Page 19 - Charn Issara Development Public Company Limited | Annual Report 2014

Annual Report 2014 17
style by the renowned Habita Architect. Inspired by water,
the architecture shows unique water features such as
lotus pond and freeform swimming pool which are well
integrated into the lush greenery of the landscape. The
Baht 1,800 million project which is sold by more than
50% is expected to be completed by 2015. This project is
developed by a subsidiary company, Issara United Co., Ltd.
1.8 BLU project is the subsequent residential condominium
project following the two quality projects namely Baan
Thew Talay Aqua Marine and Blue Sapphire, the best
condominium in Thailand which won awards for two
consecutive years from the International Property Awards.
Developed by the Issara United, the outstanding landscape
by Cha Am beach was conceived from the lifestyle concept
of living on atoll similar to Maldive. Featuring a charming
tropical seaside living, the first step on BLU will make you
feel the stylist luxury yet humble entrance architecture
amongst trees and shrubs connecting entrance and lobby
with a view angle open up to the enormous swimming pool
surrounding the building. The 21-storey building on 7 rai of
beach front site house30-60 square meters 1-2 bedrooms
with a starting price of only Baht 1.89 million is expected to
be completed by 2017. This project is developed by Issara
United which is a subsidiary company.
1.9 Issara Collection Sathorn project is a luxury 7-storey
residential condominium packed with premium
qualifications on the golden location of Sathorn road. This
is another outstanding development of Issara Group who
won awards in property developments both in Bangkok
and resort destinations of this country. The limited 33
units consist of 2-3 bedrooms and 3 bedrooms duplex.
The Issara Collection Sathorn is ideal for family living with
spacious space of European kitchen and Thai kitchen in
some units, high ceiling clearance exceeding generally
accepted standard and usable space exceeding 100 square
meters in each unit contribute to the homey atmosphere
for resident. Luxury lifestyle is fulfilled in some units with 15 years of operation under the agreed fix rental.
private elevator and individual interior decorations. This
project is undertaken by Charn Issara Vipaphol Co.,Ltd.
which is subsidiary company.
Charn Issara Development Public Company Limited
1.10 Located in Amphur Muang, Chiang Mai province,
the Issara Chiang Mai project is a luxury residential
condominium consisting of 4 seven-storey buildings
with a total 448 units. Each unit is designed for maximum
function to satisfy everyone in the family. Unit sizes
range from 35-70 square meters of 1-2 bedrooms at the
starting price of Baht 1.89 million. There are numerous
facilities namely large lounge, library, Jacuzzi, freeform
swimming pool, an exercise room, jogging track, parking
and 24 hours security services. This project is developed
by a subsidiary company, Charn Issara Vipaphol Co.,Ltd.
2. Office building and retails space for sale, long
term lease and rent : Charn Issara Tower on Rama 4 and Charn
Issara Tower 2 on New Petchburi Road. The Company manage
a total of 34,513.29 Sq.m. of lettable space which comprise of
the Company’s space of 3,825.61 Sq.m. and 30,687.68 Sq.m. of
contracted management for Bangkok Commercial Property Fund.
As of year ended 2013 occupancy rate was 90% of total rentable
space with leading tenants such as Siemens, and Samsung Life
Insurance for instance.
3. Hotel business Charn Issara Residence Co.,Ltd. which is a
subsidiary company has embarked on a hotel business at Sri Panwa,
Phuket province in the 3rd quarter of the fiscal year 2006. The hotel
is categorized as a boutique hotel under the brand of Sri panwa.
Started with 11 pool villas the hotel was granted a hotel operation
license for the operation of 18 rooms and later another 23 units of
pool villa in phase 3 have been added on. The total facilities were
completed in the year 2009 and was well receptive by both Thai
and foreign guests. Later in the year 2012 the Company has sold
the hotel part which consists of 21 rai 55 square wah of land and
buildings including pool villa, family suite, 38 units of luxury villa,
and 7 units of service apartment together with all related hotel
facilities to Sri Panwa Property Fund while the Company hold 30%
of the units issued by the Fund and lease back Sri panwa hotel for
4. Office building management, management
of condominium juristic person/housing juristic
person and property project management
the Company was appointed by Bangkok Commercial Property Fund
as Property manager and Assets manager for the Fund’s assets
including office suites in Charn Issara Tower and Charn Issara Tower
2 totaling 30,687.68 Sq.m. for a period of 10 years. In addition, the