Porsche Design Tower Bangkok debuts at prices from US$15 mil to US$40 mil

Bangkok’s skyline is set to change with the new 21-storey, 95m-tall Porsche Design Tower Bangkok, which debuted on August 27. It marks the collaboration between Porsche Design, the lifestyle brand of sports car manufacturer Porsche AG and Thai real estate developer Ananda Development. It is the first Porsche Design Tower in Asia, following the successful launch of Porsche Design Tower Miami (PDTM) in the US a decade earlier. The 132-unit PDTM was completed in 2017 and entirely sold at prices ranging from US$6 million to US$32.5 million. “The Porsche Design Tower Bangkok is the next big thing for Porsche in Southeast Asia,” says Lutz Meschke, deputy chairman of the executive board at Porsche AG. “We want to create an engineering and architectural tour de force that also serves as a lighthouse and a unique hub for our extremely passionate community throughout Asia.” Advertisement Advertisement Located at Sukhumvit 38, the even-numbered side of Sukhumvit Road in the Thonglor area, Porsche Design Tower Bangkok sits within a vibrant neighbourhood with upscale restaurants, cafes, shopping malls and various leisure and entertainment activities.

‘Exclusive sky villas’

“When we approached Porsche Design to jointly develop a new Porsche Design Tower in Bangkok, we took the bold step of proposing a more intimate residential product compared to the project in Miami,” says Chanond Ruangkritya, president and CEO of Ananda Development at the official unveiling of the Porsche Design Tower Bangkok. He adds: “We envisioned each unit at Porsche Design Tower Bangkok as an exclusive villa in the sky that also enjoys a vibrant city-living lifestyle that comes with being in a bustling district like Thonglor in Bangkok.” Instead of a wide range of units, Porsche Design Tower Bangkok will have just 22 apartments — from duplex to quadplex, ranging from 5,649 sq ft to 12,212 sq ft. The apartments will have three or four bedrooms each and will be priced from US$15 million ($19.54 million, or $3,458 psf) to US$40 million ($52.12 million, or $4,267 psf). They are expected to set a new benchmark in Bangkok’s ultra-luxury residential market. Scheduled for completion in 2028, Porsche Design Tower Bangkok is estimated to have a gross development value of THB15 billion ($573 million). “With only 22 units, we are confident that this project will be successful and we expect to hold firm to our prices,” says Ruangkritya.

‘Already a waiting list’

A Porsche enthusiast himself, Ruangkritya owns several Porsche sports cars. He remembers the first time he encountered a Porsche car as a young boy in his father’s garage. “I didn’t understand the significance of a Porsche car at the time,” he says. “But I felt drawn to the shape and design of that car.” Advertisement Advertisement He enjoys going on road trips around Thailand and Malaysia with other Porsche car enthusiasts and collectors. “There is a passionate community of Porsche car owners in Thailand, which includes many high-net-worth individuals who would pay a premium for the chance to own a Porsche-branded trophy asset,” he says. Ruangkritya adds that there is already a waiting list of prospective local and foreign buyers. Some people have already expressed interest in purchasing either of the four-storey penthouses, which are priced at US$40 million each. While owning a Porsche sports car is not a criterion, Ruangkritya says the developer will review the suitability of each potential buyer. Porsche Design Tower Bangkok will be launched for sale in several key cities in the coming months, including Singapore, Hong Kong, Taiwan, Abu Dhabi and London.

‘360-degree brand experience’

With 174 parking spaces for just 22 apartments or a ratio of eight cars per apartment, Porsche Design Tower Bangkok naturally caters to car enthusiasts. Each apartment has a “passion space” of 1,076 sq ft to 3,606 sq ft, accessible via private lifts. “The passion space is ideal as a ‘soul garage’ to store and showcase a car collection,” says Porsche’s Meschke. Passion spaces will be fitted with top-of-the-line exhaust fume extractors, a humidity control system, CO2 and O2 sensors, and acoustic insulation and can support EV charging. Advertisement Advertisement A unique feature of the building is “The Loop,” a spiral access ramp in the core that allows owners to drive their cars directly to their “passion space.” The apartments will have fully fitted kitchens and bathrooms, including kitchen cabinets from the Italian brand Arclinea and appliances from Marrone, Sub-Zero & Wolf and Josper charcoal ovens. The glass doors opening to each apartment’s balcony are not the typical sliding doors. Instead, they are fully automated and inspired by the “kinetic move” of the Porsche 911 Targa roof mechanism. Another architectural highlight is the exposed steel pedestal exoskeletal structure. Called the “X-Frame”, it is inspired by the design of Porsche’s Mission R concept car. The tower’s crown will feature the signature lighting design of Porsche sports cars. “It’s a 360-degree brand experience and a new approach to the Porsche brand,” says Porsche AG’s Meschke. The apartment tower offers amenities such as a 25m swimming pool, a fitness centre, a spa, a social lounge and a business lounge.

Concentration of luxury residences

The apartments at Porsche Design Tower Bangkok will be sold with freehold tenure. In Thailand, foreigners can only own up to 49% of the units in a condo. That means only half of the 22 units at Porsche Design Tower Bangkok are available for sale to international buyers, making it even more coveted. “People will be curious because the Porsche Design Tower Bangkok as it is the first of its kind in Asia,” says Jacqueline Wong, executive director of Hardington Private, a niche consultancy for ultra-high-net-worth individuals and family offices. According to Ruangkritya of Ananda Development, Bangkok has the greatest concentration of luxury branded residences in Southeast Asia. “It sees strong demand from high net-worth individuals in the region for luxury branded residential projects,” he adds. Examples in Bangkok include Dusit Residences, Four Seasons Residence Bangkok, The Residences Mandarin Oriental, The Ritz-Carlton Residences Bangkok and St Regis Residences. “Most people are drawn to such branded luxury residences due to the convenience of the location and the hospitality services they provide, such as concierge service, housekeeping, room service, dog-walking service, nanny service and security,” says Nicholas Keong, head of residential and private office, Knight Frank Singapore. “What makes it appealing to the well-heeled is that you can just lock up and leave,” adds Keong. “For most international buyers, such apartments are more of a holiday home or a second home and it’s more for their own use rather than an investment.” Wong of Hardington Private says that in addition to luxury hotel-branded residences, fashion brands such as Armani, Bulgari and Versace also have their own branded residences. Likewise, Porsche Design wants to plant its flag at the top end of the residential market in key cities around the world. “These are natural brand extensions and there is a value-add to the kind of services provided,” says Wong. “If you’re an avid Porsche fan, and have the mean, the fact that it’s a Porsche Design Tower, it would appeal to you.”