Aman Nai Lert Bangkok Development includes 52-suite hotel, private residences
Prices start at about $1.4 million, almost half already sold
By Natnicha Chuwiruch | 8 September 2020, 23:00 BST
In the middle of Bangkok’s concrete jungle, Aman, best known for its luxury beach resorts, is building “Aman Nai Lert”, its first urban hotel and residences in Thailand.
Rising from the Nai Lert private gardens, Aman Nai Lert Bangkok, the 36-story development is a bet that Thailand’s travel industry will rebound from the coronavirus pandemic, which has devastated an industry that last year attracted almost 40 million foreign visitors who pumped around $60 billion into the economy.
“Thais seek out luxury and comfort, so do foreigners, so there is a lot of room for growth,” said Naphaporn Bodiratnangkura, chief executive officer of Nai Lert Park Development.
“Thailand is a very coveted location, especially given how Thailand has been able to handle the outbreak. Now there will be many who seek to live and invest here.”
The development is a partnership between Aman and Nai Lert Park Development, the real estate arm of Nai Lert Group, which invested 6 billion baht ($191 million) into the project. Nai Lert owns the property, while Aman will manage the 42 residences and 52-suite hotel when they open in 2023.
While the official sale launch of Aman Nai Lert starts Thursday, 42% of the residences have already been sold to ‘Amanjunkies,’ — dedicated fans of the hotel brand — and to Bangkok’s elite, Aman Chairman and Chief Executive Officer Vladislav Doronin said. In a post-Covid world, greater emphasis will be placed on privacy and physical and mental well-being, he said.
“The shape of Thailand’s economic recovery will be uncertain, but since tourism is one of the vital drivers of the economy, it’s imperative that we start to see progress and an eventual return to normality for the sector,” he said.
Residents at Aman Nai Lert in Bangkok will have access to private dining rooms serviced by in-house chefs, butlers who can babysit and iron their daily newspapers, spa and salon services and a wellness center. Prices start at 450,000 baht per square meter, and the smallest unit will occupy 100 square meters, suggesting an entry price of about $1.4 million. From there, prices will rise as high as the six penthouse units, the largest of which encompasses 2,200 square meters.
While Thailand is currently closed to most foreigners, the government is finalizing plans that would make it possible to bring in visitors who would stay for long periods of time or invest money into the economy.
“Thailand is ready for luxury tourism,” Naphaporn said. “The hotels have beautiful products, the airport can handle private jets coming in. I don’t know how much more ready Thailand could be.”
Read the full article: https://www.bloomberg.com/news/articles/2020-09-08/aman-resort-amid-bangkok-skyscrapers-is-bet-luxury-will-survive
