Luxury developer Scope Co plans to launch a new condo project, Scope Thonglor, worth 3 billion baht with only 18 units, each occupying an entire floor and priced from 200 million baht, aiming to achieve 1.65 billion baht in sales during the launch period.
Chief executive Yongyutt Chaipromprasith said there's demand for large-sized residential units in the Thonglor area where land prices soared to almost 3 million baht per square wah.
"High-net-worth individuals want privacy," he said. "A super-luxury condo project in the past had about no more than 100 units per project, but today even 20 units are considered as too many."
Scope Thonglor will be located on a one-rai plot on Sukhumvit Road opposite Soi Thonglor.
It will be a 32-floor condo project with 18 units sized from 415 square metres and priced from 200 million baht per unit.
Slated for launch in October, the project will be the third, following Scope Langsuan on Lang Suan Road and Scope Promsri on Sukhumvit Soi 39 worth 9 billion baht and 1.1 billion baht, respectively, which were launched last year.
At present, Scope Langsuan has sold 60% of units worth 5.86 billion baht, 20% of them sold to foreign buyers.
Scope Promsri recorded 40% of units sold and all buyers were Thai, mainly purchasing for rent.
Mr Yongyutt said the company is waiting for environmental impact assessment (EIA) approval for a new condo project, Scope Prasanmitr, worth 2 billion baht, on Sukhumvit Soi 23.
This project will target more foreign buyers due to its location as a hub for foreigners.
By the end of 2024, the company expects to have 5 billion baht in both sales and transfers, with the units at the first three projects sold out by the end of the year. The majority of transfers will be from Scope Langsuan.
Founded in 2017 with a registered capital of 100 million baht, Scope is a joint venture firm in which SET-listed developer SC Asset Corporation Plc holds 90% and Mr Yongyutt owns 10%.
