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Kingdom Property sells Suites Tower at Southpoint Pattaya
An artist’s drawing shows the
completed Southpoint Pattaya project by Kingdom Property.
Real estate developer Kingdom Property recently announced
the sale of its entire The Suites Tower at its twin-tower Southpoint Pattaya
project to a local Thai investor, who will develop the 224-unit building
into internationally managed serviced residences.
The purchase represents approximately 30% of the saleable area of the 672
condominium project and is something of a coup for the rapidly growing
developer, which has amassed a project pipeline valued at THB10 billion in
Pattaya.
Interest in Southpoint has been strong since its Environmental Impact
Assessment (EIA) approval in November last year and ahead of the opening of
its sales gallery and show suites in April, with top buyers coming from
Thailand, Japan, China and Russia.
The sale is indicative of not only the strength of the destination with the
booming Eastern Seaboard manufacturing zones nearby, but of a healthy
tourism industry where over eight million hotel guests were registered last
year.
“Pattaya has very strong fundamentals as a destination offering an
attractive investment proposition, superb access and infrastructure as well
as an enviable lifestyle with sailing, golf, waterparks, shopping and dining
as key draw cards,” said Kingdom Property Chief Executive Officer, Nigel
Cornick.
“We are delighted with this transaction as it is not only a good sale for
us, but it will add greater value to those seeking units in The Residences
Tower - or those who have already made a purchase - and further compliment
the Pratumnak area where we are located, which is a peaceful and green area
while still being very close to town, so ideal for residential living.”
Southpoint Pattaya is located a short distance south of Bali Hai in Pattaya
City, on an elevated site on Pratumnak Hill, offering extensive sea views
and within walking distance of the Royal Varuna Yacht Club. The THB 2.5
billion-valued development is on a four rai freehold plot and will be
completed in 2015.
Unit sizes start from studios of 30sqm, with one-bedroom units ranging from
41sqm to 87sqm and two-bedroom units ranging from 61sqm to 97sqm. Prices
range from THB 70,000 to THB 120,000 per square metre. The condominium
includes a dedicated sky deck in each tower with an infinity edge lap pool
and fitness center along with a landscaped family zone featuring a
children’s pool and playground.
The project is led by Nigel Cornick, and supported by a strong development
team including SODA (design), The Beaumont Partnership (master planning),
Colin K. Okashimo and Associates (landscape) and Meinhardt (MEP and
structural engineering).
For sales enquiries, visit: www. southpointpattaya.com or call the Pattaya
Sales Office on 038 416 441
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Matrix Development
opens door to The View
Pattaya Mail talks to Matrix chief Miki Haim
about his company’s latest completed project The View.
With so many off-plan developments in the city, the
Pattaya Mail team was delighted to be invited recently to a project that has
actually been completed, and been given the green light by the governing
bodies to allow residents to move in.
The View is the latest in a long line of projects by the Matrix Group; it
lies in a quiet soi moments away from Cozy Beach and just off Pratumnak
Road.
This ultra modern single tower consists of 122 luxury apartments made up of
1 & 2 bedroom units staring from 1.6 million baht. The development features
a roof top pool & relaxation area, café, fitness center, and sea and
mountain views.
Managing Director Miki Haim hosted the March 19 party for the Kasetsin Soi 7
development, with friends, media and estate agents offering their
congratulations.
After the official ribbon cutting we took some time out with the Matrix boss
to talk to him about his company’s new addition to its growing portfolio of
developments.
Miki Haim, Managing Director of Matrix
Development, welcomes guests to the opening of The View condominium,
Tuesday, March 19, 2013.
Paul Strachan: Miki nice to see you and well done, it’s a
great project - it feels like a first class hotel.
Miki Haim: Yes we wanted to give the customer the feeling that they are
living in a luxurious area in a luxury building, so we gave them all the
facilities to make their holiday homes.
P.S: When you get offered the land how long does it take you to make a
decision on it?
M.H: To be honest, it was in my mind something like four hours. The agent
showed me the land, I paid the deposit and got straight on with creating the
design and in the end we created 20 floors on one rai.
P.S: That’s fantastic, so this is your first high rise?
M.H: The first high rise, yes.
P.S: How many projects have you in Pattaya?
Miki Haim (center) is
congratulated by Pattaya Mail’s Tony Malhotra (right) and Paul Strachan
(left) on the opening of the new addition to Matrix’s growing list of
Pattaya developments.
M.H: We have Hyde Park 1 & 2, Pattaya Heights, Sunset
Boulevard 1 & 2, Park Lane, Paradise Park, The View, The Vision, The Amazon,
and now we start to sell City Center and The Sky. Around 10 projects
already, and this month we will do the transfers for The View, Paradise Park
is already finished and we are in the final stages for Art on the Hill and
Sunset Boulevard. It’s a lot of work, but this is my main focus to do the
transfers for my customers this year.
P.S: Many other companies have copied the business model you started all
those years ago, i.e. a fully furnished condo for 1 million baht, but with
the View the rooms are bigger, is it a different market?
M.H: Of course, yes, first of all it is a high rise and you need to know
where you are going. When you split the money over a big piece of land, if
you make a mistake it’s a small mistake, but when you are working with a
small piece of land and the investment is 1 billion, it’s far more
complicated. But in the end, as you see from our experience with the low
rise projects, we can also make a high rise easily and we have another two
projects to make.
The View rises 20 floors into
the Cozy Beach skyline.
P.S: In your speech today for the opening ceremony you
said that Matrix will be branching out to other cities in Thailand, can you
tell us where?
M.H: At the moment we are doing research, but Matrix will do other types of
projects in cities much bigger than Pattaya. I can’t say where at the moment
until we have concluded our research.
P.S: What is the demographic of your customer base now? The UK Pound is
weak, as is the Euro, so who are the people with the money to purchase right
now?
M.H: As you may know, the marketing system for Matrix is one of the best in
the city. We have a very strong international department which sells a lot
to the Japanese, the French, the Chinese and the Singaporeans. We continue
to develop our marketing team, not just focus on construction.
P.S: I remember at the property seminar six months ago you mentioned that
the emerging markets were from France & Japan. These nations used to holiday
here but now it seems they invest here as well, so it looks as though the
world is changing. Do you think the perception of Pattaya has changed, like
it’s getting rid of its dark side?
Additional living space and
luxury are standout features of The View.
M.H: I think it depends on where they come from. The new
real estate regulations coming into force in Japan, China or Singapore for
example make it more attractive for investors from these countries to buy
overseas. Secondly, many of them come here in groups, so it depends how you
manage it and we know how to take care of them.
P.S: Today you were joined by some of the new residents here at The View as
you said you had been granted the certificate you need to let them move in,
what is it called?
M.H: It’s called an O6 and the process basically goes as follows: first you
need the EIA approval, then the O1, which is permission to build, and then
you get the O6 which is granted once all the construction is finished. So
now we can take all the documents to the land office to prepare the Chanots
for the customers.
P.S: That must be a great feeling for you because that’s the last stage -
now the people have a home!
M.H: Of course, every part of the business is to deliver the unit to the
customer. It’s not just about handing over the apartment: you need to finish
all the processes and this is what we are doing with The View. I believe in
the end we will do this with all our other projects; some are still in
progress and I hope to get good news from all the others very soon.
P.S: Well Miki I think this is a real boost for Pattaya, what you’ve done
today, because there seem to have been a lot of projects that have been
languishing and not reaching completion. Now on the back of high season,
this opening today helps get a little bit of confidence back in the market
and underlines that in terms of developers, you are one of the major
players.
M.H: Yes, what I can say is that Matrix is not maybe the best, but for sure
we know how to deliver in the end. We know how to complete our construction
and we deliver everything to the customer that we promised, and this is very
important. We have also just won an International property award for the
Vision, this is a highly respected award in terms of international marketing
and it will bring a lot of respect to this city!
Note: For more information on The View and other Matrix projects, go to
www.matrix-developments.com.
(Interview conducted by Paul Strachan/Pattaya Mail)
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Embassy condo developer throws ‘thank you’ party
Management of property
developer Angel Ken & Sky pose with Pattaya City officials at the “thank
you” party held March 11.
Property developer Angel Ken & Sky threw a “thank you”
party for customers of its new Embassy condominium project, which has sold
90 percent of its units since being announced in November.
CEO Aphichart Prasithnarit hosted the March 11 party, attended by Pattaya
deputy mayors Ronakit Ekasingh and Verawat Khakhay, and customers, who vied
to win prizes in a drawing, including an Apple iPhone and a trip to
Australia. Guests enjoyed food and drinks and a chance to meet their future
neighbors.
An artist’s rendering of The
Embassy condominium.
Aphichart, whose company has developed 48 properties in
Pattaya, Bangkok, Phuket and Hua Hin in its 19-year history, said the
Pattaya market has grown appreciably in the past two years. The number of
large investors in the area’s property market confirms the country’s
economy, as well as Pattaya’s, are growing. He said he expects Pattaya to
continue growing, especially after Thailand enters the ASEAN Economic
Community in 2015.
Developed on Pattaya’s last large plot of vacant land off Sukhumvit Road,
the 450 million baht Embassy is comprised of two, eight-storey buildings
offering 198 units. Amenities include swimming pool, fitness center, a
“barbecue lounge,” and complex-wide wireless Internet access.
Prices of units in the project
start at just 1 million baht.
Management is also arranging trips to Australia where
customers will have their photo taken and that photo will be used as
wallpaper in their condo unit.
Prices for a fully furnished 23-57 sq. meter unit begin at 1 million baht.
Facilities include swimming pool, gym and more. Only 10 percent of the units
remain on the market.
Construction is slated to begin within months with completion in 2015. For
more information, check out the company’s website at TheEmbassyCondo.com.
(By Thanachot Anuwan)
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Matrix, CBRE among
winners at Asia Pacific Property Awards
LLocally based Matrix Developments has been informed that
it is amongst the winning entries of the 2013 Asia Pacific Property Awards
(part of the annual International Property Awards). Matrix Developments
competed against a number of developers in the region to receive this
prestigious recognition.
Property management company CBRE Thailand also fared well in this year’s
voting, achieving top-three rankings in all real estate categories in nearly
every major market across the region, from New Zealand to China. Including
wins in previous years, CBRE has now garnered 36 awards overall.
Successful entrants from this year will attend a high-profile gala and
presentation dinner at the Shangri-La Hotel in Kuala Lumpur, Malaysia on May
10, where the official announcements will be made.
Stuart Shield, president of the International Property Awards, said, “The
entries that we receive from the Asia Pacific region become more impressive
year after year. The winning companies have outshone their peers and proven
exceptional levels of professionalism and competence in their field.”
The Asia Pacific Property Awards are part of the long established
International Property Awards. The award winners’ logo is recognised as a
symbol of excellence throughout the global industry.
Later this year, the highest scoring winners from the Asia Pacific Property
Awards will compete against other winning companies from Europe, Africa, the
Americas and Arabia to find the ultimate World’s Best in each category. The
Asia Pacific region has an enviable record of achievement at international
level, having scooped an unbeaten total of 12 World’s Best Awards in 2012.
The judging panel consists of approximately 70 professionals including Fiona
Nixon, chairman of the Australian Institute of Architects; Patrick Grove,
co-founder of IPGA Ltd; Peter Bolton King, group chief executive of the
National Federation of Property professionals; David Dalby of the Royal
Institute of Chartered Surveyors (RICS); and Mike McNamara of the Royal Bank
of Scotland (RBS).
Building upon the success of business events first added to the 2012 award
ceremonies, the International Property Awards will also host a Property &
Hospitality Show on May 9 and 10 at the same venue in Kuala Lumpur. A number
of professional networking events, including seminars, discussion tables and
an exhibition will be attended by Presidents, CEO’s, Managing Directors,
Chairmen and other decision makers.
The event presents an ideal opportunity to make connections and generate new
business. The 2013 Asia Pacific Property & Hospitality Show is open to all
industry related companies and suppliers in addition to award participants.
For more information, go to
www.internationalpropertyevents.com/asia-pacific.
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CW Asset announces
AbaTalay Condominium
An artist’s drawing shows the
AbaTalay Condominium in Jomtien.
CW Asset Co. last month launched its latest Eastern
Seaboard project, the AbaTalay Condominium, which the company says offers
luxury at extremely affordable prices.
Sales Manager Chris Dixon hosted the March 16 party at the company’s sales
office, updating customers on its Bang Saray developments and showcasing
AbaTalay’s offerings.
Located close to Jomtien Beach on Soi Wat Boon 3 and Soi Chaiyapruek,
AbaTalay offers 215, 23 sq. meter units in an eight-storey building. Prices
begin at 699,000 baht. Features include rooftop swimming pool and fitness
center, ground-floor café, wireless Internet, ocean views and underground
parking. Units can be combined to create 2- and 3-bedroom condos.
At the party, Dixon unveiled an offer for free furniture and air conditioner
valued at 100,000 baht. About 40 percent of the units already have sold, he
said.
The company already has the Bang Saray Beach Condominium under development
and has sold all but a few units at prices beginning at 775,000 baht, Dixon
said. The CW Ocean View Condo, also in Bang Sarary, is offering units
starting at 730,000 baht.
For more information on any of the developments, call 091-232-7981.
(Vittaya Yoondorn/Pattaya Mail)
The project encompasses 215
units in an eight-storey building.
The CW Asset Co. sales team
pose for a photo at the March 16 party.
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Universal Group lays cornerstone for Seven Seas, announces new Savanna Sands project
Universal Group managing
director Harish Manwani (left) inscribes the headstone for the Seven Seas
Condo Resort Jomtien at the foundation stone laying ceremony held at the
construction site in Jomtien, March 13.
After recently laying the headstone for their Seven Seas
condominium project, executives and partners of Universal Group organized a
party March 23 to thank agents, sales staff and customers and also announce
the company’s second development in Pattaya, the Savanna Sands condominium,
due to be launched by the end of this year.
Savanna Sands will be a resort style condominium inspired by the spacious
open prairies of Africa, and will certainly introduce a new concept to the
condominium market in Pattaya. The project will be constructed on 12 acres
of land on Soi Wat Bun, Jomtien, and will consist of 3 high rise buildings
of 26 floors each, encompassing a total of 1,500 fully furnished units.
The Seven Seas Condo
executive committee join with partners, agents and friends for a group photo
following the project’s headstone laying ceremony in Soi Chaiyapruek.
Room sizes are slated to range from studios at 26 m sq, 1
bedroom at 35 m sq, 2 bedrooms of 56 m sq, plus penthouses on the 26th-27th
floors. Prices start from 1.3-16 million baht.
In addition to the residential condominiums, Savanna Sands will also include
a 7-storey hotel on the premises with 150 rooms and offering full resort
style facilities and services.
Earlier last month, monks gave their blessings to Universal Group’s Seven
Seas Condo Resort in Jomtien as executives laid the cornerstone for the
group’s debut project in Pattaya.
Universal CEO Sonia Punjabi, managing directors Harish Manwani and Rajesh S.
Punjabi, and executives Ladislav Polak and Kamala Kumpu Na Ayuthaya together
laid the stone inscribed with the name of the 3 billion baht development and
the date at the Soi Chaiyapruek construction site.
Brahman monks performed a blessing ceremony with a table set to worship the
scared deities to care for the site. After ceremonies, management invited
guests to take photos and join them for lunch at Universal’s showroom.
Ladislav Polak, Director of
Universal Group, Songsak Visudmaromn, MD, Inter Akitek Co., Ltd., Siripanya
Deeboonchai, MD of Vision Inter Properties Co., Ltd., Sonia Punjabi, CEO of
Universal Group, and Rajesh S. Punjabi, MD of Universal Group, pose next to
a scale model of the Savanna Sands project.
Seven Seas has garnered a great deal of interest from
buyers, with its main selling point being its ambitious and unique island
design lagoon pool featuring exotic locations from around the world,
including Easter Island, Hawaii, Madagascar, the Bahamas and others.
The main building will have a spectacular double height lobby and shopping
arcade, whilst the Mystery Island is home to the clubhouse and fitness
center.
Unit prices in the development begin at 999,000 baht. For more information,
see www.universal-thailand.com.
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No significant impact of baht strength on real
estate anticipated
The baht has strengthened significantly over the past recent weeks, reaching
a level not seen since the Thai currency was floated in mid 1997 when the
Asian financial crisis erupted. While the stronger baht has pushed Thai
property prices up in US dollar terms, there has been no sign of any major
impact on real estate transactions in Thailand to-date, according to
observations by real estate management services company Jones Lang LaSalle.
Suphin Mechuchep, Managing Director of Jones Lang LaSalle, commented, “As
the baht currency is strengthening, a concern over the possible impact on
real estate is growing, particularly in sectors that rely on demand from
foreign buyers, such as Bangkok high-end condominiums and resort properties
in key holiday destinations. However, we have not seen any effect from the
strong baht on Thai real estate so far. In fact, we do not expect the
present baht strength to have any significant impact on most property
sectors across the country, unless the Thai currency strengthens at a much
faster pace, which is unlikely to be the case according to economists.”
Baht strength has no impact on Thai and Asian buyers
“Most of the property sectors in Thailand rely mainly on domestic demand at
present. In addition, while demand of buyers from the Americas and the
Eurozone has subsided significantly due to financial turbulences in the two
regions, the majority of foreign demand for Thai real estate over the past
recent years has been from Asian countries, most of which have also seen
stronger local currencies against the US dollar or the Euro,” Suphin
explained.
Based on the year-to-date enquiries Jones Lang LaSalle has received,
interest of foreign buyers in Thai properties including condominiums in
Bangkok and resort condominiums and villas in key holiday destinations has
remained stable. The firm has also received continued enquiries from
overseas companies looking to acquire manufacturing/logistics facilities in
Thailand.
“Despite the stronger currency, Thailand remains one of the cheapest real
estate markets in Asia Pacific. This is one of the key factors that have
kept the country’s real estate markets competitive,” the Jones Lang LaSalle
chief cited.
Thai individuals and corporates encouraged to buy overseas
properties
In the present environment, Thai corporates and individuals may take
advantage of the baht strength to acquire overseas properties.
“There are a number of investment opportunities available in the world’s
well established real estate markets such as gateway cities in the US and
London, from individual residential units through to residential investment
blocs, commercial buildings and hotels. With the baht strengthening and
capital values of real estate assets in these markets remaining attractive,
it may be a good time for ultra-high net worth Thai individuals and
corporates to consider these investment opportunities and act quickly,” said
Suphin.
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Serenity by Nova Group granted EIA approval
Nova Group’s Serenity project
at Wongamat.
The Nova Group recently announced that their Wongamat
project Serenity had been granted EIA approval, as of 11th of March.
Serenity is located at the end of Soi 16 Naklua, nestled just behind Nova
Group’s flagship project The Palm and is only 200m from the beach.
Construction work has already started; the land has been cleared of the
existing buildings that occupied the land, and the piling work will start
early April, and is due to complete within 24 months.
“Our customers are obviously delighted that we have started construction
ahead of schedule, and we thank them for their loyalty and trust in us,”
said Keith Storey, Group Sales Manager for Nova. “We have now relocated the
onsite sales office to a unit on the ground floor of Nova Mirage to make way
for the construction team.”
Serenity has sold over 60% of the project, yet still has many attractive
units remaining. There are studios, one bedroom and two bedroom units
available at Serenity, all units are fully furnished, with some units
available for under one million baht. For more information, call 038 368 045
or visit the website at www.serenitypattaya.com.
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Raimon Land launches Lofts Ekkamai
on back of record financial results
Board director Lionel Lee
(2nd left), flanked by chairman Pradit Phataraprasit (far left) and company
CEO Hubert R Viriot (center) talks at the press conference to announce
Raimon Land’s record financial results for 2012.
Property developer Raimon Land PLC recently announced
record financial results for the year 2012, with a landmark net profit of
THB 496 million (USD 16.6 million). The company’s 2012 EBITDA1 reached its
highest level ever, at Baht 1.058 billion (USD 35.46 million).
Confirming further its sound financial situation, with a secured backlog at
the end of 2012 of Baht 16.3 billion (USD 546 million) and unrecognized
sales in its current projects valued at Baht 28 billion (USD 939 million),
the company saw its gross profit margin jump to 33%.
The announcement was made last month by Pradit Phataraprasit, Raimon Land’s
new chairman of the board of directors, and Lionel Lee, the new director and
majority shareholder.
Expounding on the company’s plan of action, Lee emphasized the strategies
that will be the backbone of its future growth. “We will continue to focus
on high-end property development in Bangkok and resort destinations in
Thailand, which has been instrumental to Raimon Land’s success”, he
explained in reference to the company’s existing projects: The River and 185
Rajadamri in Bangkok, and Zire Wongamat and Unixx in Pattaya.
An artist’s drawing shows The
Lofts Ekkamai project.
“Also, we intend to diversify our activities by
developing additional income-generating sources, such as rentals from
commercial properties, hotel management fees and revenue from food &
beverage outlets,” he added.
First on the company’s agenda is the launch of The Lofts Ekkamai. Targeting
both Thai and foreign customers, the 28-storey project will comprise a total
of 264 units, with a mix of studios and 1, 2 and 3-bedroom apartments, as
well as spacious duplexes designed for modern living.
Conveniently located on 2 rai of freehold land in the trendy
Sukhumvit-Thonglor-Ekkamai area, the Baht 2.1-billion project has been
designed by HB Design, the architectural firm behind the success of
Northpoint in Pattaya, as well as The River and 185 Rajadamri in Bangkok.
The contemporary development looks well placed to answer the strong demand
from a younger generation of condominium buyers for affordable yet
high-quality apartments that offer convenient and close access to public
transportation, excellent facilities and infrastructure. The project’s
official launch is scheduled in Q2 2013, with completion expected by the end
of 2015.
Reflecting the company’s growth strategy, Raimon Land is also looking
forward to the launch of serviced residences at The River under the Klapsons
brand, in reference to the award-winning Klapsons boutique hotel developed
and managed by the Lee family in Singapore.
In a similar move to diversify into new income-generating projects, the
popular Vue fusion mall adjacent to The River could be replicated in other
developments, while The River Promenade could be redesigned as a trendy F&B
destination along the Chao Phraya.
“As a long-term shareholder, we will explore opportunities to leverage on
our business network at the regional and international levels, while
continuing to develop Raimon Land’s brands and preserving the company’s high
quality standards and founding values that are behind its formidable
reputation.” added Lee.
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Island Life Condo offers second home on Koh Chang beach
Chang Park Development Co.
management and sales staff pose for a photo at the reception held at the
Vogue Hotel on March 8.
Chang Park Development Co. has introduced its Island Life
Condo to potential Pattaya buyers looking for a quiet second home on Koh
Chang.
Managing Director Jakrit Chotdumrong and sales director Shane Suwanphan
hosted a March 8 reception at the Vogue Hotel. They said the development
offers a quiet, relaxing spot with condos well suited to serving as second
homes.
Jakrit said the company is spending 500 million baht to clear 30 rai of land
on Kai Bae Beach and construct two, four-story residential towers on three
of those rai. Construction on the buildings, located only 120 meters from
the beach, is slated to begin in May with completion in November 2014.
The complex offers a total of 78 units and Jakrit said 35 percent of those
already have sold. Prices begin at 4.2 million baht for one-bedroom units
running 60-93 sq. meters. Plans also offer 2-3 bedroom units sized between
180 and 400 sq. meters. Those feature private swimming pool access and
balcony.
Jakrit said the atmosphere and amenities are comparable to a 5-star hotel.
For more information, see
www.islandlife.co.th.
(By Thanachot Anuwan)
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Porchland starts construction of La Santir
(L-R) Provost Sopon
Pattanaphirom, the Abbot of Wat Thung Hiang and the advisor of Monnang monks
committee, blesses the headstone as it is put in place by Chisanucha
Phakdeesaneha, CEO of Porch Land, Chalerm Khonjaem, partner of La Santir
project, and Phokphol Phakdeesaneha, MD Vorakit Construction and owner of
the project, for the La Santir development located on Chaiyapruek Road.
Porchland Properties laid the cornerstone on its fifth
condominium project in Jomtien Beach, marking the start of long-delayed
construction for the La Santir.
At its March 22 foundation ceremony, Phokhapol Phakdeesanehea, managing
director of Vorakit Construction and La Santir partner Chalermpol Khonjaem
presided over the laying of the cornerstone, with Porchland CEO Chisanucha
Phakdeesaneha watching on.
The company invited monks from Thung Hiang Temple in Phanasnikhom to pray
for the project’s good fortune. Abbot Sopon Pattanaphirom conducted the
“duang rith” ceremony, in which company executives hammered a stick into a
sand-filled podium, representing the drilling of the building’s pylons. The
monks presented silver and gold bricks to arrange and cover with cement.
La Santir’s projected look
upon completion in 2014.
Announced in December 2011, construction of the project
was supposed to have started 10 months ago, with building completed by this
year. Chisanucha said construction now won’t conclude until sometime next
year.
Developed by Porchland and MG Plus Co., the 900 million baht development is
spread over four rai and 29 floors on Soi 3, Chaiyapruek Road. The 523 units
are split across five sizes and five designs from 26-49 sq. meters. Prices
start at 700,000 baht.
Early buyers predominantly were middle- and higher-income Thais, including
previous buyers of the company’s other projects. About 35 percent of the
units sold before the project’s unveiling and Chisancha said that figure has
now grown to 80 percent.
Sales reps claim the condominium will fulfill tenants’ desires for all types
of recreation, from a galleria with on-site shops to swimming pools for
children and adults, a kids playground, tennis courts and a parking lot
capable of holding 200 cars.
Porchland sees the Eastern Seaboard as a high-growth area and the company
recently announced its seventh project in the area, the Del Mare Bang Saray
Beachfront Condominium, to be built as a joint project with the Apus
Development Group.
(Warunya Thongrod/Pattaya Mail)
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Bangkok’s large public sites push back to the front
Bangkok’s burgeoning demand for prime real
estate could see developer interest return to large public land sites.
While smaller prime land plots around central Bangkok are
becoming scarcer, numerous large sized sites exist across the city ready for
new development or redevelopment. While a few of these sites are in private
control, many are owned by state or quasi-state enterprises or agencies.
With increased political stability and strong economic outlook, developer
interest in these large plots is likely to grow, according to observations
by property management services company Jones Lang LaSalle.
“After Bangkok’s real estate boom in the late 1980s and early 1990’s,
developer interest in large public sites virtually disappeared for several
years as the Asian financial crisis curtailed economic activity and new real
estate development,” said Dan Tantisunthorn, Head of Research and
Consultancy at Jones Lang LaSalle. “The prospect for such large sites was
sparked by economic recovery in the middle of the last decade, with the Suan
Loom Night Bazaar site owned by the Crown Property Bureau representing the
last leasehold site of over 50 rai to be publicly tendered in central
Bangkok in 2005.
“However, an uncertain political environment and global financial crisis
again put these types of projects on the backburner, “he continued. “The
return of a more stable political environment over the past year and a half
and strong economic growth are again raising the prospects for these types
of sites to come back to the market.”
The Island Life Condo will be
a 4-storey development with 78 units on Kai Bae Beach, Koh Chang.
Potential waiting to
be unlocked
A number of these large public sites connect to existing mass transit
infrastructure while transit oriented development has evolved organically in
Bangkok, with businesses, retailers and residents being drawn to mass
transit stations. For this reason, these large plots have strong potential
for development or redevelopment.
Some of the most visible sites include the Crown Property Bureau’s Lumpini
and Ratchadapisek sites, the State Railway’s Makasan and Mae Nam port sites,
or the Port Authority’s Klong Toey riverside site.
As a result, various stakeholders in these plots have continued to evaluate
the process for bringing development sites to market.
Investment opportunities must be cautiously studied
Despite strong locational advantage, a fair amount of caution needs to be
exercised when undertaking development, says Jones Lang LaSalle. Master
planning should account for the amount of new supply that can be introduced
to the market and a particular catchment over a given period of time.
“Our studies in Bangkok and urban centers around the world show the amount
of various real estate uses, whether for hotel, office, retail or
residential purposes, that can be optimally absorbed. In a rapidly evolving
market like Bangkok, this is what should largely determine feasibility on
these sites”, said Mr. Tantisunthorn.
“Modern cities around the globe are looking to maximize the use of scarcer
prime land resources. Bangkok is no exception. The development of available
large prime plots across the city is sensible and will also contribute to
the development of the city itself. Relevant parties just have to make sure
that these plots are best used and any development on the sites is well
aligned with Bangkok’s real estate dynamics for sustainable success,” he
concluded.
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Urban Property updates construction
progress at Acqua Condo
Sompop Vanichsenee (center),
MD of The Urban Property
Managing Director Sompop Vanichsenee and Deputy Managing
Director Suriwat Rermkitkarn hosted a March 8 party at the Acqua Condo’s
sales office on Jomtien Soi 9 to thank sales agents and customers as
construction on the project proceeds in Jomtien Beach.
The sales office was decorated with colorful balloons with appetizers set up
in one corner, giving guests plenty of room to admire room designs.
Acqua, set on 3 rai of land, is designed in a “modern simplicity resort”
motif, offering 309 units in an eight-floor tower designed to echo the
current of the seas. Designed by award-winning architects, the project
offers studio, one- and two-bedroom layouts.
Sompop said one unique touch to all the units is that they all including
sliding doors to allow tenants to close or open space as desired. Open
spaces allow the sea breeze to flow through the condo, he said, while rooms
can be closed off for more privacy.
Sales on the project began a year ago and only the foundation and structural
pillars have been laid to date. However, Sompop pledged that construction
would be complete within two years, even as the company launches yet another
condo in Jomtien to be called the Gallery Beachfront.
The sales office on Jomtien Second Road, between Jomtien Soi 8 and 9, can be
contacted at 038-231-125-6.
(By Warunya Thongrod/Pattaya Mail)
An artist’s rendering shows
the views from the rooftop pool at Acqua Condominium.
Units at the project come in
studio, 1- and 2-bedroom layouts.
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Diana Group launches new condo
in the heart of Pattaya
An artist’s rendering shows
the Diana Group’s Na Lanna condo in central Pattaya.
Sopin Thappajug, Managing Director of the Diana Group,
recently announced the company’s intention to build a new 150-unit
condominium in the centre of Pattaya on Soi Paniad Chang (or Soi U-me).
Titled the Na Lanna condo, the development will be an 8-storey residence
under the Thong Thammajak Estate Co., Ltd. with 154 units in total on an
area of almost 2 rai.
The development will feature
154 units and a full range of resort facilities.
Prices start at just 1 million baht for a 25sqm unit and
sizes range up to 52sqm, with all the units featuring a full furniture
package. The building itself will include all the usual facilities expected
of a quality development and will be specially designed to be accommodating
for elderly and disabled residents.
Na Lanna has already achieved over 60% of pre-sales since it opened for
reservations. The development involves an investment of 200 million baht by
the Diana Group and construction will begin as soon as the project gets the
EIA green light. The company intends for the building work to be finished by
the end of 2014.
For more details call the sales office manager, Komsan Srisam, on
038-416660-1 or 081-2444771 or check the website: www.
Na-lanna–condo-pattaya.com.
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Asia leading race of world’s
Top 10 future skyscrapers
Skyscrapers around the world keep getting taller and
taller. Currently, the world’s 10 tallest future buildings have an average
height of 566 meters –77 meters more than the ten highest skyscrapers
completed in the last decade. With a height of 828 meters, only Burj Khalifa
will keep its Number 1 position in the current Top10 tallest list. Even the
tenth highest building currently under construction at 510 meters is higher
than the existing Number 2 with a height of “only” 508 meters.
An artist’s rendering shows
the Ping An International Finance Center in Shenzhen, China, which will top
out at 648-meters when completed in 2015.
Nine out of the ten future skyscrapers are located in Asia. Nevertheless,
Dubai is no longer booming with construction, instead China is now leading
the race with 6 of the 10 tallest skyscrapers currently being built followed
by South Korea with two buildings in the list.
The architects Kohn Pedersen Fox (KPF) designed the 648-meter tall Ping An
International Finance Center in Shenzhen with a staggering 116 floors. Once
completed in 2015, it will be the world’s second tallest building after Burj
Khalifa. Northern China will be boasting the Goldin Finance 117 in Tianjin,
CTF Tianjin Tower and the Dalian Greenland Center in the next four years.
Further along the coast, South Korea will soon feature
two 500m+ new skyscrapers in Seoul and Busan. In fifth place, the 556-meter
tall Lotte World Tower in Seoul by KPF will be 46 meters taller than the
Busan Lotte Town Tower by Skidmore, Owings & Merill (SOM) upon completion.
Overlooking the Busan harbour, Lotte Town Tower will be 510 meters tall with
110 floors.
In Saudi Arabia, the Makkah Clock Royal Tower is already topped out and
overlooks Islam’s holiest place, the Kaaba. Designed by Dar al-Handasah
Shair & Partners, the 601-meter tall skyscraper is both a hotel and a
shopping center.
The Makkah Clock Royal Tower
overlooks the Kaaba in Saudi Arabia. (Wikipedia commons)
The only 500m+ skyscraper currently under construction in the Western
hemisphere is One World Trade Center in Lower Manhattan, New York. The
541-meter tall structure designed by SOM is at 6th place in the world’s
ranking and will be completed this year.
The 556-meter tall Lotte World
Tower in Seoul.
SOM and KPF are head to head in the race of building the
tallest skyscrapers of the future – both companies have three projects that
are currently under construction. Two projects currently on hold are India
Tower in Mumbai, with a planned 720 meter height, by Foster + Partners, and
the Pentominium, by Aedas, with a proposed height of 516 meters in Dubai. It
is unknown whether either project will be completed.
Source: www.emporis.com
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Dubai adds tallest hotel to superlative list
Rupprecht Queitsch, General
Manager of the JW Marriott Marquis Hotel Dubai is joined by Ashok
Korgaonkar, leading architect of the building and Managing Director of
Archgroup Consultants, as they receive the official Guinness World Record
certificate for the world’s tallest hotel.
Superlative-hungry Dubai has recently added another
landmark to its portfolio: A 72-story hotel billed as the world’s tallest.
The JW Marriott’s Marquis Dubai formally opened earlier this year after
gaining the title of tallest hotel from Guinness World Records.
At 355 meters (1,099 feet), the hotel would tower over skylines in most
cities. But in Dubai, it is still dwarfed by its more than twice-as-high
near neighbor, the Burj Khalif, the world’s tallest skyscraper at 828 meters
(2,717 feet). Despite living in the shadow of the Burj Khalif however, the
JW Marriott Marquis Hotel Dubai is only 26 metres short of the Empire State
Building in New York.
Spread across two iconic 77-floor twin towers, each with 804 rooms and an
enticing array of 14 restaurants, bars and lounges, the hotel is set to be
one of the region’s most desirable destinations. It is also Dubai’s first
world-class convention and business destination hotel, filling a long
identified gap in the market where groups, meetings and conventions of up to
1,000 people can meet, sleep and dine under one roof, in one location.
“We are excited and delighted to be officially recognised as the world’s
tallest hotel. Dubai is a city of superlatives and the JW Marriott Marquis
is an outstanding addition to its iconic skyline. This Guinness World Record
will help us to put Dubai on the global business destination map,” commented
Rupprecht Queitsch, General Manager of the new 5 star hotel.
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Bangkok developer targets younger
buyers with Condo U
Condominium developer Grand U has enjoyed significant
growth over the past 12 months with over 3 billion baht in realized revenue
recorded in 2012.
Neramit Srangiam.
Neramit Srangiam, Managing Director, Grand Unity Development Co., Ltd., or
Grand U, says the company launched four new projects last year with a value
totaling 4.1 billion baht and achieved a realized revenue of 3.1 billion
baht, which was much higher than the established target.
Neramit says the company’s success can be attributed to good construction
quality that meets, and in many cases exceeds, accepted standards. “As many
as 80% of the customers agreed to accept their units upon first inspection
as they found them to be well executed beyond their expectation,” said the
Grand U boss.
Ownership of all units at each of the company’s projects has been
transferred in a very short time, reflecting customers’ confidence in the
thoroughness of the developer. The majority of Grand U customers purchase
their units for own use. An internal survey found actual occupancy rate to
be as high as 90% at all projects. As such, the firm is confident of growth
in a similar fashion in 2013.
“It was a fantastic year for us in 2012 with higher
realized revenue than we expected,” continued Neramit. “Our people have
dedicated so much to building the Grand U brand. Our company is in fact
built on quality. We are able to complete the construction of condominium
buildings in a shorter time while maintaining the usual standard. This is
why we can transfer the units and realize our revenue more quickly.”
Grand U is also very particular about its after-sales service.
“We try our best to preserve the surroundings of all our projects so they
will look as good as on the day customers move in. Our brand name is then
further strengthened when satisfied customers recommend us to their friends
and family members. Our thanks go out to our Home Friendly Team whose
members provide close support to the residents and assist with any repair
work necessary within the individual units and the communal areas.”
An artist’s impression shows
the Condo U @ Paholyothin Station by Grand Unity Development Co., Ltd.
Grand U expects to achieve a realized revenue of 3.8 billion baht in 2013,
primarily from the ownership transfer of units at three projects. Five new
developments will be launched this year with a combined total value of over
5 billion baht. Some of these new projects will be targeted at younger
buyers with lower prices and designs they should find appealing, says
Naramit. The company currently has seven projects under construction.
“Our business plan this year focuses on the segment of property we labeled
Condo U with a price tag of around 1.5 million baht for younger buyers and
first jobbers, to make it easier for them to have a place of their own,”
said the Grand U chief. “We launched two such projects in 2012: Condo U @
Huamark Station and Condo U Ratchayothin. Both were a huge success with all
units sold within two months. It has become evident also that our buyers are
younger than before with some only 22 or 25 years of age. We will try to
implement more marketing activities targeting these fresh graduates or first
jobbers.”
Grand U’s latest introduction is the Condo U @ Paholyothin Station. Located
in the quiet locale of Soi Paholyothin 23, this 4-rai property with only 407
units offers an urban lifestyle with 60% open space for recreation and easy
accessibility to main thoroughfares Paholyothin Road, Vibhawadee Road, and
Ratchadapisake Road. The project has been very well received on the market
with nearly 2,000 customers registering for the right to purchase.
Neramit gives a concluding remark: “I believe that Grand U will become
stronger as a brand through our business plan which focuses on responding to
actual market requirements and through the attention we pay to construction
quality. Our performance will undoubtedly benefit as a result.”
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Waterfront Suites & Residence
to overlook new Pattaya Marina
Tulip Group’s Waterfront
Suites and Residences at Bali Hai, South Pattaya.
Pattaya City Hall has released to local developers Tulip
Group news of the soon to be opened Pattaya Marina at Bali Hai Pier in South
Pattaya.
The new marina which has been under construction since last year will have
in total 350 marina berths and is due to be fully completed within the next
6 months.
The area has already seen a number of big changes, including a state of the
art car park, and it is expected that the entire area will be upgraded and
the boats that are currently in dry dock will be relocated.
The marina will be used by the city and privately for those who wish to rent
a marina berth for their own use, with discussion ongoing regarding
management of the facility.
The news is extremely good for Pattaya City, but also for Tulip Group, as
their luxurious high rise condominium and 5 Star hotel Waterfront Suites and
Residences will now benefit from amazing views of this marina and the
expected upgrade to the entire area at the front of the project.
Vice President for Tulip Group Jason Payne was delighted to hear the news
saying, “I am extremely happy that the city has now officially confirmed the
news of the marina. We have known about it since we purchased the site, but
to have it officially confirmed is great news for our project. As with any
marina in the world, only the very best properties are normally in these
locations, and we truly believe that Waterfront is in the world class
category. This news is excellent for Pattaya, and fantastic for our project
and our Waterfront residents.”
Waterfront Suites and Residences is a 50-storey condominium with a 120-room
5 star hotel and is due for completion by December 2014.
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