The firm describes it as “a hidden gem within a 30-minute drive from Phuket International Airport”.

The freehold beachfront residential development will have 15 luxury villas with views of the Andaman Sea.

Aimed at both foreign and local buyers in response to growing demand for luxury vacation homes in the Thai South, the project should begin in the third quarter this year and be completed by the end of 2020, chief executive Prapavadee Sophonpanich said on Wednesday.

Seven of the 15 units will be 615-square-metre, two-storey Veyla Beach villas and the rest 585sqm, three-storey Veyla Sea villas.

Both types will have three bedrooms, with prices starting at Bt67 million per unit, Prapavadee said.

The resulting joint venture, Altitude Creed Talat Phlu Co Ltd, sees Altitude Development holding 51 per cent of the total stock and Creed Group holding 49 per cent. Altitude Unicorn Sathorn-Tha Phra is set to be the first and flagship development of the JV, and will cater to market needs and leverage the city’s expansion along new BTS lines, Altitude’s CEO, Chayaphon Hunrungroj, said at a press conference yesterday.

Creed Group have experienced solid growth in Japan and other Asian countries including Malaysia, Cambodia, Vietnam, Myanmar, Indonesia, Laos and Bangladesh, and its Gross Development Value (GDV) is over US$800 million (Bt24.5 billion). Creed Group are looking to further expand their real estate investments in Southeast Asia, and sees Thailand as a priority market.

“The partnership between Altitude Development and Creed Group is the beginning of a new joint investment strategy and business expansion for both parties,” Chayaphon added. “We will grow together by increasing the values of each of our own property businesses as well as sustainably growing our revenues and profits.”

Toshihiko Muneyoshi, the founder and managing director of Creed Group, said that the company had successfully developed real estate projects in a number of countries and Thailand was a strategic market for them to grow their regional presence.

“We will focus on premium condominiums in upcoming locations, outstanding developments with comprehensive facilities, and Altitude Unicorn Sathorn-Tha Phra fits this perfectly and is our first [Thai] development, together with Altitude Development,” Muneyoshi said.

Altitude Unicorn Sathorn-Tha Phra is a 34-storey high-rise condominium connected to Talat Phlu BTS Station by skywalk, offering unrivalled convenience for residents.

Located on 2 rai (0.32 hectares) of land, the development comprises 711 units in four different types – One Bedroom, with a unit area of 23.64-24.53 square metres; One Bedroom Plus, with a unit area of 36.98 sq m; One Plus One Bedroom, with a unit area of 39.08-57.78 sq m; and One Plus One Bedroom Loft, with a unit area of 57.01-69.28 sq m. Unit prices start from Bt2.19 million, with construction scheduled to start in this year’s third quarter and a projected completion in the third quarter of 2021.

Altitude Unicorn Sathorn-Tha Phra offers a comprehensive range of facilities, including an intelligent co-working space with auditorium, as well as a reception and service bar designed by Fallabella – a meeting place offering coffee and tea during the day and cocktails in the evening.

Other facilities include a co-creation kitchen, mini theatre and an e-sports room. The Grand Canyon-inspired swimming pool offers a place to relax and unwind while the fitness centre boasts a climbing wall, yoga area and even a boxing ring.

Booking for the 176 units  is scheduled for June 2930, at  the company’s sales gallery, according to  a  company report yesterday.

The Bt2.6billion complex comprises  townhouses  and singledetached houses, priced between Bt1.7 million and Bt2.5 million per unit.

Bt500 million of  the project’s total value of  Bt2.6 billion has been presold,  according to a company statement  yesterday.

The Cabinet on Tuesday approved an increase in the budget for the “Baan Mankong” housing programme from Bt80,000 per family to Bt89,800, effective from the fiscal year 2020, which commences on October 1, 2019.

The revised subsidy would increase the government budget for the housing scheme, which runs from 2017 until 2036, by 11.9 per cent to Bt6.5 billion, said Nattaporn Jatusripitak, a spokesman for Deputy Prime Minister Somkid Jatusripitak.

He added that the project targeted supporting 690,000 families nationwide to develop and improve their residences and the infrastructure around their communities.

“The Cabinet has approved an increase to the budget now, as construction raw material prices are rising,” he said.

The new development phase means that a host of vertical mixed-use schemes are due to complete over the next few years comprising a variety of uses and concepts, and competition for tenants should be fierce.

Whilst “mixed-use” is not new to Bangkok, the sheer scale and level of sophistication of the upcoming supply is expected to present a big leap forwards with several prominent new developments located in prime locations in the central business district, ensuring excellent transport links and parking, five-star hotels with branded residential, high-rise office towers and expansive retail amenities, according to Savills Thailand.

“Significant pressure is expected to be exerted on existing office landlords as tenants will be tempted to relocate to the new offerings. Although the sheer level of new supply currently estimated in excess of 100 per cent of the existing CBD office stock, and due to come on line progressively over the next five years, may lead to a softening of office rents earlier than predicted as existing landlord’s fight to retain tenants,” said Robert Collins, chief executive officer of the property advisory services firm.

Mixed-use developments present many challenges, but if successful can reap big rewards. The benefits of a successful scheme include place making, economies of scale, operational efficiencies and a positive community impact, while signs of failure include island sites, “nowhere space” incoherence and disorientation.

Simon Smith, head of Asia Pacific Research at Savills, said: “Today, ‘amenity’ is the new differentiator marrying health, green tech and smart design. The ‘public realm’ is all-important as is a sense of character, community and place.

“Developing a sense of community is increasingly a priority, especially as new generations value meeting, collaborating and sharing. Traditional aspirations for a house in the suburbs with its lengthy commute are changing.”

The topic of “mixed-use” was unveiled at a Savills event “Navigating the Mixed-Use Development Landscape in Bangkok”, held at Gaysorn Village on Tuesday.

More than 100 Savills clients from across the region listened to a series of presentations on retail, hotels, residential/office and the overall market.

Talat Phlu is an up-and-coming lifestyle area near the main central business districts of Bangkok, conveniently accessed by the BTS Green Line, and Altitude Unicorn Sathorn-Tha Phra will be connected by a skywalk direct to Talat Phlu BTS Station.

Condominiums at the project start from Bt2.19 million.

Speaking on Tuesday of the company’s strategic plan, Chayaphon Hunrungroj, CEO of Altitude Development, said: “Our current and future focus is on high-value strategic development sites, in particular those located in the city centre and close to Bangkok’s mass-transit systems. To support our growth, we will partner with leading international property professionals.”

In this regard, Altitude Development has signed a joint-venture agreement with Creed Group, a company with a strong track record of developing real estate in Japan.

Since 2012, Creed Group has experienced solid growth in Japan and other Asian countries such as Malaysia, Cambodia, Vietnam, Myanmar, Indonesia, Laos and Bangladesh, and its gross development value is over US$800 million (Bt24.6 billion).

The group is looking to further expand its real-estate investments in Southeast Asia, and Thailand is a priority market, Chayaphon said.

“The partnership between Altitude Development and Creed Group is the beginning of a new joint investment strategy and business expansion for both parties. We will grow together by increasing the values of each of our own property businesses, as well as sustainably growing our revenues and profits,” the CEO added.

Toshihiko Muneyoshi, founder and managing director of Creed Group, said: “We have successfully developed real-estate projects in a number of countries, and Thailand is a strategic market for us to grow our regional presence.

“We will focus on premium condominiums in upcoming locations, outstanding developments with comprehensive facilities, and Altitude Unicorn Sathorn-Tha Phra fits this perfectly and is our first development, together with Altitude Development, in Thailand.”

The new joint-venture company is Altitude Creed Talat Phlu, in which Altitude Development holds 51 per cent of the stock and Creed Group holds 49 per cent.

Altitude Unicorn Sathorn-Tha Phra, which is set to be the first and flagship development, will cater to market needs and leverage the city’s expansion along new BTS lines.

Altitude Unicorn Sathorn-Tha Phra is a 34-storey condominium connected to Talat Phlu BTS Station by skywalk.

Located on 2 rai (0.3 hectare) of land, the development comprises 711 units in four sizes Construction is scheduled to start in the next quarter, with completion expecetd in the third quarter of 2021.

Kwanchai Yingcharoenthawornchai, managing director of Altitude Development, said: “Talat Phlu has become a new business district in Bangkok and Altitude Unicorn Sathron-Tha Phra is the company’s flagship development. It will inspire a new way of living and targets the new generation who prefer to live near CBDs such as Siam, Silom or Sathorn.

“Altitude Unicorn Sathorn-Tha Phra is located in the heart of this prime area with convenient connections. Linked to the BTS, residents can travel to other parts of the city and be at their workplaces within minutes, and we are also within easy driving distance of areas such as Silom, Sathorn and Siam.”

The 25-storey building now under construction will offer 52,000 square metres of flexible office space and common open spaces to foster creation, innovation and collaboration.

The concept would be ideal for corporates, multinational corporations, tech SMEs and startups that need open-plan workspaces to boost interaction.

“We are extremely excited about our new corporate headquarters, our first Grade A office development project that will be strategically located along Debaratna Road,” said Jareeporn Jarukornsakul, chairman and Group CEO.

“WHA Group is looking forward to partnering with leading international property-services firm JLL as the sole leasing agent for this project. We will soon begin offering office space to dynamic companies looking for a flexible working environment in a modern building.

“We are incorporating special features such as sports areas, co-working space, artisan cafe and other activities. Our intention is to offer corporate users a better work and living experience where people can combine work with a healthy and fun-loving lifestyle.”

Approximately 35 per cent of WHA Tower will be occupied by WHA Group offices, with the remaining area to be offered for lease primarily to WHA customers and corporations or business entrepreneurs in the new-generation industries.

The location is close to Central Bangkok and a short drive to the EEC. It is also close to Suvarnabhumi Airport, Mega Bangna, Central Bangna and residential projects.

Designed for maximum efficiency, the building will allow tenants and visitors to reach the most convenient routes at all times.