Altitude Development Company Limited, a leading real estate developer in Thailand operating under the “ALTITUDE” brand, has forged strategic alliances to expand its business footprint by collaborating with renowned real estate investment partners from Japan and Malaysia, Creed Group and Scientex. Together, they have initiated the development of the ALTITUDE Kraf Vibe Bangna project. Positioned as a premium townhome-style venture boasting a minimalist design, the project strategically occupies a promising location in Bangna. Geared towards meeting the preferences of the new-generation workforce, the project offers units starting at THB 2.99 million.
Ms. Thunyaratt Rees, Executive Vice President of Business Development at Altitude Development, unveiled “Altitude Development has marked a significant milestone as it enters its 10th year of business operations. The company’s current portfolio comprises of 10 projects on hand, with over THB18 billion project value. This achievement stems from its primary strategy emphasising the investment and development of projects that prioritise enhancing people’s quality of life and living. This strategic approach has driven Altitude Development’s rapid growth, prompting the decision to join forces with Creed Group in a joint investment venture. Creed Group, a significant partner who has previously co-invested in the ALTITUDE Unicorn Sathorn-Tha Phra project, is now bringing in Scientex, Malaysia’s top-tier real estate developer, to collaborate in the investment and development of the ALTITUDE Kraf Vibe Bangna, with project value of THB1,434 million.”
Creed Group, a Japanese real estate investment and development group, boasts a distinguished track record in real estate investment and development, witnessing robust expansion since 2012 across Japan and the Asian region. Their ventures have spanned key markets such as Malaysia, Cambodia, Vietnam, Myanmar, Indonesia, Thailand, Lao PDR, and Bangladesh, culminating in a cumulative gross development value (GDV) of around USD3 billion.
Scientex, is a prominent Malaysian real estate development firm, which has won the prestigious “Top 10 Developers Award” at the BCI Asia Awards 2022 and 2023. The company is renowned for its specialised expertise in producing quality affordable homes in Malaysia. Scientex has delivered approximately 35,000 houses in Malaysia as of to date.
Mr. Takashi Eguchi, Managing Director of Creed Group, said “Creed Group aims for ongoing expansion in real estate investments across Southeast Asia, with a significant focus on the Thai market. Demonstrating faith in Altitude Development’s business vision, the company committed to co-developing the ALTITUDE Unicorn Sathorn-Tha Phra project, marking its inaugural joint venture with Altitude Development in 2019. Furthermore, collaborating in the ALTITUDE Kraf Vibe Bangna project underscores our confidence in Altitude Development’s capabilities and strategic commitment to consistent investment, particularly in high-potential ventures.”
“In considering the present state of Thailand’s real estate market, although currently experiencing a slowdown, we strongly believe in its eventual recovery. Such periods of sluggishness are a natural aspect of any industry cycle. Promisingly, there are signs of improvement within the nation’s economy. The resurgence in tourism and increased investments in manufacturing suggest an upcoming economic revitalisation expected to unfold in the next 3-5 years. Moreover, Bangkok shows promising potential for exponential growth and sustainable development. Government initiatives, combined with supportive regulations that facilitate the expansion of the real estate industry and the accessibility of home loans through financial institutions, are contributing to enhancing accessibility for our target market.”
Mr. Beh Chun Chong, Deputy Chief Operating Officer of Scientex Property Division, disclosed “The company has consistently sought avenues for expanding its business operations in Southeast Asian nations, with Thailand being our primary investment destination. The urbanisation trend, driven by population growth and urban sprawl, underscores the robustness of the real estate
market. Particularly in Bangkok, where the population is growing at a rate of 1.5 percent and urbanisation stands at 50 percent, the city’s capacity to accommodate this expansion aligns with the escalating demand for housing. Despite the overall slowdown in the real estate sector, we can see a positive sign in Thailand’s market as it has passed its lowest point. The market is gradually moving into a recovery phase, showing signs of improvement at a slow pace. It is more favourable for buyers than investors.”
“The decision to enter into the joint venture agreement for the Altitude Kraf Vibe Bangna project stems from our trust in the accomplishments achieved through the collaboration with Creed Group in the ALTITUDE Unicorn Sathorn-Tha Phra project. Over time, Scientex and Creed Group have cultivated an enduring business alliance. Crucially, both companies resonate with each other in terms of business philosophies. With a firm commitment to the “Always more” principle, we strive to craft quality homes at affordable prices. At the same time, Altitude Development is dedicated to elevating the value of the products delivered to customers.”
“Teaming up with world-class partners helps amplify customer trust and enhance our competitiveness in the real estate market. It’s a collaborative effort, forging strategic alliances where partners collaborate on developing and implementing strategies together. By combining the strengths and expertise of each entity, we create a dynamic environment that cultivates synergy and fosters collaboration. For instance, harnessing Scientex’s expertise in managing large-scale construction projects empowers us to manage costs efficiently and streamline construction schedule. This provides us with the opportunity to compete effectively with our business rivals. It also paves the way for our exponential growth, despite the presence of major developers in the market,” added Ms. Thunyaratt.
In addition to being a developer, Altitude Development operates its own one-stop service solution, delivering comprehensive project management services, including real estate consulting through turnkey development. This business model eradicates all risks while offering the highest returns to customers. The company also welcomes investment partnerships for those with interests, land holdings, and a desire for development assistance. Altitude Development stands prepared to offer comprehensive real estate development services.
Introducing the ALTITUDE Kraf Vibe Bangna project, a premier townhome development project showcasing minimalist design across 2-3 floors. These homes are ready for transfer and offer access to a 24-hour common area. Nestled in the prime location of the Bangna zone, residents can enjoy proximity to the Mega Bangna shopping mall. The residence’s prices start from THB2.99 to 4.59 million.
To schedule a visit to the project and unlock a special discount of up to 500,000 baht*, call 02 027 8989.