Singapore firm brings Bangkok condos to Myanmar

PHOTO: The Nation/Asia News Network

SQFT Global Properties, a real estate agency headquartered in Singapore, will organise sales events in two Myanmar cities - Yangon and Mandalay - for two properties lying in the heart of Bangkok.

"We mainly target Myanmar nationals who are willing to have their own properties abroad.

"As it only takes one hour to fly from Yangon to Bangkok, we are fully aware that many people want to possess their own luxury apartments there to ensure convenience during their visit to the neighbouring country," said Hnin Ei Lwin, head of Myanmar operations. The show will be held at the Novotel Yangon Max hotel in Yangon this weekend and in Mandalay next weekend.

"Nowadays, more and more people are visiting Bangkok for different kinds of reasons. Most people go there for leisure while many are on business trips and some, for medical treatment. "Many of them prefer long stay. So, we hope to play a part in making their dreams come true," she said.

At the event, condominiums at the newly-completed integrated development project on Sukhumvit Road named Muniq and a luxury housing project located at the central business district on the main Sukhumvit Road named Marque will be sold to Myanmar citizens who have shown interest in high-end properties.

The firm had targeted sales of at least 20 condos at the two events. This was not the first time for the firm to bring properties in Bangkok to the Myanmar market, she said. It started to introduce Whizdom 101 apartments in Bangkok by organising a sales event in Yangon two months ago. Both properties seem to target high-end consumers, as prices at Muniq start at over US$420,000 (S$566,000) per condo, while the minimum price for a Marque apartment is about US$1.2 million.

On the other hand, United Nations statistics in 2014 showed that Myanmar's gross domestic product per capita was only US$1,244. Hnin Ei Lwin does not consider it as a barrier to their sales target, as the firm has received "very positive" responses from many investors and families since their event in July.

"At the event, we came to realise many of our customers really wanted some condominiums located in downtown Bangkok, especially near shopping centres and famous hospitals. "That is why we bring these two properties to Myanmar," she said.

"Marque is only 1.5 kilometres away from international hospital Samitivej, 8 minutes' BTS ride to Chidlom and 10 minutes' BTS ride to Siam Paragon. "For those who prefer shopping, it is next to EmQuartier shopping mall. Muniq is located within 5 minutes' walk to Asoke BTS Station and Sukhumvit MRT Station.

"From there, you can easily get to shopping malls such as the Emporium, EmQuartier, Central Embassy, Central Chitlom, CentralWorld, Siam Paragon and Terminal 21." Foreigners including Myanmar citizens could buy properties in Thailand according to the existing Thai laws and regulations, she said.

The firm would undertake all the necessary requirements for a Myanmar buyer who decided to buy any of the properties until he signed a purchasing contract with the developer. Established in 2010, the firm now has subsidiary offices in China, Hong Kong, Indonesia, Malaysia, Thailand and Taiwan, and will soon expand to the United States, United Arab Emirates and Myanmar. It now has marketing projects in more than 50 cities across 22 countries.

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