LINE Sukhumvit 101” and “The LINE Phahol-Pradipat”. The two projects got well-responded with THB 4mn sales in two-day pre-sales. Combining confidence in leading property developer Sansiri, with the potential of BTS Groups lead the success of all projects. The two companies keep moving following the 5-year business partnership to launch 25 new condominiums along the route of Bangkok’s mass transit systems, all worth One Trillion Baht under a joint-venture equally owned by both companies. “The LINE Sukhumvit 71”, the first's 100% completed construction project under the partnership has started recording revenues. Currently there are 60% ownership transfer. Moreover, this project has been got well-responded from foreigner with almost full sales quota.
Mr. Keeree Kanjanapas, Chairman of BTS Group Holdings PLC or BTS, disclosed that after announcing the BTS-SIRI alliance in long-term collaboration over the next five years to develop a total of 25 condominium projects along the routes of Bangkok’s mass transit systems valued at approximately One Trillion Baht under joint-ventures equally owned by the two companies. Combining the BTS Group’s strong financial standing to support further investment in mass transit projects, highly experienced and professional human resources as well as land bank of prime city locations with Sansiri's proven expertise in developing residential projects along both existing and future mass transit lines, creates the successful collaboration showing with a total of 8 launched condominium projects valued THB 30,000 mn and 70% sold out from totally 2,963 units worth THB 20,400 mn. All launched projects were successful and 4 of 8 projects were sold out in pre-sales event. This shows consumers’ confidence in the two companies and continuing demand of condominium projects along the mass transit system among Thai and foreign markets.
BTS-Sansiri hands to open “The LINE Sukhumvit 71”, 100% completely construction, which is the second condominium project launched under the strategic partnership following The LINE Jatujak-Mochit and sold out in pre-sales days. This project got well-received not only in foreign markets, i.e. Hong Kong, Singapore, Taiwan, as seen in the foreign sale quotas almost hit the ceiling but also in Thai customers who were interested in the project launched in August until all 291 units were sold out, worth THB 2,000 mn. Currently there are 60% ownership transfer.
The LINE Sukhumvit 71, a high-rise and fully-furnished condominium project, is designed under the concept of “Opportunity is Everything, Location is Everything”. It is located 400 meters adjacent to BTS Phra Khanong station and also provides convenient transportation connection to the prime areas of Bangkok, including lifestyle communities in Ekkamai and Thong Lor. The project is ready to move-in or rental investment and has now 60% ownership transfer. Afterwards BTS-Sansiri plan to open the second completely construction “The LINE Jatujak-Mochit” which will be in queue to finish at end of 2017.
Mr. Srettha Thavisin, President, Sansiri PCL. Disclosed that following the 5-year strategic partnership, 8 condominium projects have been launched namely 1. The LINE Jatujak-Mochit worth THB 6,000 mn, 2. The LINE Sukhumvit 71 worth THB 2,000 mn, 3. The LINE Ratchatewi worth THB 2,900 mn, 4. The LINE Askoe-Ratchada worth THB 2,900 mn, 5 The LINE Sukhumvit 101 worth THB 4,200 mn, 6 The LINE Phahol-Pradipat worth THB 5,800 mn, 7. The Base Garden-Rama IX worth THB 2,280 mn and Khun by YOO inspired by Stark worth THB 4,000 mn.
All launched projects were successful in foreign markets, especially in Hong Kong where Khun Keeree Kanjanapas is a prominent and highly respected business figure. This of course contributed greatly to the impressive sales success of these projects.
He added Sansiri’s target revenues in 2016 of THB 20,000 mn dividing into the BTS-Sansiri JV and its owned projects. It has recorded revenues from condominium projects approximately THB 15,000 mn, growing from the transfer of condominium projects in Bangkok and other provinces. Moreover, it has presale backlog of THB 38,300 mn which will be able to record revenues in next three years, consisted of revenues of Snasiri THB 17,600 mn and revenues of JV THB 20,700 mn.
BTS-Sansiri has recently got success from the launch of two The LINE condominium projects, namely The LINE Phahol-Pradipat and The LINE Sukhumvit 101. The two projects got sales of THB 1,000 mn after the global launch in 6 countries, i.e. Hong Kong, Singapore, Taiwan, China, Malaysia and Thailand. These two projects are in high demand because of the prime location, adjacent to the mass transit system, as well as the design concept of “Co-Living Space”, with this, resulting the sales of THB 4,000 mn during the two-day presales.