CB Richard Ellis Appointed The Sole Agent Of The Sukhothai Residences

PRLog (Press Release) – Sep 24, 2007 – Bangkok, Thailand -- HKR International Limited ("HKRI"), the Hong Kong listed real estate developer (HKSE: 00480) operating the legendary Sukhothai Hotel, is presenting another flagship project, The Sukhothai Residences, in Bangkok, Thailand. The Sukhothai Sky Villa, the largest penthouse of The Sukhothai Residences, will be offered for an unprecedented Global Tendering by the end of this year.

Mr. Benjamin Cha, Director of HKR Asia Pacific (a subsidiary of HKRI), said: "We are optimistic about the luxurious segment of the Bangkok residential property market and the development of The Sukhothai Residences demonstrates our commitment to and confidence in the Thai economy. Located right next to The Sukhothai Hotel, The Sukhothai Residences is positioned as an ultra-luxury property that will become a prominent landmark in the Bangkok Central Business District ("CBD"). It will follow the same lifestyle-driven and uncompromising service and design philosophies of our other projects in Southeast Asia and will certainly set a new benchmark for modern cosmopolitan living."

The Sukhothai Residences
The Sukhothai Residences will offer a wealth of professional management services provided by the hotel to its habitants. It is a 41-storey condominium tower, comprising 9 penthouses and 187 typical units with sizes ranging from approximately 100 to 1,200 square meters. Facilities will include concierge, a 50-meter long swimming pool, children's pool, landscape garden, tennis court, children's play room, and basement car park. Besides, there will be a floating pavilion housing a juice bar, gymnasium, yoga and aerobic studio, steam and sauna, etc. Construction is to commence by the end of this year and is expected to be completed in 2011.

Bringing Thai culture and modern architecture into a romantic and aesthetic environment, The Sukhothai Residences will continue the spirit of The Sukhothai Hotel. HKRI has invited the masterminds behind the sophisticated development of The Sukhothai Hotel, Mr. Kerry Hill and    Mr. Ed Tuttle, to join hands again for the architectural and interior design of The Sukhothai Residences project. Both the developer and the architects have been working closely to ensure that the design of every unit is unique, each with its own special character. The 9 impeccable penthouses are conceptualized by Mr. Tuttle, which include The Sukhothai Sky Villa that features a rejuvenating 18-meter swimming pool in a spacious sky patio garden. These penthouses will provide a truly resort-style living under the sky of the Bangkok CBD.

The Sole Agent
The pre-sale of The Sukhothai Residences is to commence in the fourth quarter of 2007. To facilitate its sales campaign, HKRI has appointed CB Richard Ellis ("CBRE") as the sole agent of The Sukhothai Residences in Thailand. CBRE has recently established a Luxury Residence team and The Sukhothai Residences is the first project to be represented and handled by the team.

"We are very pleased to have CBRE as our partner to assist in the sales campaign of The Sukhothai Residences and we have every confidence in the professional Luxury Residence team. With its expertise and knowledge in the local market, the team would definitely add value to our campaign and also to our customers, hence helping us to achieve outstanding sales results." Mr. Cha said.

The Global Tendering
The Sukhothai Hotel has won numerous international acclaims over the years and has a large following around the world. In view of the international recognition of the Sukhothai brand name, HKRI is planning to offer The Sukhothai Sky Villa, the largest penthouse of The Sukhothai Residences, for Global Tendering by the end of this year. Further details of this Global Tendering will be announced in the near future.

"We aim to provide a dream home for the discerning few who value quality living and appreciate the Sukhothai culture. Bringing together our extensive experience in developing luxurious residences and the excellent spirit and services of The Sukhothai Hotel, The Sukhothai Residences is poised to become the most exclusive, ultra-premium condominium project in Bangkok. We are confident that this very stylish project will be well received by the market and bring new vision to the Thai property market." Mr. Cha concluded.