Developer Raimon Land has announced details its new UNIXX brand project in Pattaya.
The first UNIXX development will be launched in South Pattaya at Pratumnak Road on the company’s existing seven rai of freehold land. The new Bt 2.95 billion project will be scheduled for completion and transfers by the end of 2014.
Target customers will include Thais and expats working in or near Pattaya, Bangkok-resident weekend home buyers – and holiday home buyers staying in Pattaya for one to three months per year. The project will have up to 1,207 units with prices starting at Bt 40,000 per square meter, averaging around Bt 65,000 per square metre and with an average unit size of just under 40 square metres.
Luxury property developer Raimon Land has recently announced the launch of Unixx South Pattaya, the company’s fourth and largest project to date in Pattaya, following a string of successful developments in the beach resort including Northshore, Northpoint and Zire Wongamat.
Located along Pratumnak Road, one of Pattaya’s most coveted neighbourhoods, Unixx South Pattaya will be the launch pad for Raimon Land’s newest residential UNIXX brand.
UNIXX ACE: Accessible, Compact, Eclectic.
Just a 90-minute drive from downtown Bangkok, and 60 minutes from Suvarnabhumi International Airport, Unixx South Pattaya will be easily accessible from Thailand’s two main gateways. The new 1,207-unit project will occupy over 7-rai of freehold land, steps away from the King Rama IX Royal Park, Pattaya’s vast shopping and recreational venues and popular beaches.
Designed by HB Design, the same architectural firm responsible for super luxury projects such as Northpoint in Pattaya and The River in Bangkok, Unixx South Pattaya will feature Raimon Land’s distinctive modern design and quality finishing within a more compact, smarter envelope. Apartment layouts will include studios, 1-bedroom and 2-bedroom configurations, with sizes ranging from 22 to 62 square meters. All units will enjoy spectacular views over the Gulf of Thailand, Pattaya or Jomtien.
One of the project’s key design features will be the resort-like facilities and amenities offering owners and their families a relaxing escape from the hustle and bustle of city life. With plentiful and thoughtfully designed amenities spread over 4-rai of lush gardens and tropical vegetation, some of the offerings include multiple swimming pools, sports and recreational facilities, children’s playground, secluded outdoor barbecue areas and meditation pavilions for the exclusive usage of condominium owners, to name a few.
The 46-storey Unixx South Pattaya building.
“As for all our projects, UNIXX was conceived by a highly skilled team, including some of Thailand’s largest financial institutions, local and international architects, top-end contractors and engineers and of course Raimon Land’s trademark attention-to-detail savoir-faire,” said Hubert Viriot, Raimon Land’s Chief Executive Officer. “The objective was to extend the reach of our company’s core values to a broader group of customers, in particular the younger generation looking for quality, style and convenience but also healthy investment returns”.
Pattaya: a thriving condominium market
South Pattaya is currently experiencing a surge in demand for smaller-sized condominiums from local and foreign buyers. Recent company research shows that within the last 12 months, 14 new projects have been launched in central and South Pattaya, totaling 2,837 units at an average price of THB 68,000 per square metre. At the same time, market research shows that there is even greater demand for one bedroom sized units priced below THB 3 million.
With an ideal location in the heart of Pratumnak and prices starting at THB 40,000 per square meter, Unixx South Pattaya is perfectly positioned to capture this market.
Demand is driven by first home buyers living and working full-time in Pattaya as well as second home buyers. The latter includes weekend getaway home buyers from Bangkok and neighbouring countries as well as executives living in Bangkok but working part-time in the Chonburi region.
Mr. Viriot added: “Given our long experience in Pattaya over the past 7 years and the recent successes of Northpoint and Zire Wongamat, it was only natural to launch UNIXX first in Pattaya. The market is very strong and, with unit Unixx South Pattaya prices starting just under one million baht, never before has quality been so affordable.”
An ambitious expansion plan
As part of its 5-year expansion plan, Raimon Land intends to develop a number of new projects under the UNIXX brand along with its other brands – Zire beachfront condominium and Lofts boutique urban living. Potential locations may be both resort and urban; although the next likely step will be Bangkok, where Raimon Land operates several high end developments.
“We see vast expansion opportunities for the UNIXX brand in Thailand and have no doubt it will be a key contributor to our growth going forward” concluded Mr. Viriot.
Unixx South Pattaya will officially open for sales at the Hilton Pattaya Hotel on December 10-11 and at the Renaissance Bangkok Hotel on December 17-18.
Construction of the 2.95 billion baht project is scheduled to begin in the third quarter of 2012 with an expected completion towards the end of 2014. It has already received its EIA permit and is financed by Thanachart Bank PCL.
Interested parties can register for a buyer guide and a queue number to attend the launch events by calling Tel. 02 651 9600 and online on www.unixxcondo.com, or by stopping by at the temporary sales office located on Pratumnak Road.
Company registers strong sales performance in 2011
At the same time as unveiling its new Unixx development, Raimon Land has also announced its sales performance, backlog status and financial results for the third quarter of 2011.
Total secured sales backlog at the end of September 2011 reached Bt 16.2 billion. Just under two-thirds of the backlog related to sales at The River project, while around a quarter was generated by sales at the 185 Rajadamri project.
The total sales value of all the company’s current four projects is around Bt 32.3 billion, of which only Bt 3.7 billion has so far been recognized as sales in the company’s financial statements, and of which Bt 9.5 billion has so far been received in cash.
Transfers at The River project in Bangkok (100%-owned, Bt 15 billion project value) are scheduled for next year. Sales to the end of the third quarter of 2011 at The River represented approximately 75% of the project’s saleable area. The company also reported strong sales progress at the 185 Rajadamri project during the last quarter, with over 44% now contracted. The 185 Rajadamri project is due for completion and transfers by the end of 2013.
In Pattaya, excellent sales progress was reported at the new Zire Wongamat project, with over 50% sold by the end of September. The Northpoint project, now 100% constructed, reported 80% of saleable area contracted by the end of the third quarter.
An artist’s render shows the interior of a 2 bedroom unit.
Under Thai accounting rules, the company is limited to reporting sales only on transfers, even if a project is under construction with cash installments being received from customers on non-transferred units. Under these rules, Raimon Land was restricted during the third quarter to registering sales of Bt 245 million on transfers at Northpoint and The Heights. The revenue performance nevertheless represented a 36% increase versus the second quarter of the year.
Raimon Land’s gross profit margin increased to 29% during the quarter. At a consolidated EBITDA level, the company was approximately break-even, a significant improvement compared to the second quarter. Net profit was slightly negative for the third quarter, though much less so than in the first and second quarters of 2011.
