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Real Estate Monthly - Edition 014 November 2012

Sansiri announces first move in Pattaya with ‘Baan Plai Haad’

Sanisiri’s first development in Pattaya - Baan Plai Haad.

Renowned Bangkok based property developer Sansiri PLC has expanded its presence in the provincial markets with the launch of a new residential project in Pattaya, having previously enjoyed great success in Hua Hin, Phuket, Khao Yai and Chiang Mai.

Apichart Chutrakul.
For the first time, the company has tapped into one of the major tourist destinations in the eastern region by unveiling Baan Plai Haad Wong Amat Condominium, a 6,400 sq. m. condo situated by the secluded Wong Amat beach. The project is worth a total of 2.2 billion baht and the Sansiri sales gallery is already available for a visit on Pattaya-Naklua Road. Prices start from 3.59 million baht and Sansiri believes the high growth potential in Pattaya will see a strong uptake in demand.
Apichart Chutrakul, Chief Executive Officer of Sansiri Public Company Limited said 2012 had seen the developer achieve considerable success with its “Here There Everywhere” campaign. Over the past year, the company saw tremendous success with 14 property projects, worth a total of 9.7 billion baht, each developed to meet customers’ demands in Hua Hin, Phuket, Khao Yai, and Chiang Mai. The Baan Plaai Haad Wong Amat Condominium project is the latest to be added to the impressive line-up and was officially launched last month.

An artist’s impression shows the completed project.

Apichart commented: “Nowadays, the wide variety of tourists in Pattaya includes high-end visitors from other parts of Thailand, Singapore, Europe, and Scandinavia, and mid-level travelers who give precedence to condo prices, like those from Russia. The company is confident that Baan Plai Haad Wong Amat, which is Sansiri’s first property in Pattaya, will be as well-responded to by Thai and foreign customers as our previous projects have been in Hua Hin, Khao Yai and other locations.”
The design concept by a team of professional architects from The Steven Leach Group is inspired by the pattern of the area available in the project, with access to a private beach and the profile of the building is aligned to provide a sea view from most of the units. An outside wooden terrace can also be used as a sightseeing spot for all prospective residents to fully appreciate the natural green areas of the project.

The show suite is now open to the public at Wongamat beach.

The fitness center facility will have transparent window to provide a truly magnificent view for those working out and to kick the level of recreation up a notch, a rooftop party deck will also be available for those who like to party it up with a full 360-degree outlook. The infinity Sky Pool will also enhance the natural feel of the development.
“Baan Plai Haad Wong Amat will fulfill customers’ ultimate holiday or residential requirements. The upbeat lifestyle of Pattaya city is just minutes away and yet this prime location allows residents of the project to bask in the stunning panoramic seascapes and relax in an oasis of tranquility,” said Uthai Uthaisangsuk, the Senior Executive Vice President - Business Development and Project Development Division (High Rise), Sansiri PLC.
Baan Plai Haad Wong Amat comprises one 31-storey building with 353 units available in different types ranging from one to three bedrooms, and one seven-storey building featuring 40-154 sq. m. rooms.
Residents will enjoy a wide range of amenities at the condo, including exclusive services from Plus Concierge and privileges provided under Sansiri umbrella.

Matrix Developments collects OPP Award

Miki Haim (left), Managing Director of Matrix Developments, collects the OPP award at a gala ceremony in London.

More than three hundred representatives from companies operating around the globe gathered at the ‘The Brewery’ in London on Wednesday, 10th October for a gala evening and awards presentation. The event was held under the auspices of OPP (Overseas Property Professionals) and was to celebrate and reward the best in the overseas property world over the past year.
The OPP awards are judged by industry leaders from around the world and celebrate the best developers, estate agents and associated companies working in the global cross border residential property industry. The fifty strong panel of judges from around the world are the most qualified people from various industries.
The panel of independent judges this year awarded Pattaya based real-estate company Matrix Developments the bronze award for the “Best Developer – Asia”.
A delighted Miki Haim, Managing Director of Matrix Developments commented later: “This award is the result of our strategic development and marketing plans combined with our proven track records which are the mantra of our business practices. Customers and investors are assured the peace of mind when investing with Matrix Development. Our strong engineering and purchasing strategy allow us to efficiently develop our projects to higher standards whilst maintaining the affordable factor of investments and high returns for our customers and investors.”

Diverse winners list at 2012 Thailand Property Awards

A relative ‘who’s who’ of the kingdom’s real-estate industry gathered at the Dusit Thani in Bangkok last month for the 2012 Thailand Property Awards.

If there could be one watchword for the 7th Thailand Property Awards it would possibly be diversity, with most of those on the nomination shortlist able to leave happy after having picked up at least one award in recognition from their industry peers.

Nearly 500 guests from all around Thailand were in attendance to congratulate the winners and highly commended companies in 36 award categories at the awards ceremony held at the Dusit Thani Hotel, Bangkok on the evening of Saturday, Oct. 13.

Winners pose on stage with their awards at the Dusit Thani Hotel, Bangkok.

Included in the winners categories were awards for best developer, development, real estate service, architecture and interior design, plus a publisher’s choice award, the ‘Property Report Real Estate Personality of the Year’ award that went to Tipaporn Chearavanont of Magnolia Quality Development Corporation.

Property management company CB Richard Ellis won in 2 categories and were highly commended in 4 others.

The VIP guest of the event was Korn Chatikavanij, deputy leader of the Democrat Party, who in his witty but thought-provoking keynote speech assured the stability and global economic viability supporting the real estate industry. “As developers, you should be comfortable in the knowledge that the two main political parties are aligned in their policies regarding the property sector. The property sector is important for the economy as well as for the dreams of the Thai public to own properties,” he said.

David Simister (CBRE Thailand), Kobi Elbaz (Tulip Group), Rony Fineman (Nova Group) and Suphin Mechuchep (Jones Lang Lasalle Thailand) pose with their awards.

With a change to the format from previous years and with more awards up for grabs, the Eastern Seaboard saw deserved recognition this time with a best development award going to The Cliff condominium in south Pattaya, which was collected jointly by the co-developers and project partners, Rony Fineman of the Nova Group and Kobi Elbaz of the Tulip Group.

After picking up the award Kobi outlined the hopes for his company’s latest projects in Pattaya. “I’m now looking forward to the awards in 2013,” said the Tulip CEO. “None of our (Tulip’s) amazing projects qualified for this year’s awards, but next year I hope the voters recognize how special our projects are, and you never know I may be standing on stage with my team again holding some more of these prestigious awards.”

Mark Bowling (left) receives the Best Residential Agent (Eastern Seaboard) award on behalf of Colliers International.

Also garnering success for the region at this year’s ceremony was the Hilton Pattaya which topped the judges’ list in the ‘Best Hotel Architectural Design’ category. Peta Ruiter, director of business development, Hilton Pattaya said afterwards: “This highly coveted design award bears testament that Hilton Pattaya will stand out as a distinctive, best in design & architecture and luxurious hotel that will excel in the keenly competitive hospitality industry in Thailand and Asia Pacific region.”

Tipaporn Chearavanont, CEO of Magnolia Quality Development Corporation (left) was named as this year’s ‘Real Estate Personality of the Year.’

Other local winners at this year’s awards ceremony included Siam Royal View Marina (Best Villa Development - Eastern Seaboard), South Beach by Beach Properties (Best Boutique Condo Development - Eastern Seaboard), and Colliers International, who picked up the Best Residential Agent (Eastern Seaboard) award along with the same award for Hua Hin region and the overall Best Property Consultancy award.

Tony Malhotra, Deputy Managing Director of Pattaya Mail Media (left) greets VIP guest speaker Korn Chatikavanij, deputy leader of the Democrat Party.

Commenting on his company’s success this year, Simon Landy, the Colliers’ Executive Chairman, remarked, “Each year we have picked up more awards, but this year truly marks our coming of age. We are very proud of our continued success at the Thailand Property Awards. To win these awards is an outstanding achievement for us, proving that we have emerged as a major player in the Thai property market with a solid reputation for our professional services.”

Piaras Moriarty, Vice President Client Management, Sales and Marketing at Raimon Land is all smiles after picking up awards for The River condominium in Bangkok.

Luxury developer Raimon Land once again featured in the winners’ circle and the company was deservedly awarded the Best Luxury Condo Development (Bangkok) title and overall Best Condo Development Thailand for their long awaited flagship project The River. In a touch of irony not lost on the man himself, ex-Raimon Land chief Nigel Cornick, CEO of Awards sponsors Kingdom Property, was next up on stage to present an award to the developers of The Cliff. No doubt Nigel will have designs on featuring next year as a contender with his own company’s Southpoint Pattaya project.

Jones Lang LaSalle Hotels received awards for Thailand’s Best Best Commercial Agent & Best Agency Deal.

The biggest winner on the night was undoubtedly Kalara Developments, who picked up no less than 9 awards for their prestigious projects throughout the kingdom.

Wrapping up the show was Terry Blackburn, CEO of Ensign Media, the organisers of the awards who said, “Over 1,400 nominations where received (this year) and the evening was a huge success and it was good to see so many major players in Thai real estate in attendance. I was particularly pleased to see two of the most successful woman in Thai property - Wallapa Traisorat and Tipaporn Chearavanont - receive awards in what is traditionally a male dominated industry.”

Kalara Developments won 9 awards on the evening.

Commenting on the overall winners in the ‘Best Villa Development Thailand’ and ‘Best Condo Development Thailand’ categories respectively, Mr. Blackburn added: “The Banyan Tree’s win is a very positive sign of how big brands can get it right in the Phuket market and the success of The River shows that very ambitious projects that take a long time to complete are well worth persevering with. The River is clearly up there with the best in Asia and thoroughly deserves its two big wins here tonight.”
For more information on the Thailand Property Awards, go to www.Thailand

Nigel Cornick (right), CEO of Kingdom Property, presents the ‘Best Condo Eastern Seaboard’ award to Rony Fineman (center) and Kobi Elbaz (left).

Tony Malhotra (left) presents the ‘Best Hotel Architectural Design’ award to Peta Ruiter of the Hilton Pattaya.

Winners of the Thailand Property Awards 2012

Best Developer
Charn Issara Development PLC
Best Boutique Developer
Kalara Developments
Best Commercial Development Thailand
Asiatique The Riverfront
Best Housing Development (Bangkok)
Perfect Masterpiece Rattanatibett
Best Luxury Condo Development (Bangkok)
The River
Best Affordable Condo Development (Bangkok)
Hyde Sukhumvit
Best Affordable Condo Development (Resort)
CODE Samui
Best Boutique Condo Development (Eastern Seaboard)
South Beach, Beach Properties Thailand Co., Ltd.
Best Boutique Condo Development (Phuket)
Bluepoint Condos
Best Villa Development (Phuket)
Banyan Tree Residences
Best Villa Development (Eastern Seaboard)
Siam Royal View Marina
Best Residential Development (Samui)
CODE Samui
Best Residential Development (Hua Hin)
The Orchid Palm Residence
Best Residential Development (Chiang Mai)
Jirung Residences
Best Condo Development (Phuket)
The Nchantra @ Sirey Beach
Best Condo Development (Eastern Seaboard)
The Cliff Residence Pattaya
Best Shared Ownership Development
Anantara Vacation Club Phuket Mai Khao
Best Residential Agent (Bangkok)
CB Richard Ellis (Thailand) Co., Ltd.
Best Residential Agent (Phuket)
CB Richard Ellis (Thailand) Co., Ltd.
Best Residential Agent (Eastern Seaboard)
C.I.T. Property Consultants Co., Ltd.
(Colliers International Thailand)
Best Residential Agent (Hua Hin)
C.I.T. Property Consultants Co., Ltd.
(Colliers International Thailand)
Best Residential Agent (Samui)
Kalara Real Estate
Best Independent Agent
Kalara Real Estate
Best Commercial Agent
Jones Lang LaSalle Hotels
Best Property Management Company
Jones Lang LaSalle
Best Property Consultancy
C.I.T. Property Consultants Co., Ltd.
(Colliers International Thailand)
Best Overseas Property Agent
Savills (Thailand) Ltd.
Best Agency Deal
Jones Lang LaSalle Hotels for the sale of Mövenpick Resort and Spa Karon Beach Phuket
Best Residential Architectural Design
Brennan Beer Gorman Architects (BBG), New York for The Residences at The St.Regis Bangkok
Best Commercial Architectural Design
Contour Company Limited for Rain Hill
Best Landscape Architectural Design
Bunnag Architects Int’l Consultants Co., Ltd. for Residences at Four Seasons Resort, Chiangmai
Best Hotel Architectural Design
Department of Architecture Co., Ltd. for Hilton Pattaya
Best Residential Interior Design
Kalara Developments for CODE
Best Villa Development Thailand
Banyan Tree Residences Phuket
Best Condo Development Thailand
The River
Property Report Real Estate Personality of the Year
Tipaporn Chearavanont, chief executive officer, Magnolia Quality Development Corporation

Portofino Condominium offers new ‘marina lifestyle’ designs

Hoping to jumpstart sales at its Portofino Condominium in Na Jomtien, Ocean Property Co. is offering new unit designs and services to offer boaters a “marina lifestyle.”

The 37-floor Ocean Portofino Condominium.
Acting Managing Director Supatra Angkhawinijwong hosted the Sept. 28 relaunch where sales executives showed off new model condos and detailed services, which include privileges at the nearby Ocean Marina.
“This event was organized to boost Ocean Portofino by advertising tourism activities for boaters, such as admiring nature on various islands including the monkeys on Koh Ped, and enjoying the sunsets on Jomtien Beach,” Supatra said. “These are the attractions for the new generation lifestyles that can be found at Ocean Portofino Jomtien Pattaya.”
Although completed in 2008, the 268-unit Ocean Portofino still remains 30 percent unsold. Developers are hoping by offering new room layouts and extra services, they can finally sell out their property.

Luxurious accommodation in one of the Type A units.

Acting Sales Director Benyapha Pherpul said the new “Marina Lifestyle” condos offer nautical-themed flourishes, pastel-colored wallpaper, brightly colored cushions and either hanging ornamental or hardwood lamps with unique shapes. All condos enjoy panoramic views.
In addition, buyers gain access to facilities at Ocean Marina and the adjacent San Marino Condominium, including meeting rooms, library, sports complex and restaurants.
The 37-story building spread over 2.5 rai offers units beginning at around 7.5 million baht. For more information, call 02-661-6800 ext. 420 or see its website at
(By Phasakorn Channgam)

Ample parking space right on your doorstep.

Ocean Marina offers a host of activities to whet any sailor’s appetite.

Navy House Group launches Winner Condominium

(Left-right) Rear-Admiral Thanakan Khraokhruan, deputy commander of Sattahip Navy base; Amata Khraokhruan, vice MD of Navy House Co. ltd; Punyachrin Khrakhruan, MD of Navy House; Suphatporn Nampiti, vice MD of Navy House; and Ponchakorn Chuangern, deputy mayor of Sattahip Municipality pose for a group photo at the official announcement of the Winner Condominium.

Sattahip’s Navy House Group plans to launch its first condominium project in Pattaya, offering luxury units near Pattaya Park.
Deputy Managing Director Amata Khraokhruan introduced the Winner Condominium development Sept. 29 to reporters, real estate agents and former Navy House customers from Sattahip.
Winner Condominium is offering 107 units between 35.5 and 62.5 sq. meters starting at 1.5 million baht. The building will be located three minutes from the beach and near other tourist attractions.
Amata said Navy House has a good reputation among the Sattahip residents that have purchased its houses in the past. This is the company’s first condo development, he said.
“With more than 20 years of experiences in villages in Sattahip, the company has gained confidence from Sattahip customers and can guarantee the quality of the condominium,” he said.
For more information, call 038-251-335 or visit the sales office on Pratamnak Soi 6.
(By Warunya Thongrod)

Hua Hin still an attractive second home option for Thais

The seaside town of Hua Hin remains an active condominium market for Thais who purchase second homes according to researchers at property management company Knight Frank.
Activities in Hua Hin and Cha-am are as bustling as ever, with several new condominium projects launched by leading development firms. Most buyers and guests come from Bangkok with only 25% come from overseas, including expatriates working in Bangkok, says Surasak Limpa-arayakul, the Director of the Research and Valuation Department of Knight Frank Chartered (Thailand) Co., Ltd.
The total condominium supply in Hua Hin as of the first half of 2012 was 17,349 units. This figure accounts for the units that have accumulated from 2003 to H1 2012. During the first half of 2011, there were 3,956 new condominium units added to the Hua Hin and Cha-am supply.
“Over 75% of the Hua Hin condominium buyers are Thai, especially those from affluent Bangkok-based families. There are also some expatriates and foreign retirees who bought beach condominiums. The reliability and reputation of the developer tends to be the most important factor for expatriates, while an affordable price seems to be vital for foreign retirees,” said Surasak.
He further explained that foreign buyers, unlike those in other tourist destinations such as Phuket or Samui, are mostly retirees or those with Thai spouses. They have a limited budget and prefer to buy a residence for their own use as a second home during their country’s winter season.
“As foreign ownership regulations in Thailand have become more stringent, foreigners who are looking for a residence are paying more attention to condominium units that they can buy on a freehold basis (up to 49% of the total ownership). Thus, they are likely to search for an inland condominium unit that has a lower price than a beachfront unit,” says Surasak.
The historical unit take-up during the peak year for Hua Hin condominiums has been about 1,000 to 1,200 units per annum, however, during the first half of this year, there were about 1,655 units sold. Unfortunately, with the influx of new supply, the growth in demand cannot keep up, causing the take-up rate to drop from 45% in 2011 to 44% during the first half of 2012.
Previously, condominiums in Hua Hin could be sold easily, especially those in beachfront projects and/or projects that have sea views from the units. Recently, the inland condominium in Hua Hin has garnered interest, with compact sizes and affordable unit prices.
The cumulative average growth rate (CAGR) of beachfront condominium units in south Hua Hin was at 4.2% between 2010 to H1 2012, with an average selling price of THB 138,010 per square meter. For those with limited budgets, they can select sea view condominiums in Cha-am with an average selling price of THB 92,404 per square meter; however, the price will be cheaper for units located farther from the beach.
(Source Knight Frank Thailand)

Is your TV more important than your home?

A few days ago I went to a condo owners meeting in Phuket. I don’t know about you, but I’m not a lover of meetings. Often people use them as an excuse to avoid making decisions - except deciding to have another meeting, of course. But I promised a client I would go on his behalf. So off I went.
The meeting had been called to discuss much needed improvements to the common areas. And there was going to be a vote on increasing common area maintenance fees (CAM) from 45 Baht to 65 Baht per m2 - a 45 per cent increase. I thought this would be fiercely debated – but I couldn’t have been more wrong!
The meeting was scheduled for 10 a.m. By that time only one other person had showed up. I asked the person in charge who else was coming. She said the developers were representing several owners and they’d be there soon. Another person turned up at 10.30 and helped himself to coffee and biscuits.
By now, I was starting to get fed up. There were big financial decisions to make which would directly affect the investments of 52 condominium owners. Were they really not bothered?
Finally, at 10.45, another 6 people sauntered in and the meeting began. As usual, the first thing on the agenda was to appoint a chairperson. You won’t be surprised to hear that nobody wanted to do it. So I volunteered just to get things moving. I was so sick of waiting.
The first topic was the increase in CAM fees: The condo was almost out of money. And if the owners didn’t agree to pay more there would be no money for anything. I expected uproar. But there was silence.
Not one person asked; why is the condo nearly bust? What happened to the money? Or, who is responsible for this? To be honest, I was shocked. I asked if people understood what was being discussed. There was some muttering.
“It is your money not the developer’s” I said, with little response. So I cast my vote and things moved swiftly on - without a single question from anyone.
In fact, they didn’t seem interested at all. Some were sending text messages or maybe playing games on their phones. Others got up to help themselves to more biscuits. But when we got onto the subject of satellite TV people became animated...
Their current provider charges 2,500 Baht a month. The condo manager wanted to change to a new supplier charging 7,000 Baht a month.
What channels would be included? Would the signal strength be better? Can we get Premier League Football? Does everyone have to get the same package? This was serious stuff.
The subject was hotly debated for over 10 minutes. Eventually the juristic person was told to find out more information.
As the meeting continued it became clear there were real problems with the way the condominium was being managed. 900,000 Baht (US$30,000) was missing from the sinking fund. It had mysteriously vanished and was unaccounted for.
The juristic person said they would have to use what was left to pay for essential things like cleaning equipment, a repair to the water tank and some additional lighting.
I pointed out that there wasn’t actually any money left to pay for anything. The sinking fund had been pretty much wiped out. So, if the CAM fees were not increased there would be no money to run the condo.
One guy, who I think had been asleep, finally woke up and said: “I think we better find out how much all these things are going to cost before we agree to spend any money on anything. We should find out exactly what’s left and have another meeting!” he declared.
And that was it. The meeting was over.
What had we achieved?
We had decided to have another meeting!
(by Rebecca Smith - real estate journalist and sales director for Phuket Ocean Villas and Ocean Villas Group).

Global retail real-estate market expected to hit US$180bn p.a. by 2020

Chunxi Road shopping district in Chengdu, China.

In the last decade, more than US$1 trillion of retail real estate has been traded around the world, according to a report recently released by Jones Lang LaSalle, the financial and professional services firm specializing in property & real estate.
The report confirms that global direct investment has averaged more than US$100bn per year since 2004 and in 2011 annual volumes hit US$122.5bn. In 2011 cross-border activity accounted for nearly half of all retail investment whilst levels accounted for only one-quarter of all trade in 2004. Cross-border activity will continue to track at around half of all retail investment, boosting annual investment volumes to US$160-180bn by 2020, representing a 30-50 percent increase on 2011 levels.
Arthur de Haast, Head of International Capital Group, Jones Lang LaSalle said: “The number of investable geographies has expanded globally as growth markets like China, Brazil and Turkey are attracting global investors. Together with an improvement in the quality and availability of retail assets, rising liquidity levels and further progress in real estate transparency, the retail investment sales sector is set for further rapid globalisation.”
Michael Niemira, Vice President of Research and Chief Economist at the International Council of Shopping Centers (ICSC) added: “Many of these growing retail real estate investment opportunities - identified by the Jones Lang LaSalle report - also are being supported by an increasing number of countries adopting real estate investment trust (REIT) investment vehicles.
“The REIT, which provides transparency and ease of investment, has grown dramatically over the last 40 years with 27 countries already offering such financial regimes and currently another seven - China, India, Indonesia, Nigeria, Kenya, Vietnam and South Africa - considering future adoption. The ease of access to cross-border and domestic capital and strong consumer fundamentals should provide a solid platform for the growing global retail real estate markets over the next decade.”
There will be a general rebalancing in capital flows towards the Asia Pacific region, due to favourable demographics and the growth of the middle class, says the report. By 2020, Asia Pacific is forecasted to account for 26 percent of global retail investment volumes, up from 22 percent currently and from only 11percent in the mid-2000s. The report projects that the Americas will hold onto around 33 percent of volumes between now and 2020, whilst Europe, the Middle East, and Africa will take around 41 percent combined (compared to 45 percent currently).
In light of this trend, institutional capital is seeking greater retail exposure as it taps into favourable global demographics and growing ‘consumer classes’, and is attracted by the sector’s defensive qualities during times of uncertainty, adds the report. This is witnessed in the growing contribution of retail to total commercial real estate investment, from 19 percent in 2007 to nearly 30 percent in 2011.
Retail’s overall contribution to total real estate investment is set to remain at close to 30 percent over the remainder of the decade, as institutions and private investors seek to tap into the growth potential of expanding consumer markets.
The report also introduces the Retail Real Estate Momentum Index, which lists the top 20 countries with the strongest momentum in retail real estate. China and India sit at the top of the list, though South East Asia and Latin American nations also feature well.
Commenting on the Index, David Hand, Head of Investment for China, Jones Lang LaSalle said: “There is no doubt that China offers an enticing and exciting proposition to investors globally. Not only is it set to become the world’s largest consumer market, but China is projected to be a US$15bn a year retail real estate investment market by 2020. The investment landscape will become more globalised, fuelled by a burgeoning middle class, rapid urbanisation, strong consumption growth and significant expansion of quality retail infrastructure. It is definitely the one to watch this decade.”
NB: For access to the full report, go to www.joneslanglasalle

Siam Paragon, Bangkok.

Exquisite Fijian tropical islands for sale

Nananu-i-cake – yours for US$10 million.

Ever wanted to own your own exotic island?
Nananu-i-cake (Nananu-e-thake), a freehold island with a smaller satellite isle, has just been released to the market for US$10million. Ready for immediate occupation, the island is approximately 1km off the northern coast of Viti Levu Fiji, and a leisurely 2.5 hour drive from Nadi International Airport or under 3 hours from the Capital, Suva.
For sale exclusively through global property agency, Knight Frank, the islands have an estimated area of approximately 600 acres, subject to survey, and comprise a four bedroom architecturally designed house along with an additional two Fiji guest “Bures” bedroom suites, that sits on top of one of the highest points on the main island, with magnificent 360 degree views over the South Pacific Ocean.
The main residential complex was designed by Murray Cockburn, a well-known and respected Fiji/NZ Architect of high repute.
Facilities include a library, swimming pool, stables, horses and sheep paddocks inclusive of stock, boats, jeeps, generators, satellite and telecommunication facilities, a fresh water supply and 300,000 gallons of water storage and a jetty. The property is well established with access tracks and roads to its five beaches.
Rick Kermode from Knight Frank, Auckland, said the extensive landscaped gardens have been developed over a generation, whilst most of the island still maintains the natural tropical vegetation, including groves of mango trees lining some of the trails, and pine forests for potential harvest.
“There are also well defined road trails for vehicles and horse trekking and ample paddocks for horses and sheep.
The islands also boast an interesting history remaining in the same family since 1974, when Sir Harold Mitchell visited from the UK and purchased the two adjacent freehold Islands as an idyllic retreat. Sir Harold held the position of Vice-Chairman of the Party under Sir Winston Churchill during the war, and his social and political standing led to a number of high profile dignitaries visiting and staying on the island at various times, for which commemorative trees were planted.
Sir Harold also enjoyed his gardens and the landscaping he created around the main house on Nananu-I-Cake exists largely unchanged to this day.
Viewing is by appointment only through

CBRE secures prime space for first Korean Cultural Centre in Thailand

The first Korean Cultural Centre in Thailand.

CBRE Thailand was appointed by the Embassy of the Republic of Korea in Thailand as the consultant for the establishment of the first Korean Cultural Centre and Korean Studies Centre in Thailand. CBRE’s Retail Services team successfully secured approximately 1,400sqm of space at a 3-storey standalone retail building in Bangkok, on Sukhumvit Soi 15 and facing the main Sukhumvit Road, for the establishment of the new centres.
The Korean Cultural Centre and Korean Studies Centre aim to strengthen the relationship between Thailand and South Korea by exchanging cultures and sharing knowledge. The centres will hold a variety of activities and events including Korean cooking, language and dancing classes, as well as press conferences on K-Pop concerts and other entertainment-related events in Thailand. The building is scheduled to open to the public in early 2013..

HEADLINES [click on headline to view story]

Sansiri announces first move in Pattaya with ‘Baan Plai Haad’

Matrix Developments collects OPP Award

Diverse winners list at 2012 Thailand Property Awards

Portofino Condominium offers new ‘marina lifestyle’ designs

Navy House Group launches Winner Condominium

Hua Hin still an attractive second home option for Thais

Is your TV more important than your home?

Global retail real-estate market expected to hit US$180bn p.a. by 2020

Exquisite Fijian tropical islands for sale

CBRE secures prime space for first Korean Cultural Centre in Thailand


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