Designer upbeat on condos

Image from DWP website.

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Bangkok-based Design Worldwide Partnership (DWP) is bullish about this year's revenue prospects, driven by a large number of new condo projects set to be launched in the second half.

According to business development director Tinnapat Kaewmueang, many condo projects are in the pipeline after most developers focused on transferring and selling units at completed projects in the first half.

"Despite a very small number of new projects launched in the first half, the Thai market fared quite well for us, as we've got design jobs from non-residential projects, renovation work and interior design," Mr Tinnapat said.

In the first half, DWP recorded 25% year-on-year revenue growth. The firm expects to maintain 25% growth by year-end. Last year it posted 25% growth, higher than the average of 20% during 2010-14.

According to Mr Tinnapat, the high-end segment has experienced leapfrogging growth during the past two years, helping to boost the company's revenue last year. The company will focus on customer service and support this year.

One of the key messages that DWP will deliver to customers is the brand experience of the super-prime residential market, said Mr Tinnapat, an architect who worked in branding and advertising during the past decade before joining DWP in May.

He said brand development in the residential market has its roots in 1980s North America as a response to the demands of ultra-high-net-worth individuals.

Branded residences, which used to be a niche product for top-end markets, tend to highlight quality, design and service.

"Brand experience redefines how developers must create an aspirational project by leveraging off the extra concept, lifestyle and services offered by world-famous brands," Mr Tinnapat said.

Apart from Thailand, another growth market is the Middle East, where DWP has offices in Dubai and Abu Dhabi in the United Arab Emirates; Jeddah in Saudi Arabia; and Bahrain.

The Persian Gulf market, which fell off for a few years after the financial crisis in 2009, has picked up since 2011.

With a total of 450 employees, DWP has offices in Thailand, Malaysia, Singapore, Vietnam, Australia, China, Hong Kong, Bahrain, the UAE and Saudi Arabia.

In Asia and the Middle East most projects are residential, while in Australia they tend to be community malls and mixed-use developments.

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