Having been a familiar player on the Pattaya real estate scene for over a decade, with numerous projects concentrated around the Pratamnak Hill area in the south of the city, the New Nordic Group is now taking a change of direction and plans to diversify its marketing approach by targeting more Thai buyers
At the end of last month, Group CEO Kurt Svendhiem and general manager Namfon Wongsuwan announced the formation of a subsidiary company, New Nordic Living Thailand, which will market the company’s existing and future projects exclusively to Thai investors.
Kurt Svendheim, CEO of New Nordic Group.
“In the past our projects have done very well with our European customers, particularly the Scandinavians,” said Mr. Svendhiem. “Thai buyers however amount to only 5-10% of our business, which is quite low, and we have therefore decided to present new investment options for our Thai customers.”
The existing 23 Nordic projects cover an area of approx 28 rai between Pattaya city and Jomtien and offer investors a diverse choice of accommodations, whether it be villas, hotels, serviced-apartments or condominiums, from studios up to spacious 3-bedroom units.
A 3-bedroom apartment in New Nordic Dream Paradise.
“We are focused on real-estate in the Khao Pratamnak area only as we want to be certain that we can thoroughly manage all the projects, starting from construction and making sure that we maintain the highest standards for all our developments. This would be difficult to accomplish if our projects were scattered more liberally around the city and nearby areas,” added Mr. Svendhiem.
As well as its plans to target Thai customers, New Nordic also announced what it believes to be a new standard for the real estate industry by presenting condominium buyers with a promise of a 10% guarantee on rental income for as long as 10 years after the project has been completed, this in addition to a 3% cash back to those who have paid in full before and during the project construction of any of New Nordic’s projects.
The pool area at New Nordic VIP-4 Condominium.
The company has so far invested a total of 12 billion baht in the Thai real estate industry over the past 13 years and expects to have up to 50 completed projects in its portfolio by 2015.
For more information, call 038-250-025 or visit: [email protected].
