From left: Kobi Elbaz (CEO
Tulip Group), Eli Papouchado (Chairman Park Plaza Hotels Group), and Boris
Ivesha (CEO Park Plaza Hotels Group) address the assembled media and real
estate representatives at a meeting held at the Centara Grand Mirage Beach
Resort Pattaya on Tuesday, July 26 to announce the new Park Plaza Waterfront
project.
The former Waterfront project in the heart of Pattaya is
to have a new lease of life.
The project has now been officially taken over by two
leading names in the hotel and property industries: Park Plaza Hotels and
the Tulip Group.
The first step the new owners will undertake is to clear
any outstanding debt from the previous Waterfront project.
The newly named Park Plaza Waterfront will be a 40 Floor
building rising to a height of 150 meters and will be located at Bali Hai
Pier in downtown Pattaya. The project will feature a 150 room hotel and 300
residential condominium units.
The building will offer stunning facilities and amazing
views of the ocean and surrounding islands. Overall, this iconic development
will have a total area of 38,685sqm with a saleable area of 18,521sqm.
Park Plaza will provide full management upon completion
and opening of the project.
At a press conference held at the Centara Grand Mirage
Beach Resort Pattaya on Tuesday, July 26, the Chairman of Park Plaza Hotels,
Eli Papouchado said that this will be a new landmark development for Pattaya
and an important part of the group’s portfolio.
“We are very excited at add Pattaya to our list of great
Park Plaza destinations,” he said. “This project demonstrates our commitment
to one of the most dynamic resort cities in the Asian region.”
Eli Papouchado has been involved in the construction,
design development, financing, acquisition and management of leading hotels
in Israel and Europe including Park Plaza Westminster Bridge London, Park
Plaza Riverbank London (including Plaza on the River), Park Plaza Victoria
London, Park Plaza Leeds, Park Plaza Nottingham, Park Plaza Amsterdam, the
mile-stone Taba Hotel and many more.
The Group currently has 25 Park Plaza hotels and
art’otels in 56 countries.
Joining forces with the Park Plaza Group is the
Pattaya-based Tulip Group. It’s founder Kobi Elbaz is well-known in both
Thailand and internationally and is currently developing the Centara Avenue
Residence and Suites, Centara Grand Pattaya and the Tulip Boutique
Collection.
He is also a partner in numerous other projects including
– The Cliff – Amari Residence Pattaya – Novana Residence – Ocean View –
Centara Bangkok and Holiday Inn expresses Pattaya.
“Our partnership with Park Plaza will renew investor
confidence in this project,” said Kobi. “Pattaya will gain another leading
hotel name and further confirmation that this destination is evolving
upwards. Our combined commitment to clear the Waterfront’s old debts is the
first step in this new partnership,” he said, referring to investors who had
seen their money tied up in the old stalled project for the past three
years.
Kobi indicated that all those who bought into the
original Waterfront project would be remunerated very shortly but advised
that many had already decided to stay on with the new Park Plaza Waterfront
development.
The new Park Plaza Waterfront project will launch fully
in approx. six weeks time.
