CG Capital, the Leader in Branded Residences in Thailand, Marks Milestone Success for InterContinental Residences Bangkok Asoke Amid Global Economic Uncertainty

Reaffirming Thailand's status as a world destination for the luxury residences market

Phoom Chirathivat, Managing Partner and Co-Founder of CG Capital. The company unveiled its forward-looking vision for the luxury residential and hospitality markets in Thailand, alongside the official launch of the sales gallery for InterContinental Residences Bangkok Asoke. The project carries a total development value of THB 5.5 billion, with two-bedroom units starting from THB 44.8 million. Reservations have already surpassed 60% ahead of the project's official public launch, a clear sign of confidence in CG Capital's strategy and its world-class standards.CG Capital's Vision: Reading Global Volatility, Positioning Thailand as a World Destination.

Mr. Phoom Chirathivat, Managing Partner and Co-Founder of CG Capital, said that despite a difficult global economic backdrop, marked by slowing markets, geopolitical conflict, and volatility in traditional capital markets, CG Capital sees Thailand's luxury real estate market moving in the opposite direction. Driving this is a major shift in the behaviour of the world's wealthiest individuals: a wave of global wealth migration. Data from Henley & Partners shows the number of high-net-worth individuals (HNWIs) relocating globally has surged from 51,000 in 2013 to 142,000 in 2025, a 178% increase over 12 years.

"Global markets are slowing down, but Thailand is holding its position as a world destination. Demand from HNWI buyers, both Thai and international, hasn't dropped off. If anything, these buyers have become more selective about the assets they choose. That tracks with what we're seeing from Thailand's Board of Investment, which has approved Long-Term Resident visas for more than 6,000 wealthy global citizens since 2022. Thailand isn't just a tourism destination anymore. It's become a place HNWIs choose for long-term residence and investment," said Mr. Phoom.

Claiming the Asian Crown: The "Right Brand, Right Partners, Right Product" Strategy

Rising demand for high-end residences has pushed CG Capital's investment strategy toward branded residences, the fastest-growing segment of the market. Thailand currently holds the largest market share of branded residences in Asia at 23.3% of the region's USD 26.6 billion total market value, ahead of the Philippines (17.3%) and South Korea (11.6%). CBRE's Global Branded Residences report ranks Thailand 4th in the world by number of projects, with Bangkok and Phuket sitting among the world's top 10.

Mr. Phoom Chirathivat added:"The success of InterContinental Residences Bangkok Asoke comes down to understanding global trends. What sets us apart is 'Right Brand, Right Partners, Right Product,' paired with Bangkok's best location, Sukhumvit. We're not chasing a trend. We're reading the market and building on the long-term confidence we have in this country."

From Private Equity DNA to World-Class Product Development

What sets CG Capital apart, as the largest private equity fund manager in Thailand's real estate and hospitality sector, is the way it applies institutional investment thinking to every part of development. Long-term asset value gets weighed through two lenses at once: capital appreciation and living experience.

CG Capital's Next Steps and the Official Sales Gallery Launch

Looking ahead, Mr. Phoom said CG Capital will keep pursuing new investment opportunities in the hospitality segment, setting new standards for Thailand's real estate industry. "Reservations above 60% so far are a clear vote of confidence in CG Capital. Now that the sales gallery is open to the public, we're confident the design and craftsmanship on display will help the project move quickly toward its sales target, further cementing CG Capital's position as Thailand's leading branded residences developer," he said.

InterContinental Residences Bangkok Asoke welcomes visitors to view show units at the sales gallery from 4–5 July onward. Interested parties may schedule an exclusive private appointment via https://residencesasoke.com/
or Tel: 092-989-2616

Expanding the Reach: Bringing the Project to International Buyers

Alongside the sales gallery opening in Bangkok, CG Capital continues to take InterContinental Residences Bangkok Asoke directly to international buyers. The project will next be featured at "Thailand: A New Chapter Begins," an exclusive showcase hosted by CBRE Thailand in collaboration with Taiwan Sotheby's International Realty in Taipei on 3 – 4 July 2026, from 1:30 p.m. – 5:00 p.m. at W Taipei (Strategy Room 1).

Taiwan is a market CG Capital sees as a promising source of long-term residence demand. According to CBRE Thailand and Real Estate Information Center (REIC), Taiwanese buyers now rank as the fourth-largest group of foreign buyers in Thai property market, with transaction value growing an average of 27% a year between 2023 and 2025. Thailand's appeal to this group comes down to geographic proximity, competitive entry pricing, and a lifestyle suited to long-stay living.

For CG Capital, the event is also a chance to read first-hand how Taiwanese HNWIs are thinking about long-term residence and investment in Thailand. Interested parties in Taiwan may get in touch, please contact Taiwan Sotheby's International Realty 0800.887.288 (Taiwan) or CBRE Thailand +66(0) 81 742 6624 (Thailand).

Hashtag: #CGCapital #InterContinentalResidencesBangkokAsoke


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About CG Capital

CG Capital Advisory Limited manages private equity investments for blue-chip domestic and international institutional and UHNW investors with an inaugural fund size of THB 10 billion, investing primarily in Thailand's hospitality, tourism, and real estate sectors through greenfield, brownfield, and turnaround strategies. Its diversified portfolio includes hotels, branded residences, condominiums, amusement and water parks, and mixed-use developments, focusing on Thailand's leading travel destinations such as Bangkok, Phuket, Koh Samui, and Pattaya.

Led by Mr. Phoom Chirathivat, Managing Partner and Co-Founder of CG Capital, the firm combines deep expertise in investment and hospitality with a strong conviction in Thailand's tourism potential—particularly within the luxury and lifestyle segments.

Legal disclaimer
Sixteen Residences Limited, being the current owner and developer of InterContinental Residences Bangkok Asoke, is solely responsible for the development, marketing, and sale of the Units. The Units are not owned, developed or sold by InterContinental Hotels Group PLC or its affiliates (collectively "IHG"). There exists no joint venture, partnership, ownership or similar relationship between Sixteen Residences Limited and IHG. IHG is not responsible for the content presented in this press release.