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Kingdom Property opens Southpoint show suite
Real estate developer Kingdom
Property launched the show suites for its Southpoint Pattaya project last
month and also began construction on site. For more details, turn to page 5.
Thailand real estate developer Kingdom Property conducted
a successful launch of the show suites for the company’s eagerly anticipated
Southpoint Pattaya project on May 4. Investors and buyers gathered for a
first glimpse of the luxury development’s offerings and to celebrate the
occasion with a vibrant networking event at the prestigious Royal Varuna
Yacht Club.
Interest in Southpoint has been strong since its Environmental Impact
Assessment (EIA) approval in November last year with top buyers coming from
Thailand, Japan, China and Russia. Sales of the two-tower development have
been rapid and include the sale of the entire Suites Tower to a local Thai
investor who will develop the 224-unit building into internationally managed
serviced residences. Total sales in the 672-unit project stand at 60%.
Kingdom Property Founder and CEO
Nigel Cornick (left), Kingdom Property Marketing Manager Irena Breslavtseva
(centre), and Royal Varuna Yacht Club General Manager, Richard Holt pose for
a photo at the launch of the show suites of Southpoint Pattaya, May 4.
Founder and CEO of Kingdom Property, Nigel Cornick also
recently awarded the piling contract for Southpoint Pattaya to notable
foundation contractor Thai BAUER, an affiliate of German construction
powerhouse BAUER Spezialtiefbau GmbH, who began foundation work on the
project last month.
“As a real estate developer we are always looking to improve standards and
provide value to our buyers. Through this partnership (with Thai BAUER) I
certainly think it will achieve that and the market can be fully confident
that we are in the process of building an exceptional project of high
quality that will be delivered to all original specifications and
importantly, on schedule,” commented Nigel.
Souhtpoint Pattaya is valued at
THB2.5 billion, with the construction process scheduled to be completed in
2015.
Thai BAUER Chief Executive Officer Mike Sinkinson was
equally enthusiastic about the deal and pleased to be working on a project
and in a destination of enormous potential.
“We are delighted to be working with the team at Kingdom Property and the
familiar faces there. Pattaya as a destination has enormous potential and we
are proud to further enhance Kingdom Property’s status as a prominent
developer along the booming Eastern Seaboard,” he said.
Southpoint Pattaya is located a short distance south of Bali Hai in Pattaya
City, on an elevated site on Pratumnak Hill, offering extensive sea views
and within walking distance of the Royal Varuna Yacht Club. The THB2.5
billion-valued development is on a four rai freehold plot and will be
completed in 2015.
Unit sizes start from studios of 30sqm, with one-bedroom units ranging from
41sqm to 87sqm and two-bedroom units ranging from 61sqm to 97sqm. Prices
range from THB70,000 to THB120,000 per square metre. For more information,
go to website:
www.southpointpattaya.com.
Thai BAUER has begun piling work
on the project.
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Tulip Group turns focus onto hotel development
Centara Grand Pratamnak.
Pattaya Property Developer Tulip Group recently announced
that the group’s prime focus will be on expanding the company’s hotel
portfolio. For the past 3 years Tulip has been instrumental in bringing
branded residences to the Pattaya Real estate sector. These properties
include Centara Avenue Residence& Suites, Waterfront Suites & Residences and
Centara Grand Residence Pattaya.
These projects have been mixed use developments consisting of both hotel and
residential components, and have proved to be very successful for the
company.
However Tulip Group will now start developing only standalone hotels, as
Vice President Jason Payne explained
Jason Payne - Vice President of
Tulip Group.
“Hotel development has always been a priority for us and
we have seen this as our core business, branded residences were an ideal
opportunity to bring something different to the market, with the focus being
on building only in prime locations whether this be in central locations or
direct beachfront, however for the last 12 months we have had our concerns
that the Pattaya property market is becoming overcrowded and congested. This
has led us after taking advice from our bankers and financial advisors that
developing only hotels for the immediate future was a more sensible business
decision.”
Tulip Group will open the super luxury 5-star Centara Grand on the
prestigious Pratamnak Hill area in August this year and are currently in
talks with three international operators to bring a further 3-5 luxury
hotels to seaside resort of Pattaya, with an announcement of these
agreements expected in early July.
“Construction of our current projects will continue as planned and we are
fully committed to delivering true world class properties to our buyers. We
remain very positive about these condominiums as well as the onsite hotels,
however all projects that were in planning stages, or not officially
launched will now be put on hold, in order that we can fully focus on
expanding our hotel portfolio” continued Jason
Tulip Group currently has 4 Condominiums and 5 hotels under construction,
and the group expects their hotel portfolio to grow to around 15 properties
within the next 3-5 years.
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Matrix Developments receives prestigious International Property Award
May Watson proudly holds up
the Asia Pacific Property Award presented to Matrix Developments for its
Vision condominium project.
Hundreds of Asia’s finest developers, architects,
interior designers and real estate agents gathered at the Shangri-la Hotel
in Kuala Lumpur on Friday, May 10, to hear the long-anticipated results of
the Asia Pacific Property Awards. With 429 awards bestowed upon 260
companies from many countries around the region, it was the biggest
International Property Awards regional event in the awards program’s 19-year
history.
Pattaya based Matrix Developments accepted an award for ‘Five Star Best
Development Multiple Units Thailand’ for its Vision condominium project.
Matrix is a fully integrated developer of luxury condominiums that entered
the Thai property market several years ago, with the bulk of its projects
being concentrated in the Pattaya and Jomtien locale. The company says its
mission is to provide its customers with an unparalleled living experience
in buildings featuring premium quality materials and striking contemporary
design, at the most competitive prices.
The International Property Awards received entries from
Asia Pacific companies in 23 countries this year. Newcomer countries to the
competition were Mongolia, Bangladesh and Tajikistan with Tajikistan and
Bangladesh both receiving one award and Mongolia three awards. Lord Bates
from the House of Lords in British Parliament presented the winning
companies with special plaques during the awards presentations. Each company
was announced as either a ‘Highly Commended’ or ‘5-Star’ winner.
The 5-star winners were placed under further examination and just one from
each category, for a total of 43, was selected to represent the Asia Pacific
region in the 2013 International Property Awards. The regional winners,
which were announced at the close of the awards gala, will go on to compete
in the International Final ‘World’s Best’ Property Awards hosted in London
this coming December. They will compete against other regional winners from
Africa, Arabia, Europe, UK and the Americas to find the ultimate World’s
Best in each category.
The Vision condominium.
The Asia Pacific region has an enviable record of
achievement at international level. The region was awarded an unbeaten total
of 13 World’s Best Awards in 2012: 30% of the world’s awards and double and
even triple the amount of awards some of the other regions took home.
Stuart Shield, President of the International Property Awards said, “The
record level of participation that we’ve seen from Asia this year has
elevated the caliber of this competition. With the bar set so high, the
other regions have their work cut out for them if they hope to outshine Asia
in the International Property Awards Final event.”
Building upon the success of business events first added to the 2011 award
ceremonies, the International Property Awards also hosted a property
exhibition and networking events on May 9th and 10th at the same venue.
Presidents, CEOs, managing directors, chairmen and other decision makers
attended a number of professional networking events, including seminars,
discussion tables and an exhibition. The 2013 Asia Pacific Property &
Hospitality Show was open to all industry related companies and suppliers in
addition to award participants. For the first time ever, the exhibition area
was opened to all property enthusiasts, buyers and investors.
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Homes under the hammer concept comes to Pattaya
Paul Strachan (left) and John Collingbourne (right)
are joined by Paul Sutton (2nd left) from Powerhouse Development, May Watson
(center) from Matrix and Lorenzo Joaquin (2nd right) from Global Top Group.
Local auctioneer John Collingbourne and media man Paul
Strachan have teamed up to introduce a new business model for buying and
selling real estate in Pattaya. The duo’s newly formed Pattaya Property
Auctions aims to bolster public interest in the industry and also create
another marketing channel for property developers, assisting them to clear
out slow-selling stock.
The company’s first auction will be held at the Holiday Inn Pattaya on
Sunday, June 16 and will see standout properties from Nova Ocean View, The
Cliff, Art on the Hill, The View, Sunset Boulevard 2, City Garden Pattaya
and Paradise Ocean View, amongst many others, all go under the auctioneer’s
hammer.
“Pattaya Property Auctions fills a much needed niche in the city, where
there are over 30,000 units to choose from if you have a couple of million
baht to spend,” says business partner Paul Strachan.
“What makes Pattaya Property Auctions different is that we are only looking
to feature properties that are completed or are in the final stages of
completion,” he continued, “This gives potential buyers a great deal of
confidence as they can view the property prior to making a commitment.”
Pattaya Property Auctions has been set up in such a way that the pricing
structure gives enough leeway for owners and developers of the properties to
put them up for auction at a price that they feel truly reflects the
dynamics of the current market place, and allows them to offer sizable
discounts so that the projects as a whole can move on. The follow on from
this is that it enables those attending the auctions to realize genuine
savings, in a city where prices always seem to be on the rise.
Holiday Inn Pattaya will be the
venue for the inaugural PPA property auction on Sunday, June 16.
All properties in the upcoming auction are listed within
the Pattaya Property Auctions website. Registering on the website enables
potential buyers to view the current properties for the next auction with
the catalog detailing the various unit sizes, locations and developers.
Private viewings can also be arranged prior to each auction. A refundable
deposit of 50,000 baht is required to attend the auctions. Winning bidders
will see their deposit applied toward the properties they purchase.
The first auction this month is scheduled to include a choice of town
houses, land and condos from private individuals and from four of the major
developers in town, namely The Nova Group, Matrix, Powerhouse Development
and Global Top Group.
For more information, go to
www.pattayapropertyauctions.com.
A wide choice of town houses,
land and condos are set to go under the hammer.
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Raimon Land
appoints new CEO
Luxury property developer Raimon Land PCL has announced
the appointment of Johnson Tan Chin Kwang as the company’s new Chief
Executive Officer.
Johnson Tan joined Raimon Land’s Board of Directors on 1st February 2013,
when he helped acquire the company for Singapore based JS Assets Management.
 New
Raimon Land CEO, Johnson Tan.
As the new CEO, Johnson Tan will devote his energy on the next strategic
move for Raimon Land. “Our plan for Raimon Land is two-pronged. As we retain
our core competence in developing high-end quality properties in Thailand,
we will look at diversifying our revenue base by generating recurring
revenue from non-residential segments”, he said.
Director and chief shareholder Lionel Lee commented: “We are fortunate to
engage an experienced and dynamic individual like Johnson to reinforce our
management team. Johnson’s vision and sharp analytical skills honed from his
past career will add depth to the management as the company moves into our
next growth phase.
Chairman Pradit Phataraprasit added: “Raimon has a long history and great
potential. The company will benefit from Johnson’s network throughout the
region as it charts the next stage of development. I am proud to say that he
has the unanimous support from our entire board of directors.”
Johnson Tan holds a Bachelor of Arts and a Bachelor of Social Science
Economics (Honors) degree from the University of Singapore where he
graduated at the top of his class and was a recipient of the Lim Tay Boh
gold medal and NUS Economics Society Book Prize. He has held senior roles in
his 20 years of investment banking experience spanning New York, Hong Kong
and Singapore. In Thailand, he has led the recapitalization of TMB Bank.
Tan takes over from previous CEO Hubert Viriot who is returning to a post
with IFA Hotels and Resorts in Dubai. Earlier this year IFA disposed of a
24.97% stake in Raimon Land to Singapore’s JS Assets Management headed by
Lionel Lee.
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Commercial real estate investment up 26% in Asia Pacific
Direct commercial real estate investment globally reached
a milestone in the first quarter of 2013, with the highest Q1 global
transaction volume recorded since 2008, according to property management and
investment company Jones Lang LaSalle’s latest Global Capital Flows report.
Volumes came in at USD 105 billion for Q1 2013, with all three regions
witnessing growth year on year, as the weight of money chasing real estate
has increased significantly.
Commercial real estate investment
in Japan rose 38 percent in the first quarter of 2013.
USD 27 billion was invested directly in Asia Pacific
commercial real estate in Q1 2013, which is on par with Q4 of last year, but
up 26 percent on the first quarter of 2012. Asia Pacific was the only region
not to see a decline in volumes transacted compared to Q4 of 2012. An
increased proportion of transaction volumes in the Asia Pacific region in
the first quarter was made up of domestic deals (USD 20 billion), with cross
border investment (USD 7 billion) down 24 percent year on year and down 11
percent quarter on quarter.
Stuart Crow, head of Asia Pacific capital markets at Jones Lang LaSalle
said: “Continued quantitative easing globally is increasing liquidity and
reducing the cost of debt in Asia Pacific, which is making real estate
assets more accessible to investors within Asia Pacific.”
He continued: “We maintain our expectation of an increase in transaction
volumes in Asia Pacific to USD 110 billion for 2013, which will be about 12
percent up on last year, and we think that Japan is going to be the ‘one to
watch’ this year. We expect a lift in investment activity in the country, as
positive signs are emerging following announcements about stimulus measures
targeted at reflating the Japanese economy.”
Asia Pacific on the
global stage
Investors from Asia Pacific maintained their preference for
European investment during the first quarter, particularly the biggest, most
liquid cities of Paris and London, concentrating on office and hotel assets.
The USD 2.6 billion spent outside the region is 45 percent higher than this
time last year.
Alistair Meadows, director, International Capital Group Asia Pacific, Jones
Lang LaSalle commented: “New capital continues to emerge from Asia Pacific
that is aggressively targeting global cities, especially London and New
York. The sources of this capital are increasingly Chinese sovereign wealth
funds (SWFs) and insurance companies as well as pension funds from Korea and
Malaysia. Core office assets in gateway cities remain the favoured targets,
making up 50 percent of global cross-border activity.”
Country focus
Four Asia Pacific countries featured in the ten largest markets
globally in Q1 this year, Japan, China, Hong Kong and Australia. Domestic
investors accounted for the lion’s share of investment in all except China,
reflecting a trend seen across the region in the past quarter, as investment
from investors within the region has increased.
Japan stood out at USD 10.6 billion, up 32 percent year on year and up 38
percent quarter on quarter, reflecting a broad improvement in sentiment
across the economy, with consumer confidence at a five-year high and a
weaker yen that will help to support the large export market.
Hong Kong continued to see increased levels of transactions; USD 3.3 billion
in Q1 is on par with Q4 2012 and up 68 percent year on year. However the
doubling in stamp duty in late February may result in a slowing of
transaction volumes over the next couple of quarters as buyers and sellers
adjust expectations in the light of the additional tax.
China, with investment volumes of USD 3.6 billion (up 62 percent quarter on
quarter and flat year on year), was boosted by a number of cross-border
deals pushing the share of cross border transactions to around 65 percent
for 1Q 2013.
In Australia volumes were USD 3.2 billion, down 18% quarter on quarter but
up 23 percent year on year, with cross border deals down around a third both
quarter on quarter and year on year with local buyers active. Yields are
compressing due to the weight of capital.
City focus
Five Asia Pacific cities made the top ten most active cities
globally, with Tokyo maintaining its number three spot (USD 5.9 billion),
Hong Kong ranked fifth (USD 3.3 billion), Shanghai ranked sixth (USD 2.4
billion) and Singapore ranked ninth (USD 1.9 billion).
Purchasers
Four of the ten top ten purchasers globally by source of capital
were from the Asia Pacific region; whilst China’s Q1 2013 spend remained on
par with Q1 of last year, spending by Australia and Japan doubled and Hong
Kong spending globally was up by over 200% compared to this time last year.
Looking at cross-border purchasing countries (investors buying real estate
outside of their home market), Hong Kong, Singapore and China featured in
the top ten. Singapore was more subdued than the first quarter a year ago,
but institutional investors have on-going spending requirements and have
increased their allocation to real estate so are expected to become more
active through 2013.
There was a substantial increase in REIT (Real Estate Investment Trust)
purchasing activity as the impact of looser monetary policies in Japan came
into effect. This combined with the REIT sector in the US continuing to
acquire assets and confidence slowly returning to the smaller European REIT
sector pushed REITs to be the most active investor group this quarter – USD
7.7 billion compared to USD 0.7 billion a year ago.
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Survey finds Thais support stronger buying controls
There is a growing call for the Thai government to look
into tightening foreign ownership of property according to a survey
conducted by DDProperty.com, a subsidiary of PropertyGuru Group.
The main concern amongst Thais is the demand for property by foreign buyers
hiking up prices, especially for the private apartment and condominium
market segment. Out of 1503 respondents in the survey, more than half
expressed dissatisfaction regarding the current Thai property market, with 4
in 5 expecting further price rises in the next 6 months.
Reflecting the negative sentiments on the ground, respondents perceive the
government’s efforts in making housing more affordable to be insufficient.
Close to 2 in 3 oppose relaxing the foreign property buying restrictions
with those in the 30-39 years of age bracket being the fiercest opponents of
any change to the regulations. In addition, 52% expressed a general
disappointment over existing initiatives such as the First Home Buyer
Campaign.
“Thai property buyers anticipate property prices to go up, and hence want
the government to step in to manage the pace and ensure that property
affordability will remain within their reach,” said Raymond Tan, Managing
Director of Added Value Singapore. “The challenge is to find the correct
balance which will entice local Thais to invest locally while continuing to
attract foreign property investors”.
Survey findings also highlight the trend of more Thais looking overseas for
more affordable options. A third of the respondents said they were
considering buying properties elsewhere, with Laos and Australia being two
of the more popular locations where interest lies mostly in houses,
condominiums and land (particularly in Laos).
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Area politicos attend The Surf grand opening
Developers Phaisan Bunchuen and Wanchai Saelim pose
with public dignitaries and officials at the launch of The Surf condominium
project, Saturday, May 18.
Top area government and police officials were on hand as
developers behind The Surf condominium project celebrated their grand
opening.
Executives Phaisan Bunchuen and Wanchai Saelim welcomed Chonburi Deputy Gov.
Pornphot Banthityanurak, Pattaya Deputy Mayor Ronakit Ekasingh, Permanent
Secretary Pakorn Sukhonthachat and Nongprue Police Station Superintendent
Col. Somnuk Janthages and Pattaya Tourist Police chief Col. Arun Promphan to
the May 18 soiree at The Surf on Soi Sukhumvit 54.
The Surf is the first condominium with a “sky walk” room that is a room with
glass floors offering residents a feeling of walking on air.
Fully furnished units in the 8-storey building start at just 980,000 baht.
Developers tout the location of the project being near shopping centers and
entertainment destinations, as well as several Pattaya-area tourist
attractions.
For more information call 091-236-6089 or 088-418-9199.
(By Teerarak Suthathiwong)
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Treetops developer touts 50% sales at agent party
Prab Thakral, Managing
Director of the Boutique Group (3rd from right) poses with the sales and
promotion team at the celebration party for Treetops Pattaya, May 17.
The Boutique Group of Companies, recipient of a winner’s
award at the 2012 Thailand Property Awards for the innovative Rain Hill
retail development in Bangkok, marked the halfway point for sales of its
Treetops Condominium on Pratamnak Hill in Pattaya with a party for area
estate agents.
Prab Thakral, managing director of the Boutique Group, welcomed guests to
the Treetops sales office next to the Sugar Hut Resort on Thappraya Road May
17.
A 69sq-meter 2-bedroom
apartment at the show suite.
Treetops Condominium was launched in November last year,
offering 252 units split over 12 floors. Floor plans include studio and
one-bedroom layouts ranging from 24-69 sq. meters, including corner units
with views of Pattaya Bay. Prices start at 1.3 million baht.
All units are fully furnished and amenities include infinity poor, fitness
center, barbecue area and security systems.
“The excellent location of the project, located at the highest point of
Pratamnak Hill, near the Pattaya Courthouse and Big Buddha Hill and Jomtien
Beach, has seen a strong uptake from buyers since the launch of the project
and we have also received continuous interests from customers wanting
seaside residences at economical prices,” Prab said.
To celebrate having already achieved 50% sales in the project, the
developers are offering a special promotion with buyers able to select one
of five free gifts including an iPad Mini, an iPhone 5, 1-year free
maintenance, free transfer fee, or a 1-year Education Visa.
Treetops Pattaya will begin construction at the end of 2013 with completion
set for 2014. For more information, call 091-245-8506 or visit
TreetopsPattaya.com.
(By Warunya Thongrod)
A scale model of the Treetops
Pattaya project, which will be located on Thappraya Road near to Pattaya
courthouse.
Real estate agents and media
enjoy the party to celebrate 50% sales in Treetops.
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Hughes Krupica &
Limcharoen to sponsor
Thailand Property Awards
Leading Thai law firms Hughes Krupica and Limcharoen have
recently signed on as co-sponsors of one of the region’s most celebrated
real estate events, the Thailand Property Awards, with this year’s Gala
Dinner and Awards presentation taking place in September.
“We are delighted to welcome Hughes Krupica and Limcharoen as key
co-sponsors at this year’s Thailand Property Awards,” said Terry Blackburn,
CEO of event organiser Ensign Media. “Working with such established firms
means the awards will be able to thrive as we celebrate the best in Thai
real estate.”
Hughes Krupica, which formed in February, emerged from a group of lawyers
well versed and experienced in specialist practice areas including real
estate, hospitality, leisure and dispute resolution. Senior Partner Robert
Krupica said, “We are excited about our involvement this year, as it marks
further penetration for us within the specialist fields in which we operate.
Our law firm is growing and developing at a sustainable pace in accordance
with our objectives to service clients, and that includes supporting their
industry through sponsorship. We are in this for the long haul, and look
forward to many more years of a successful Thailand Property Awards”
Specialists in investment markets, Limcharoen provides business and
financial advice throughout Asia and across the globe.
“The Thailand Property Awards is a unique opportunity for Thailand to
showcase the best of the best of Thailand’s real estate and to reveal to the
world the formidable standard of luxury real estate and ancillary
professional services which Thailand has to offer,” Limcharoen’s Chief
Operating Officer Christian Glanville said. “The gala dinner is a unique and
wonderful opportunity for the key players in Thailand’s real estate industry
to get together, share ideas and celebrate the best achievements of their
peers.
“We have witnessed the standards of the shortlisted entries improve year on
year as each year’s winners become a benchmark to be surpassed by other
developers in subsequent years,” Glanville added. “The Thailand Property
Awards not only recognise achievements in Thailand’s real estate industry
but set the standards as well.”
The 2013 Thailand Property Awards ceremony will take place at the Centara
Grand & Bangkok Convention Centre at Central World on September 19.
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Compass offers a new direction for developers, agents
Marketing guru Charlie Warner talks to Pattaya Mail about his company’s venture into the local property arena
Charlie Warner is the founder of Silvermover, a company in
Pattaya that offers integrated marketing solutions. In 2011 Charlie joined
forces with his old friend Rob Rowcett to create Compass, which is a
traditional real estate company, but one that offers some extra added value.
And a recent addition to the team was Peter Knight who has joined the
company as a third partner.
Charlie Warner.
Here Charlie discusses with Paul Strachan the
ever-changing real estate market and how he and his partners at Compass now
have their sights firmly fixed on Pattaya and the rapid expansion of this
amazing city.
Paul Strachan: Charlie you are something of a marketing guru, can you tell
us a little more about Silvermover and why Compass came into being?
Charlie Warner: I set up Silvermover in 2006 and at the time it was mostly
internet marketing, websites etc. Over the next couple of years we got calls
from customers for print media and other marketing services and Silvermover
became what it is now, an integrated marketing solutions company and the
first of its kind in Pattaya. We can cover everything, from the brand
imaging right through to printing the business cards.
P.S: So sometimes your clients may have a project or idea but they don’t
know what to name it?
C.W: Yes that can apply to condos or other products. The idea of delivering
a product to the market is to make it appealing and attractive to the
customers, and that of course includes the name.
P.S: The Compass office is situated on Sukhumvit Road between central and
south Pattaya, so where does the story start for the customers.
C.W: Compass is a traditional real estate agent, we sell and rent houses and
condos but what we also offer is turnkey sales and marketing solutions to
property developers. So for those who don’t have an established sales team
or are maybe new to the market, Compass can provide then with a turnkey
solution.
P.S: When you talk about the market, I assume you mean here in Pattaya,
which is very different from Bangkok?
C.W: Yes Pattaya is a very individual market and it is here that we are
based; however we do have an office in Bangkok on Sukhumvit 13 where we
offer properties in Pattaya to those living in Bangkok.
In Pattaya everybody here is a potential customer, from a developer’s
perspective, and we have overseas customers as well. We are fortunate in
that a lot of those international clients come to Pattaya rather than us
trying to reach them in their home countries, so we manage to sell them an
idea when they are here.
P.S: Compass and Silvermover have been behind some of the big new
developments in Pattaya, such as Atlantis, Grande Caribbean, Treetops etc.
Can you tell us how you became involved in those projects?
C.W: Compass is quite a new company, we started about eighteen months ago,
however my work with Silvermover allowed me to work closely with real estate
agents and property developers and I could see that there was an opening in
the market for a full service broker that could offer both sales and
marketing solutions to developers.
The developers have a huge task just to create and complete the buildings
and often overlook how important the sales and marketing is. To develop your
own in-house sales and marketing team can be done but it’s quite a big task.
So what Compass did was to go to a developer with a turnkey solution. We can
run your showroom for you, do your marketing for you, run the sales
operation right through to contracts and even payment terms. A lot of
developers have found this very attractive. The first client for Compass was
Blue Sky’s Atlantis project which was very successful, with it nearly being
sold out and a completion date on course for 2014.
P.S: Since Atlantis, there are other developments that have come on board
such as Grande Caribbean, Seven Seas etc.
C.W: Yes, currently Compass is joint managing agent on Atlantis, Grande
Caribbean, Seven Seas and Savanna Sands. And we are joint agents with Clare
Pattaya Property with whom we have been working for a number of years.
Treetops, which is a smaller project with 252 units, has Compass as a sole
managing agent. We run that for the Boutique Group, a Bangkok based company
known for their Rain Hill shopping mall and a number of Citidiens and
Oakwood serviced apartments. This was their first venture into Pattaya and
they wanted to work with a local firm that understood the local market, had
established contacts and relationships here. Again the results have been
tremendous, with sales of over fifty percent and this despite the showroom
not being completed when they launched.
P.S: So with the expansion of Compass, real estate agents won’t see you as
competition but more of a partner?
C.W: Yes absolutely, we only aim to facilitate sales for the developer,
agents still get their commission. At Compass we provide all the good local
agents with the marketing materials, the brochures, the point of sales
material, anything they need. We can provide it to them so they can create
interest with their own customers directly, and then we just help facilitate
the close of the sale.
P.S: And with the sales that you have achieved over the last eighteen
months, you are obviously doing a good job?
C.W: Yes, fifty percent of the sales have been achieved by local agents.
Compass receives a fee every time we sell a condo, but the agent also
receives their commission meaning that the wheels keep turning, people keep
investing and many of them want to be as lucky as us, to live in this
amazing city.
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Orion condominium makes its debut
Orion - Urban Retreat made its
debut at a glitzy launch party on May 4.
Over 500 guests and media attended a launch party last
month for another new condominium project in Pattaya’s prestigious Pratamnak
area. The Orion – Urban Retreat condominium in Cosy Beach is a 20-storey
luxury high-rise consisting of just 275 separate units. The project marks
the debut in the city for developer Baikaljilstroi Construction, a household
name in the Russian construction scene boasting nearly 3 decades of
experience in the property industry.
The Orion development will
incorporate 275 units with sizes ranging from 33.5sqm – 118sqm.
The Orion condominium will feature 2 swimming pools
(including a rooftop infinity pool), a sauna, 2 fitness centers plus a
jogging track, restaurants and shops. The project is located just 5 mins
walk from the beach.
Unit sizes at Orion range from 33.5sqm for one bedroom units to 118sqm for a
two bedroom penthouse. The developers say the Orion will offer a variety of
room designs to accommodate several different lifestyle needs.
Guests attending the May 4 party were treated to a lavish buffet and
entertainment including a bartender show, supermodel parade, live music and
fireworks. In addition, any customers purchasing a unit in the Orion project
during the day of the event received a free Honda PCX motorcycle.
For more information about the Orion – Urban Retreat, go to
www.orionpattaya.com.
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