City Dynamic Sells 100 Ultra-Luxury Units Worth 10 Billion Baht
City Dynamic, a joint venture between City Realty and Swire Properties, has sold over 100 ultra-luxury units worth more than 10 billion baht at its Upper House projects on Bangkok's Witthayu Road within six months. The company targets 150 units for the year and plans to expand marketing to Hong Kong, Taiwan, and Japan. Co-Managing Director Thomas Woolsey notes that while economic uncertainty makes high-end buyers more cautious, demand remains strong for prime freehold locations with proven brand quality.
City Dynamic Ltd., a joint venture between City Realty Ltd. and Swire Properties Ltd., announced sales success for its ultra-luxury residential projects "Upper House Residences Bangkok" and "The Wireless Residences by Upper House" on Witthayu Road. The projects have achieved combined sales exceeding 10 billion baht from more than 100 units within six months, with a 2026 target of 150 units. The company plans to expand into international markets — Hong Kong, Taiwan, and Japan — to access high-purchasing-power buyers.
Thomas Woolsey, Co-Managing Director of City Dynamic representing Swire Properties, revealed that the private sales response reflects buyer interest in upper-end residences, particularly those distinguished by location, development quality, design, and differentiated services — key confidence builders in the ultra-luxury market.
Currently, both projects have combined sales exceeding 10 billion baht, representing approximately 100 units against the 150-unit target for 2026. The company believes the initial private sales phase helped the team better understand buyer preferences regarding living formats, unit sizes, and decision-making factors before broadening marketing efforts.
However, the overall high-end property market still faces challenges from economic uncertainty and geopolitical conflicts across multiple regions, affecting investment sentiment and purchasing decisions — especially among buyers considering second homes or long-term investment assets.
Woolsey noted this environment leads buyers to spend more time researching and comparing options across markets, evaluating location suitability, project quality, value, and potential external risks before committing. Developers must therefore provide clear information and build confidence through product quality, construction standards, and on-time delivery capability.
Longer consideration periods do not mean buyers are abandoning investment altogether, but reflect more cautious behavior, particularly among upper-end buyers who prioritize asset quality and long-term ownership suitability. The company aims to clearly differentiate its projects to meet the demands of discerning buyers.
Freehold land on Witthayu Road drives unit prices above 850,000 baht per sq.m.
Regarding project highlights, Woolsey emphasized the advantage of developing on Witthayu Road — a central location connecting business districts and amenities, offering privacy and proximity to large green spaces, especially Lumpini Park and Benjakitti Park. Freehold land in such a prime location is extremely limited.
Additionally, the project brings the internationally recognized Upper House brand — acclaimed for design and service — to residential development for the first time globally, combining City Realty's Thai market expertise with Swire Properties' luxury development experience to create a living standard focused on privacy, quality of life, and service detail.
