SC Asset and Tokyo Tatemono Launch Rosewood Residences Bangkok
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SC Asset Corporation and Tokyo Tatemono Group are jointly developing Rosewood Residences Bangkok on the former Srifuengfung Building site on Rama 4 Road, directly opposite Lumpini Park — one of Bangkok's most important green spaces. The 37-story tower will offer a limited 85 units on a 2-1-87 rai plot reportedly acquired in 2024 for over 3.5 million baht per square wah, valuing the land at more than 3.5 billion baht. Savills Thailand estimates the project's selling price may exceed 550,000 baht per square meter.
Patthachai Tiwawong, Senior Director of Research and Communications at Savills Thailand, revealed that Thailand's branded residences market continues to expand, ranking first in Asia-Pacific for completed projects and among the top 10 globally for projects under development. Cumulative supply stands at approximately 18,801 units worth 220 billion baht. In 2026, around 650 new units are expected to launch, a 32% increase year-on-year, with Bangkok and Phuket as primary markets. Growth drivers include demand for luxury and ultra-luxury housing, rising high-net-worth buyers, and partnerships between developers and global hospitality brands.
According to Savills Global Residential Development Consultancy, Asia-Pacific accounts for about 23% of completed branded residence projects worldwide, with an additional 187 projects slated for delivery by 2032 — a 97% increase — fueled by wealth accumulation and a growing ultra-high-net-worth population, particularly intra-Asian buyers. Thailand's branded residence projects are projected to surge 152% by 2032, reflecting long-term growth potential. Bangkok remains the key market for luxury and ultra-luxury projects, while Phuket benefits from holiday home and investment demand from both Thai and foreign buyers.
Notable 2026 activity includes Upper House Branded Residences, the world's first such project in Bangkok, which achieved over 10 billion baht in sales within six months of launch, with some units priced above 850,000 baht per square meter. InterContinental Residences Bangkok Asoke, developed by CG Capital with IHG Hotels & Resorts, continues to attract strong market interest. Patthachai noted that competition in the branded residences sector now extends beyond brand reputation to encompass location, design quality, privacy, and service standards, with projects offering a complete package commanding premiums over conventional luxury condominiums.
