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PSD sells all 450 units in first phase launch of Bangkok project

The Posh Twelve mixed-use development in Bangkok has sold out 450 units in its international sales phase.

CATALIST-LISTED Pacific Star Development has sold all 450 units in its sales phase for international buyers at its The Posh Twelve mixed-use development in Bangkok, the Asean-focused developer said on Tuesday evening.

The Posh Twelve is said to be the tallest freehold mixed-use development in Bangkok’s city fringe and is close to the Ministry of Public Health BTS station.

It comprises two freehold mid-end condominium towers of 39 and 45 floors each with 1,373 residential units and seven commercial units on the ground floor.

These residential units comprise one and two bedroom fully-fitted and furnished apartments as well as duplex lofts.

This premium resort-style condominium project catering to young and affluent middle-class buyers is currently under construction and is expected to be completed in the first quarter of 2020.Glen Chan, chief executive and managing director, said: “The strong international take-up underscores Pacific Star Development’s ability to continually create innovative property concepts with premium lifestyle attributes that appeal to cosmopolitan buyers and meet what they’re looking for."

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"We believe that the property will continue to attract healthy buying interest from foreign investors. Bangkok’s rising affluence and urbanisation has induced strong demand for the middle to high income segment of the residential property markets and in particular, where these projects are situated in promising locations,” he added.

The second release, for local buyers, is scheduled for launch in August 2018.

Pacific Star Development also developed the mixed-use development Eight Thonglor in 2008 in Bangkok. Other prime residential properties that Pacific Star Development had invested and co-developed in Bangkok are Rhythm Ratchada and The Address Sathorn.

Pacific Star Development last closed on July 26 at S$0.18.

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