Raimon Land is a leading luxury residential developer with a portfolio of high-end condominiums spread across Bangkok. The developer has also worked closely with overseas buyers throughout the years with foreign quota at most of its condo projects near capacity. In 2021, the homebuilder is looking for new ways to improve synergy between the two.
It was the first developer in Thailand to join the Elite Flexible One program created by Thai Privilege Card. The scheme, which is backed by the Tourism Authority of Thailand (TAT), grants foreign business owners and investors who purchase real estate properties valued at THB10 million or more with a five-year Privilege Entry Visa.
“This collaboration is an important business opportunity to expand our international customer base,” Khun Korn Narongdej, Raimon Land CEO, said. He added the company is rolling out a marketing strategy this year that will help it attract affluent Thai and international customers. An emphasis has been placed on potential buyers from China, Hong Kong, Singapore and Europe.
Units at The Lofts, The River and The Diplomat 39 are available as part of the scheme. In addition to the visa, property buyers will also be eligible for several other Thai Privilege Card benefits.
Raimon Land believes signs of recovery will commence in 2021, it also understands the need for greater synergy between the Bangkok luxury real estate market and overseas buyers. Khun Korn noted that while international investors are still interested in high-end Bangkok real estate due to attractive property prices and a high return-on-investment, that is no longer enough.
Prior to this program being rolled out, there was no clear and direct access to a Thai visa through real estate investment. Mechanisms were in place, but there was a disconnect between buying a property and obtaining the visa. This newly created arrangement establishes much needed synergy between the Bangkok luxury real estate market and overseas buyers moving forward.
Estimates from TAT show at least 100 business owners and investors taking part in the scheme which would generate more than THB1 billion in sales of Bangkok luxury condominiums this year.
