Hylife Developments Launched the 1st Project in Chiang Mai
Exceeding sales target by more than 90%, continuing to expand the luxury segment.
Within only 7 months after launching its first projects in Chiang Mai this year, Hylife Developments exceeded its sales goal by more than 90%. Currently, the company is preparing to launch 2 new projects in the first quarter of 2023 to increase the number of high-end consumers.
Mr. Shubhodeep Prasanta Das, Chief Executive Officer of Hylife Development Co., Ltd., a real estate developer in Chiang Mai, revealed that the company was established in 2018 with a registered capital of 100 million baht. In order for each project to be valuable for both investment and living, the company places a strong emphasis on selecting the best potential locations. With the aim to improve the quality of life for Thais and foreigners in Chiang Mai, the company has assembled a team of professionals with expertise in the national real estate industry, including both Thais and foreigners.
Hycondo Thsala Phase 1, a low-rise condominium in the style of a city condo, was launched in April. Hycondo is valued at 169 million Thai baht, located in the center of the new economic sector, and ready to move in. As a result, this project gains a lot of positive feedback from investors, workers, groups of business owners in Chiang Mai and neighboring provinces, as well as from people in neighboring countries who see the investment potential in the project, causing the company to close the sale of the project by more than 90%.
For the business plan in 2023, the company plans to launch two new projects, both low-rise and high-rise residences continuously in order to expand its customer base in the luxury segment. The first project is Hyparc Residences Hangdong phase 1, a low-rise luxury resort condominium with a mountain view located in Hang Dong district, which is a popular residential area for the new generation, tourists, and foreigners, surrounded by various facilities such as 12 international schools, golf courses, Kad Farang Village, famous restaurants, and close to Chiang Mai International Airport. The starting price is only 4.4 million baht.
Another project is the luxury vacation pool villa named Hyluxe Mae Rim total valued at 311 million Thai baht and has only 11 units. It is surrounded by mountains, close to Prem Tinsulanonda International School, and on the route to Mon Jam, a well-known tourist attraction. The starting price is only 24 million baht. It is suitable for families looking for a second home with a private location. The highlight of these two projects is their location which meets the needs of convenience, not far from the city and community, and also close to nature. The project design focuses on unique designs and functions, however, still meets the needs of a modern lifestyle. It is expected to be completed and ready to visit in the first quarter of this year (2023).
The Chiang Mai real estate industry, nevertheless, is thought to be heading in an overall better direction. It is expected that investors from Bangkok and tourists, especially Chinese, will return to Chiang Mai more in 2023 due to the country's opening up after the COVID epidemic situation. According to Thai law, which allows foreigners to own a condominium unit in the amount of 49%, Chiang Mai continues to attract foreign investors. Despite the COVID epidemic situation, Chiang Mai is still a wonderful tourist destination. It also has the proper educational system in the area, where foreign parents prefer to send their children because tuition is affordable compared to other locations.