PACE Development Corporation is a Bangkok luxury developer founded in 2004 by the Techakraisri family, originally under the name Cinkara. It went public on the Stock Exchange of Thailand in 2013 under the ticker PACE; Thailand’s SEC database now lists it among non-listed companies. Its portfolio includes the boutique Ficus Lane, Saladaeng Residences, NIMIT by Lumpini Park and the MahaSamutr resort in Hua Hin, and the company also owns the Dean & DeLuca brand.
Its best-known project is MahaNakhon in the Silom/Sathorn business district — a 314-metre tower designed by Ole Scheeren and completed in 2016. It houses The Ritz-Carlton Residences, Bangkok: 209 homes serviced by Ritz-Carlton. In 2018 PACE sold the tower’s hotel, observatory and retail space to the King Power group, and the building was renamed King Power Mahanakhon. The residences belong to private owners, while building management passed to Ritz-Carlton.
For a resale buyer today, the operator matters more than the developer: review the management agreement with Ritz-Carlton, the service charges and the rules on renting out a residence.
