Pace Development, the developers behind the Ritz-Carlton Residences Bangkok, has sold 55% of the AED 2.3 billion (US $630 million) mixed-use development to buyers based in the region.
It is a trend, Pace Development claim, which is gaining traction as the UAE is home to around 60,000 millionaires, with the developer expecting to sell more of the luxury homes in the Ritz-Carlton branded luxury residences to buyers in Dubai, Abu Dhabi and the rest of the GCC.
Pace Development CEO Sorapoj Techakraisri said: “Millions of tourists from the UAE and the region visit Thailand every year for tourism, leisure and medical, which makes our campaign in the UAE very relevant.”
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At 314m high, the 77-floor Ritz Carlton Residences will be Thailand’s tallest building.
The tower is a part of the AED 2.3 billion (US $630 million) MahaNakhon mixed-used development that includes 200 Ritz-Carlton branded luxury residences, a 159-room Edition hotel, as well as the CUBE Lifestyle and Retail Centre, which includes three F&B venues: the Vogue Club, Dean and DeLuca and L’Atelier de Joël Robuchon, who will open his first restaurant in Thailand.
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