Millennium Residence @ Sukhumvit, a THB10 billion (US$317.1 million) complex in Bangkok, has been relaunched by developer Leadon Assets Limited, The Bangkok Post has reported.

The Millennium, comprised of four towers on a 12-rai site on Sukhumvit Soi 20, is a joint venture between a group of Thai, American, and European investors. Kanyarat Krisnathevin, the Managing Director of asset and sales management firm Credence who is representing the investors to the media, said that she couldn’t reveal the names of the investors. She did reveal, however, that a Thai investor holds the majority of the project.

The project was first launched in 2006 by MR Sukhumvit with investment from Singaporean company City Development Limited. MR Sukhumvit still owns towers A and B at the Millennium; Leadon Assets purchased towers C and D in March. Leadon Assets has sold 20% of towers C and D, which are comprised of 150 and 152 units respectively, priced from THB6.7 million (US$212,562) to THB90 million (US$2.85 million).

Read the original:
Millennium relaunches in Bangkok

Thailand Property market

Some observers are concerned that the global financial crisis may affect the Thai real estate market. Generally, a real estate bubble occurs when property prices rise quickly in a short period, primarily from speculation – resulting in a supply-and-demand imbalance. When property prices are rising faster than the cost of money and banks continue increasing loan-to-value ratios, funding becomes easier – propelling additional speculation.

Millennium relaunches in Bangkok

Thailand is member of the ASEAN (Association of Southeast Asian Nations) trade bloc and has free trade agreements with India and China, two fast-developing economic powerhouses. Consequently, many multinational companies are using the country as a regional base for its operations or a place to station employees who travel around Asia. Foreign investment in Thailand is constantly expanding, supporting the strong economic growth of the country.

About the author

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Sign Up for Our Newsletter

Get notified of our weekly selection of news

You May Also Like

An Introduction to Doing Business in Singapore 2022

With its favorable taxation policies and strategic position within Southeast Asia, Singapore offers foreign investors competitive and unprecedented access to the Asian market

Thailand’s liveability ranking sinks amidst Covid-19 restrictions and environmental concerns

Thai cities have fallen out of the global top 100 most liveable locations for expatriate workers from East Asia, with Bangkok and Chiang Mai placed at 115th and 118th in the latest Location Ratings survey respectively

Vietnam, China and Thailand are Cambodia’s top three export destinations

Cambodia’s total export to the Regional Comprehensive Economic Partnership (RCEP) member countries amounted to $1.95 billion in the first quarter of 2022, up 11 percent from $1.75 billion  over the same period last year, a Ministry of Commerce’s data showed on Thursday.