|
Ground broken on
Venetian Signature Condo
Blue Sky Group recently held
a ground breaking party marking the start of construction on its unique
Venetian Signature Condo Resort in Jomtien. Turn to page 3 for a full
report.
The Blue Sky Group recently broke ground on its Venetian
Signature Condo Resort, celebrating the occasion and its strong sales with a
party for customers.
Project manager Surjeet Singh Chawla hosted the Feb. 22 event on Jomtien
Second Road where the first foundation pillars were planted. Numerous
customers attended to enjoy the food and the lovely Venice, Italy-styled
atmosphere and entertainment.
Patterned upon Italy’s “city of love,” the condominium project is spread
over 10 rai and will feature four eight-story buildings – Antonio, Bellini,
Casanova and Marco Polo – offering a total 990 units. Units come in three
sizes with a studio at 24-27 sq. meters, one-bedroom at 32 sq. meters and
two bedrooms at 64 sq. meters.
Chawla said 77 percent of the units already have been reserved with the
Thai-foreign split at 50 percent. He added that there is no intent to fill
all the property wall-to-wall.
“We will focus on a landscape plan instead. Our evergreen trees in the
private garden outdoor lounge will have a unique style that will give our
customers peace of mind and relaxation that they need,” he said.
The Venetian echoes the landmark features of the Italian city with an
endless lazy river-style stream that weaves through the property, a relaxing
Jacuzzi pavilion and gondolas that will take residents for pleasant rides
around the property. The bedrooms are unique and designed with curved
ceilings and other indoor amenities.
Both interior and exterior decorations will carry an Italian theme.
Amenities include garden, children’s room, and a floating walkway.
Construction is hoped to complete next year.
For more information, call 087-499-6551 or visit VentianPattaya. com.
(By Marcus Souksi)
The Venetian showroom is
illuminated against the evening sky during the official breaking ground
party, held Feb. 22.
(L to R) Mohan Chawla - Director
of the Blue Sky Development Co., Ltd., Songsak Visutharom - Owner of Inter
Akitech and Thawatchai Chawla- Director of the Blue Sky Development Co.,
Ltd. welcome guests to the Feb.22 party.
Units at the Venetian Resort
range from 24-27sqm studios, to 64sqm two bedroom configurations.
|
|
 |
Tulip Group brings more
luxury with Royal Tulip Suites
An artist’s rendering shows
the Royal Tulip Suites Pattaya on soi 5 Pratamnak Hill.
Local property developer Tulip Group recently launched
its latest 5 star hotel & residence in Pattaya, the Royal Tulip Suites –
units of which are now available in a special pre-launch phase.
Royal Tulip Suites Pattaya will be a luxury high rise hotel and condominium
located just 70m from the beach on the prestigious Phratamnak Hill in Soi 5,
near the Royal Residence. The developer says the project will offer amazing
facilities and stunning views of the beach and surrounding islands.
The 5 star Royal Tulip Hotel will occupy the first 12 floors of the property
and the residential component will be on the remaining 10 floors.
One of the key selling points for this new development will be the full
management services provided by Golden Tulip Hotels & Resorts, with
residents having use of all the hotel facilities.
This sought after location boasts some of the best beaches in the area, and
is away from the hustle and bustle of central Pattaya. The area is clean and
quiet and the property will boast stunning 360 views of the city as well as
amazing ocean views.
Apartments range from 1-2 bedrooms, up to roof top penthouses and will be
available to purchase Freehold.
“We are extremely excited about this property, and will begin construction
immediately as the project is fully EIA approved and building permits are in
place,” said Tulip Group Vice President Jason Payne. He continued: “This is
an established area for luxury hotels, condominiums and private luxury
housing, and this property will be one of the first branded residences in
this area.” For further information, visit www.rtsuitespattaya.com.
|
|
Veranda spreads its wings
to embrace Pattaya market
Veranda Residence promises to
offer a full spectrum of fully-furnished luxury living accommodation with
room sizes ranging from 32sqm - 266sqm.
Leading hotel designer and developer Veranda Group has
put its flag on a new location in the Na Jomtien Beach area of Pattaya with
a 3 billion baht investment in a hotel and condominium project. The
development is estimated to be completed in 2015-2016 and Veranda is
confident that the feedback will be as positive as ever.
Verawat Ongvasith, President of Veranda Resort and Spa, said that the
company had been very successful with its Veranda Resort and Spa and Veranda
Sky projects in Hua Hin, and subsequently branched out to Chiang Mai with
Veranda Chiang Mai the High Resort, and the luxury condominium project
Veranda High Residence.
The latest addition was Sofitel So in downtown Bangkok, a hotel that
combines the five natural elements – earth, water, wood, metal and fire – as
the inspiration for its decorations, making it a new landmark on the corner
of North Sathorn and Rama IV.
For this year’s investment plan the company is preparing to introduce a new
beachfront project – Veranda Beach Pattaya. This project will consist of two
parts, namely Veranda Residence Pattaya and Veranda Resort and Spa Pattaya.
Construction work on the condominium will begin in mid 2014 and is expected
to be completed in 2016, while the hotel will start construction early 2014
and will be finished around the end of 2015.
The reason for choosing Pattaya, according to Verawat, is the strategic
location of the city and its potential for a high growth rate. Pattaya has a
variety of attractions for both Thai and international tourists.
Transportation is also convenient, and with the upcoming high speed train,
it will be even more convenient and the demand for Pattaya will definitely
rise, says the Veranda chief.
An artist’s rendering shows the
Veranda Beach Pattaya project in Na Jomtien.
Verawat says he views the Na Jomtien area as an ideal
choice for the development because it has a private beach and the area is
not too crowded, but at the same time also not far from the city’s main
facilities and attractions. But he confided that the beachfront land here is
2-3 times more expensive than inland areas.
“We decided to launch the Veranda Residence Pattaya project in the high
season for the tourism sector. Our target group also includes previous
customers and Veranda fans who love our design concepts, including expats,
corporate clients, industrial estates, and Thai clients who buy condominiums
for their holiday or for leasing. Their purchasing power is still high,”
said Verawat.
Veranda Beach Pattaya will enjoy
a convenient location close to all the city’s amenities and attractions but
secluded enough to provide a relaxing retreat.
The highlights of Veranda Residence Pattaya include the
private, peaceful beach, convenient location near to the city center, and
the unique design synonymous with Veranda. The units will be fully furnished
and beautifully decorated with high quality materials, says Verawat.
The Office of Bangkok Architect Co., Ltd has been chosen to design this
project and the interior furnishings will be overseen by the renowned August
Design Company. Landscaping will be in the hands of the TROP Co., Ltd.
Since the condominium will be located right next to the resort, residents
will also be able to enjoy the resort’s facilities such as restaurants, room
service, bar, spa and swimming pools.
Veranda Residence Pattaya is located on a land plot of 4 rai, offering 360
units in total, ranging from one-bedroom to three-bedroom units, with
functional space from 32 to 199 square meters. Prices start at 3.3 million
baht. The project also offers four Pool Villas with functional space from
254 to 266 square meters, starting at 16 million baht.
Verawat says the company is continually looking to expand into new markets,
both locally and internationally, but that in future the focus will be on
hotel and resort development. Any future residential projects will depend
solely on the location. The company is eyeing other holiday destinations
such as Phuket, which has a high potential and growth rate similar to
Pattaya and also attracts a lot of international tourists.
Residents will have access to an
exclusive lobby, 40m swimming pool and fitness center.
Aliwassa Pathanadabutr, Managing Director of CBRE
Thailand, the project’s exclusive sales agent, has commented on the overall
picture of the real estate, condominium and resort market in Pattaya,
stating that the attraction of the city to both local and international
tourists remains as robust as ever, and the soon to be opening Cartoon
Network Amazone theme park will only add to this appeal. New developments
have spurred the growth in the real estate and hotel business in the city,
however, the high-end and luxury sector makes up only 10.3% of the industry
and it is believed to have much more potential for further growth.
The hotel services and
facilities include a roof-top bar, all day dining, kids club, conference
rooms and spa suites.
Each room will be fully furnished
by renowned interior designers.
|
|
ONYX to launch first
Amari hotel in Malaysia
A computer graphic shows the
completed Amari Johor Bahru.
Thai-based ONYX Hospitality Group has been appointed to
operate a 207-room property in the Malaysian town of Johor Bahru.
Amari Johor Bahru is owned by Exquisite Mode Sdn Bhd (a subsidiary of United
Malayan Land Bhd) and will be managed by ONYX under their upscale Amari
brand. The property will offer a selection of Amari’s signature features
including an Asian Food Gallery, Breeze Spa and Idea (meeting) Rooms.
The property is scheduled to open in 2015 and is part of the Suasana
Iskandar Malaysia development, which also offers serviced apartments for
sale and a retail podium. The development is within a 5-minute walk of the
upcoming JB Sentral Mass Rapid Transit System (MRT) which will link Johor
Bahru and Singapore.
ONYX President and Chief Executive Officer, Peter Henley, said: “We are very
excited to be in a position to announce our second hotel development in
Malaysia, so soon after the first. As a Thai company, having a presence in
one of our closest neighbouring countries has always been a priority for us.
We are excited to be joining forces with Exquisite Mode Sdn Bhd. and
bringing the first Amari to Malaysia with Amari Johor Bahru. Amari has
become a household name in Thailand and we look forward to building that
level of brand recognition in Malaysia.”
UMLand GCEO, Charlie Chia Lui Meng added: “We are
honoured to have ONYX Hospitality Group on board to manage and operate Amari
Johor Bahru. With its solid reputation and global marketing network, we
strongly believe that the collaboration with ONYX will be a win-win for all
parties. The development’s prime location in the heart of the city, combined
with the retail component, is hoped to rejuvenate and revitalise Johor
Bahru, preparing the city for economic growth, whilst also offering an
attractive and conducive living environment for locals and expatriates.”
ONYX announced their first property in Malaysia earlier last year for select
service brand OZO. OZO Penang is scheduled to welcome its first guests in
2016. There are currently six OZO properties under development in Malaysia,
Thailand and Sri Lanka.
|
|
Nova Group unveils North Beach condo
North Beach – Nova Group’s new,
luxury development in north Pattaya.
North Beach is the latest condominium development by
renowned developers the Nova Group and is situated in the beach area of Wong
Amat, one of the most highly sort after locations on the Pattaya property
market.
North Beach will feature a 25-storey, 209 room condominium at the end of Soi
22 Naklua Road and will be built on a 660 sq wah site, only 50 meters from
the nearest beach. All units will have views of either Pattaya Bay, Koh Larn
Island or Wong Amat Bay and will come equipped with top quality bathrooms
and kitchens, fully finished floors and ceilings and air conditioners fitted
as standard.
Other amenities will include shops, high speed elevators, 24-hour security,
3 levels of parking and a luxurious 5 star lobby decadently furnished to the
highest level.
Unit sizes range from 34sqm one bedrooms styles up to 244sqm penthouses. The
on-site showroom will be completed at the end of March with the project
website to be completed around the same time. Call 081 949 6151 for further
information.
|
|
Demand for Bangkok prime
CBD land remains robust
According to a recent report by property consultancy firm
CBRE (Thailand) the demand for prime central business district (CBD) land in
Bangkok for investment remains strong despite the ongoing political turmoil.
CBRE says it does not expect the political problems to impact Bangkok CBD
land prices adversely because there is a limited supply of freehold prime
land in the Thai capital. There are few willing sellers and the majority of
land is held by cash-rich owners, who inherited their family land.
Land holding expenses are very low as most land was not acquired through
debt financing. There is virtually no land holding tax and no inheritance
tax. This means that the majority of land owners have very little pressure
to sell.
Transactions normally occur when the potential vendors are sufficiently
enticed with a record breaking offer price. Over recent years, land prices
have been driven upwards by developers buying sites to build condominiums
for sale. This is because condominium developers have been able to outbid
other types of property developer due to the high condominium development
margins and the quick project turnover.
Historically, land investment in Bangkok’s CBD has provided one of the
highest investment returns with about 15% year-on-year increases over recent
years. This has enticed wealthy families to buy land and construct income
producing developments despite low initial income yields because they are
attracted by the capital gain driven by land values.
According to Ms. Kulwadee Sawangsri, Head of Investment and Land Services at
CBRE (Thailand), the price for a prime site on the main Sukhumvit Road
increased by approximately 480% since 2002 to THB 1.5 million per sq. wah,
which is the highest percentage increase out of all of Bangkok’s prime
areas. This is followed by the Silom/Sathorn area with an increase of
approximately 400% to THB 1.4 million per sq. wah and the Ploenchit/Lumpini
area at approximately 320% to THB 1.5 million per sq. wah.
There have been significant land price increases in some suburban areas
where construction progress of new mass transit lines has triggered an
increase in demand for condominium development sites in areas such as
Rathanathibet along the route of the Purple line. Land prices in the
Rathanathibet area have increased by 30–50% per year since the start of
construction on the Purple line. CBRE expects that expansion of the mass
transit system will have similar effects on land prices in other suburban
areas.
CBRE believes that the centre of Bangkok will continue to be the most sought
after location for the best quality offices, hotels, shopping centres and
residences. This means that there will be continued demand in the future for
the limited number of prime development sites in Bangkok’s CBD.
“Prime CBD sites in Bangkok remain in high demand. Currently, vendors are
asking future prices for their land as there is no pressure to sell. I
believe that the land market will remain active this year if vendors are
willing to deal at the current market prices,” Ms Kulwadee said.
|
|
Raimon Land appoints new Property
Management VP, announces record profits
Leading property developer Raimon Land has announced the appointment of
Neerja Sachdev as Vice President in charge of Property Management.
Neerja Sachdev.
With over 20 years of experience in Thailand’s real estate sector, Neerja
will bring her high-level expertise to her new role.
Neerja said: “What prompted me to return to Raimon Land is its firm
commitment to excellence. I look forward to working with the new management
team and to sharing my know-how, so we can maintain the highest quality for
all our customers.”
This will be Neerja’s second stint with Raimon Land, after having worked as
Customer Relations Management Director from 2007 to 2010. Most recently, she
served as Director and Head of Property Management for Savills, from 2011 to
2013, where she led one of the largest nationwide management portfolios
specializing in luxury residential developments. Prior to that, Neerja held
several positions with CB Richard Ellis.
Meanwhile the company recently announced it had posted a record financial
year for FY2013, having achieved a net profit of Baht 746 million, a jump of
50% Y-o-Y. The company’s borrowing costs have also been reduced across the
board and the current interest bearing debt ratio has decreased
significantly.
The pilings are now completed at the Unixx Pattaya
project and the main building work is well in progress. (Photo/Raimon Land)
Raimon Land’s CEO Johnson Tan said, “The team has worked very hard
throughout the year ensuring key fundamentals are in place. By implementing
strict financial disciplines, we have paid off a significant amount of our
debt for The River project and the retained losses at company level are
significantly lower. As the first transfers of 185 Rajadamri commence this
quarter, our gearing will continue to drop throughout this year. With a
stronger balance sheet, and a focused and disciplined management team, we
are much better positioned for future expansion while we work towards the
next iconic project.”
Zire Wongamat is already 90% sold out.
The award winning development, 185 Rajadamri will commence transfers this
1Q2014. Bestowed as the ‘Best Luxury Condo’ in Bangkok, it has already
achieved 85% of total units sold, and the project is expected to be the most
significant source of revenue for Raimon Land in 2014.
Zire Wongamat, the luxurious beachfront condominium development next to
Pattaya’s Wongamat beach, is on track to complete construction and begin
transfers in 4Q2014. The project has sold 90% of its total units.
Construction of Unixx South Pattaya is also well under way, with structural
work now completed beyond the 5th floor. Launched in mid-2013, The Lofts
Ekkamai has proven to be a success having achieved over 60% of its total
units sold. The project has already commenced construction with piling and
foundation works well underway. Meanwhile, The River – Raimon Land’s largest
project ever – has less than 10% of its total units left for sale after
completion in 2012.
For more information on Raimon Land’s projects, visit www. raimonland.com.
|
|
Booming number of Asian super-rich flock
to invest in Monaco real estate
Monaco is being targeted by super-rich Asians
seeking a trophy home overseas. (Photo/Wikipedia commons)
Asian ultra-high net worth individuals are showing a keen
interest in investing in Monaco property, as the Principality remains one of
the safest places for wealth storage. Today Asia has a climbing number of
uber-rich individuals, whose assets are expected to significantly increase
in value over the next couple of years.
As the 2013 Asia-Pacific Wealth Report shows, high net worth individuals
(HNWI) with over $1 million in investable assets will see their combined
wealth rise to $15.9 trillion by 2015. With so much money to invest, the
attention of the wealthy is directed abroad.
According to the 2013 China Private Wealth Report, 56% of respondents from a
HNWI group have either started the process of emigration from China or are
consider doing that in the near future. The reasons for that are vast: from
ecological pollution to a stressful business environment in China. As a
result, a large proportion of their wealth gets directed towards top
locations for luxury residential investment, such as London, Switzerland or
Monaco.
“These are the consumers for whom money is no object and they spend on every
kind of luxury goods and service,” says Michael Silverstein of Boston
Consulting Group.
Although rich Asian individuals spend their cash on a variety of luxury
products, such as yachts or private jets, according to recent figures nearly
28% of their wealth is invested in real estate. Europeans, for example, have
8% of their wealth held in real estate.
This opens incredible opportunities for luxury real estate markets, such as
the one in Monaco. The Principality, with its clean environment, pleasant
climate, jet set society and sumptuous Monte-Carlo property for sale can
successfully use this window of opportunity which Asian investors now
present. Asian HNWI are no longer looking for traditional luxury; their
tastes have gone up a notch.
“You’ve got a Chinese demographic with a lot of money now. That’s not
entirely new. They’ve had money for a while. But their tastes are changing
fast,” says Christine Lu, founder of Affinity China, a lifestyle platform
for affluent Chinese travelers.
|
|
Chic Republic opens doors with grand ceremony
(L to R) Boontak Wangchareon,
CEO of TMB; Ittipol Khunplume, Mayor of Pattaya; Kijja Pattamattayasonthi,
CEO of the Chic Republic Co.; Sontaya Khunplume, Ministry of Culture
Thailand; Rath Panitpan, CEO of the Land and House Bank; Kamolthip Paksuwan,
Secretary of the Chic Republic Co.; and Poramet Ngampichet, former MP of the
Pak Phalangchon Party attend the official opening ceremony held Feb. 27.
With an investment of over 400 million baht, Pattaya’s
new Chic Republic home furniture store officially opened its doors to the
public on Feb. 27.
Pattaya City mayor Ittipol Khunplume was the invited guest of honour for the
ribbon cutting ceremony and he was joined at the event by a host of local
business managers, city councilors and residents of Pattaya along with a
large gathering of media.
Aside from the party, with food and live entertainment for those in
attendance, Kijja Pattamattayasonthi, the CEO of the Chic Rebublic also took
the opportunity to think about those less privileged in the Pattaya area and
pledged 100,000 baht each to the Garunyawet Home for the Disabled and the
Father Ray Foundation.
The Pattaya store is Chic Republic’s fourth outlet in Thailand and marks the
brand’s first appearance on the Eastern Seaboard. The home fashion outlet
located on Sukhumvit Road provides a spacious and stylish shopping
experience and features the most modern home furnishing products along with
Thai traditional designs.
Invited dignitaries cut the
ribbon to open Pattaya’s first Chic Republic store.
“There are many furniture stores out there, but we are
quite different,” said Mr. Pattamattayasonthi. “We bring Pattaya the new
‘Modtrad’ concept, which focuses on a mixture of both modern and traditional
home style furnishings. All items and products in our stores are unique and
well considered to respond to the needs of our customers who have recently
purchased a new home. We provide all household needs including kitchen
appliances and all indoor amenities.”
As a special bonus to Pattaya shoppers and to celebrate its new opening,
Chic Republic is currently offering 20%-50% discount on many of its home
furnishing products. A special interior 3D program design services is also
available free of charge to spark home décor ideas for customers.
The Chic Republic outlet in Pattaya occupies 10,000sqm and comes with plenty
of parking space. The store is located just off Sukumvit Rd. in south
Pattaya (opposite Big C South Pattaya). For more information, call
02-514-7111/12, 081-628-8686 or visit the webpage at www.chicrepublicthai
.com.
(By Veechan Souksi)
Chic Republic carries everything
you could need to stylishly furnish your home.
|
|
|
