It may not (yet) be in the same league as other real estate giants, but “Fragrant Property”, a mixed-blood Thai-Taiwan developer is undeniably an emerging new comer. 4-5 years back, it put the condominium market on fired when it first kicked-off ‘Frangrant 71’, the condominium project in Sukhumvit 71. Shortly followed by the Prime 11, in yet another Sukhumvit hot spot. And its latest luxury condominium project on the market, ‘the Circle’, on the New Petchburi road is also talk of the town. Roughly, the investment of all 3 projects, construction cost only – not including cost of land, exceeds 3,800 MB.
Mr. James Duan, a successful Myanmar businessman, is a co-founder and CEO of Fragrant Property.
Mr. James was originally from Yangon, Myanmar. He had been in an import-export business in Thailand for over 20 years. Just before the ‘Tom Yum Kung’ crisis struck, he got into property trading business at its highest peak just before the bubbles burst. Despite that, it got him interested in the real estate business.
However, real estate business is tough, it needs substantial funding and expertise in real estate market. He, therefore, partnered with the Taiwanese investors who have more than 20-year experience in real estate business. They first launched their business in Thailand in 2003 and continually expand the business with the confidence that Thailand’s real estate market is still on a rising trend – even though there is a slow-down in market growth at the moment. Research also shows that more than 3 million Bangkokians have an intention to buy and live in a condominium in the near future. Their city lifestyle makes condo a very attractive option because it is more convenient and for security reason.
Mr. James’ vision is to make “Fragrant” a creative real estate developer who never stops bringing in innovation, in other words, creating innovation to infinity. Each product development for every project must be unique. Each project must show creativity. Take, ‘Circle’, for an example. Besides the unique design which distinguish it from other projects, the cutting edge technology used in the project is also the newest trend in the market for Fragrant’s positioning is to develop high-end products with selling price of Baht 80,000 – 100,000 per sq.m.
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