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Buritara triples down on AEC with Chonburi developments
Buritara Chateau Resort Condo
will be located just 200 meters from the beach in Bangsaen.
The Buritara Group plans to spend more than 1 billion
baht on three new developments in Chonburi.
Managing Director Titi Chinsomboon outlined the expansion into resort and
condominium development July 19. The projects follow on the Buritara Resort
Condo in Jomtien Beach, whose 514 rooms are currently 30 percent sold.
 Titi
Chinsomboon, Managing Director of the Buritara Group.
Next on the drawing board are the Buritara Town Resort Jomtien hotel
project, Buritara Royal Grand Hill Villas housing development in Jomtien
Beach and the Buritara Chateau Resort Condo in Bangsaen.
Titi said the company is betting big on the coming ASEAN Economic Community
and hoped-for increases in tourists and expatriate residents.
Whereas the Buritara Resort Condo was aimed primarily at investors – with
its management service that finds renters for condo owners and guarantees a
5 percent annual return – the Town Resort is a retro-style modern hotel
offering 24-hour service to guests. The project is estimated to cost 300
million baht and construction scheduled to begin at the end of this year.
The Royal Grand Hill Villas, meanwhile, are a group of nine homes starting
at 40 million baht each. The 300 million baht project on Sukhumvit Road is
still in the design phase and likely will break ground in the middle of next
year, company officials said.
In Bangsean, the Chateau Resort Condo is a 400 million baht project located
in Muang Saensukh, next to Burapha University and 200 meters from Bangsaen
beach. Prices start at 2.9 million baht and executives said 40 percent of
the units have been booked.
(By Thanachot Anuwan/PM)
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Index opens 600 million baht showcase in Pattaya
Pattaya Mayor Itthiphol
Kunplome (center) officiated at the opening of the Index home furnishing
company’s brand new 18,000-sq.-meter Living Mall on July 18.
Physically, Index Living Mall only moved over the road,
but the company says its new 18,000-sq.-meter showroom is a huge move up.
Mayor Itthiphol Kunplome joined top Index executives CEO Pisit
Patamasatayasonthi, MD Kridchanok Patamasatayasonthi and Deputy MD Khanthong
Udommahantisuk at the grand opening of the 600 million baht location on
Sukhumvit Road July 18. Index used the two new floors to showcase a
collection of high-end and design furniture aimed at upper-class customers,
business owners and foreign tourists.
The new Index Living Mall
branch on Sukhumvit Road at the Central Pattaya three-way intersection is
easily found.
Index Living Mall Co. Managing Director Kridchanok
Patamasatayasonthi said the company is in the midst of an expansion plan
that saw new Index locations in Nakhon Sawan and Nakhon Ratchasima in the
first half of the year. The Pattaya branch will be followed by a new
location in Samut Sakorn.
She said the Pattaya move was needed because the former location offered no
room for expansion due to the Highway 7 access road. Despite the much-larger
size, Kridchanok said the company isn’t worried about business levels.
(L to R) Pitphim
Patamasatayasonthi, Khanthong Udommahantisuk, Pisit Patamasatayasonthi,
Mayor Itthiphol Kunplome, Pol. Gen. Jongsak Phanitkul, Kridchanok
Patamasatayasonthi, and Khwanchai Kitkongjorn cut the ceremonial ribbon to
officially launch the new branch.
“The new branch was opened to fulfill the increasing
demands of Pattaya City, where the real estate industry is growing
exponentially with construction of villages and condominiums,” she
commented.
The new store offers a larger range of brands, including Winner furniture,
Serta, Theraflex, Power One, kitchen and built-in electrical appliances and
imported furniture from Denmark. It also houses an Au Bon Pain café for
hungry shoppers.
Kamolthep Malhotra, General
Manager of Pattaya Mail Media, congratulates Kridchanok and Pisit
Patamasatayasonthi on the opening of Index Living Mall’s newest branch in
Pattaya.
Itthiphol congratulated the company on its new store and
said he believes the growth of the company reflects the potential of
Pattaya’s economy and will fulfill the needs of local residents.
(By Urasin Khantaraphan/PM)
Dancers & drummers provided a
popular attraction during the opening of the new Index Living Mall branch on
Sukhumvit Road.
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Tulip Group’s newest hotel setting high standards in Pattaya
The rooftop pool at Centara Grand Phratamnak
Pattaya.
Less than eight months after its grand opening, the five-star luxury Centara
Grand Phratamnak Pattaya hotel is already being ranked by TripAdvisor as
number 5 out of 361 hotels in Pattaya. The TripAdvisor rating is 94 percent,
based on reviews and star-ratings provided by guests who have stayed at the
hotel posted to the international travel website, which is regarded as a
benchmark for providing information to travellers.
Centara Grand Phratamnak Pattaya is located at Pattaya’s exclusive
Phratamnak Hill district, and is only steps away from the beach.
The architectural style and the interior design of the property lends to its
luxurious ambiance. The hotel features an atrium with glass lifts to service
the rooms and the rooftop swimming pool where the signature Italian
restaurant Ruffino is also located. The lobby has two large aquariums and is
complemented with marble flooring, crystal chandeliers, onyx tables and
furniture from the premier Italian designer Casa Fendi.
“Our team here is thrilled and honoured that our hotel is so highly regarded
by so many people within just a short time of the opening,” says general
manager Dominique Ronge. “Pattaya is a highly competitive destination in
terms of hotels, and to achieve this level of rating reflects both on this
beautiful property and on the genuine warmth of our wonderful team here.”
The hotel’s style and location has also quickly led to it becoming a prime
venue for high society and corporate events; on August 29 this year, the
hotel will play host to the inaugural Miss International Russia in Thailand
beauty pageant. Fashion TV as well as many other local and international TV
stations have confirmed their attendance and support of the event which is
sure to be an evening of glamour and luxury.
“We are very proud to be the venue for this exciting new beauty pageant, in
cooperation with our owner Tulip Group,” said Mr. Ronge. “This is a perfect
opportunity to further build on the good relationship between Thailand and
Russia.”
The first phase of Centara Grand Phratamnak Pattaya opened in October last
year. The second phase, which will include Club rooms, Suites, a meeting
room, and a beach house with Spa Cenvaree, will open in the third quarter of
this year.
Tulip Group are owners and developers of luxury condominiums and hotels in
Pattaya. Currently Tulip Group has five condominium projects and 6 upscale
hotels under construction, working with local and international hotel
operators such as Centara Hotels & Resorts, Accor, Golden Tulip Hotels and
Red Sea Group.
The lobby area of the hotel features marble
flooring, crystal chandeliers and furniture from premier Italian designer
Casa Fendi.
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Siam at Siam buys into Mövenpick White Sand Beach project
Pongphan Sampawakoop, Chairman of Apex
Development PCL.
Apex Development PCL, owner and developer of the
currently under construction 30-Rai beachfront Mövenpick White Sand Beach
Pattaya, recently announced that it had sold the north tower of the
development to Siam at Chonburi Co., Ltd., a subsidiary of the Siam at Siam
Hotel Group, for an undisclosed amount.
Pongphan Sampawakoop, Chairman of Apex confirmed that despite the sale, the
overall development and services of Mövenpick White Sand Beach project will
remain the same, with the Mövenpick Hotel, Residences and Pool Villas all
still on schedule.
Mr. Sampawakoop advised that the project construction and decoration are
nearing completion and the transfers of all sea-view Mövenpick Residences
and Pool Villas to existing buyers are scheduled to take place in the 4th
quarter of this year. The opening of Mövenpick Hotel meanwhile is scheduled
to be within the 2nd quarter of 2015.
The Mövenpick White Sand Beach
Pattaya development, currently under construction in Na Jomtien.
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Thai Bauer appointed piling contractor for The Riviera
Riviera Group’s Winston Gale
(left) with
Thai Bauer Managing Director Mike Sinkinson.
Progress on The Riviera at Wongamat Beach is moving
forward rapidly as late July saw project developer Winston Gale award the
piling contract to Bangkok based Thai Bauer.
Mike Sinkinson, the Managing Director of Thai Bauer was on hand for the
photo ceremony and commented: “The Riviera is a quality contract for us, we
like working in Pattaya and have successfully completed many projects here
to date. This award helps to strengthen our position here even further.”
Thai Bauer boasts a wide and diverse portfolio of clients including many
award winning developments in Bangkok and the Eastern Seaboard. Riviera
Group’s Winston Gale said of the appointment, “Thai Bauer are an excellent
team to build our foundations with and they have some of the best
construction equipment available in Thailand today.”
Piling was due to start late July with a scheduled 3 month completion
period. The Riviera is a twin tower 43 and 40 storey development located in
the up-market Wongamat area of north Pattaya. Construction completion is
targeted for the end of 2017.
For further details on the project contact on: 081-577-0645 or go to
website: www.therivierapattaya.com.
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Hotel operator to open
Veranda Residence in Jomtien
Werawat Ongwasit, MD of Veranda Resort & Spa Co.
Ltd, (right) and event host Warawut Laophongchana (left) talk to media and
potential investors at the July 18 official announcement of the 36-floor
Veranda Residence project in Jomtien.
The owner of a luxury Hua Hin hotel is moving into
Pattaya’s condominium market with the Veranda Residence in Jomtien Beach.
Werawat Ongwasit, managing director of Veranda Resort & Spa, joined
celebrity host Warawut Laophongchana July 18 to announce the 320-unit
complex to be located on Jomtien Beach Road near Soi 4. Prices start at 3.4
million baht and completion of the development is projected for 2016.
Veranda is trying to differentiate itself in Pattaya’s crowded condo market
by offering unobstructed views in all its beachfront rooms. To accomplish
that, the lowest residences in the building will be on the 8th of 36 floors.
Units range in size from 32.5-sq.-meter studios to a penthouse measuring 266
sq. meters.
Veranda marketing executives said the project will be patterned after its
five-star Hua Hin property, both in colors, furnishings and amenities. The
building will feature modern flourishes, but surrounded by nature. Services
include restaurants, bars, swimming pools and room service.
For more information, see VerandaPattaya.com.
(By Jetsada Homklin/PM)
Veranda Residence will offer
room sizes ranging from 32sqm - 266sqm, all with a sea view.
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ICONSIAM aims to be symbol of national pride
Chadatip Chutrakul, CEO of Siam Piwat Co., Ltd.,
(center), Tipaporn Chearavanont, CEO, Magnolia Quality Development
Corporation Ltd.,(right) and Narong Chearavanont, Senior Executive Assistant
to Chairman of Charoen Pokphand Group Co., Ltd., (left) pose for a
photograph following a press meeting to announce the naming of ICONSIAM.
The owners of a property development representing the largest investment
ever made by the private sector in a real estate endeavour in the country
recently presented first details of the mega-development’s key components,
and announced that the dramatic new riverside landmark being constructed in
Bangkok is to be named ICONSIAM.
The 750,000 square metre gross floor area (GFA) development, for which
piling has just begun, includes two glamorous retail complexes covering
525,000 square metres, two super-luxury waterfront residential condominium
buildings of 70 and 40 floors, a riverside event plaza of over 10,000 square
metres, as well as seven attractions that are the first of their kind in
Thailand and which are called the ‘Seven Wonders at ICONSIAM.’ Among the
attractions is Southeast Asia’s longest land-based multi-media
water-and-fire feature at over 400 metres in length.
The developers also announced that they have raised their investment to
US$1.54 billion (Bht 50 billion), up 40% from the time when the decision to
develop the plot was first announced, in response to strong interest in the
development’s concept and the expansion of the project’s land area from 16
acres to 20 acres.
This photo shows the location site for ICONSIAM.
The development, situated in the heart of Bangkok, promises to revitalize
the Chao Phraya River area of the city.
ICONSIAM, due for completion in 2017, is being developed by three of
Thailand’s most successful businesses including Siam Piwat - owner and
operator of prestige retail developments such as Siam Paragon, Magnolia
Quality Development Corporation - a top-end residential developer with
projects such as Magnolias Ratchadamri Boulevard, and multi-national
conglomerate Charoen Pokphand Group.
Chadatip Chutrakul, CEO of Siam Piwat Co., Ltd., commented: “We are creating
the most sensational property development that this country has ever seen
and one that will change the axis of activity within Bangkok as well as
boost the city’s appeal as a top global destination. It combines the best of
the world with the best of what Thailand has to offer. ICONSIAM is also
pioneering revolutionary new ideas at the forefront of retail development.”
The site has 400 meters of river frontage, the longest of any property in
central Bangkok, and is set to revitalize the city’s world-renown Chao
Phraya River area.
“More than 30 important establishments with riverfront sites along 10
kilometers of the river will collaborate with joint promotions, activities,
and shared river boat services. They aim to make the river into a
global-scale attraction to further boost Bangkok’s appeal as one of the
world’s most desirable destinations as well as enhance its standing as a hub
city in the new ASEAN Economic Community. The establishments include
retailers, hoteliers, river transport operators and sites of historical and
cultural significance,” said Narong Chearavanont, Senior Executive Assistant
to Chairman of Charoen Pokphand Group Co., Ltd.
ICONSIAM will feature a spectacular 400m
waterfront with Southeast Asia’s longest land-based multi-media
water-and-fire attraction.
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Date set for second
Pattaya Property Show
Over 55 exhibitors are expected at the 2nd
Pattaya Property Show being held at the Dusit Thani Pattaya from 3-5 October
2014.
Organisers have announced that the 2nd Pattaya Property
Show will take place at the Dusit Thani Pattaya resort and hotel from 3-5
October 2014.
The show has almost doubled in size since its debut earlier this year at the
Hilton Pattaya and many new projects will be launched at the October Show.
Over 55 exhibitors are expected to participate, allowing buyers and
investors an opportunity to see what is on offer, compare locations and to
negotiate on prices.
Charlie Warner CEO at event organisers Exact Trading said: “For most of us
buying a property will be the biggest investment we make during our
lifetime. Therefore, it’s very important you do as much homework as you can.
At the Pattaya Property Show you can meet the developers ask those important
questions, make comparisons easily and negotiate a good deal. There will be
new and second hand property for sale, plus rental opportunities covering a
widespread range of designs and prices.”
Exhibitors will be promoting condos, villas, town houses and apartments from
all over Pattaya and from Rayong, Bang Saray, Hua Hin and further afield.
Developers and realtors taking part include Raimon Land, Rightmove Pattaya,
Kingdom Property, Del Mare, Veranda Resort and Spa, Matrix Developments,
Heights Holdings, The Ville, Universal Group, Global Top Group, Ocean
Residential, Sea Saran, Siam Realty Group, Norwegian Group, Pattaya Posh,
Mosaic and many more.
The show will be open daily from 10.00-18.00hrs and entry is free. For up to
date information, visit www.pattayapropertyshow.com.
Exact Trading are also organizing the 1st Thai Property Expo at the Conrad
Bangkok from 7-9 November 2014. This expo will feature real estate from
across Thailand including Chiang Mai, Kao Yai, Rayong, Phuket, Koh Chang,
Pattaya and Hua Hin.
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A bright outlook for central Bangkok condo market
Authorities and commentators may have shown a recent
concern about oversupply in the Bangkok condominium market, but leading
property management and advisory company CBRE Thailand believes that the
Central Business District (CBD) condominium market in Bangkok is in a very
different situation to the midtown and suburban areas.
Their findings indicate a limited new supply in the core downtown markets of
Sukhumvit, Lumpini, Sathorn, Phayathai and the Riverside. There are just
over 100,000 completed condominium units in these areas and a further 26,000
units under construction due to be completed over the next three years. The
total existing and new supply in the core downtown market accounts for less
than 20% of the total condominium supply in Bangkok.
“There is very little built-but-unsold inventory of developers in completed
buildings. For example, several years ago the owner of two towers at
Millennium Residence was selling the remaining units at a discounted rate.
These have all been sold and now we see more buyers than sellers for units
in this project,” said Pornpimol Phuengkhuankhan, Head of Residential Sales
Services Ad Hoc of CBRE Thailand. “This is typical of the situation in many
of the best quality, most sought after condominiums where CBRE sees few
units being offered for resale,” she added.
Despite the political turmoil in the first half of 2014, there have been
record-breaking land transactions in the centre of Bangkok. For instance, it
was reported that Q House, a public listed property developer, paid a price
of between 1.7 – 1.8 million baht per square wah for a 3 rai (4,800 square
metres) site on the corner of Sukhumvit Soi 6 to build a luxury condominium.
Rising land prices mean that any new condominium development will be more
expensive than past projects. This should will help push up prices in the
best completed buildings.
Bangkok is a complicated market and prices for existing condominium projects
are not just determined by location. Each building has its own individual
market dynamics based on age, quality of design, specification, number of
units being offered for sale and popularity among tenants, making the
building attractive to buy-to-rent investors. The result is that prices for
buildings in similar locations can be very different.
In some locations, CBRE has seen examples of vendors struggling to sell
units in a twenty-year old building at more than 50,000 baht per square
metre while owners of units in more recently completed buildings less than
100 metres away are selling at over 130,000 baht per square metre.
Expatriate rents are also rising for the first time in over twenty years
because of the rising number of foreigners working in Bangkok. Many foreign
tenants want to rent two and three-bedroom units and the supply of two and
three-bedroom apartment (single ownership) and condominium (multi-ownership
) buildings is not growing. Only 2% of the condominiums under construction
in the downtown area will be three-bedroom units.
As rents increase, sale prices for those condominiums most popular with
expatriate tenants will also rise, especially in an environment where there
are low rates of return on other investments. Few banks are offering
interest rates better than 2% per annum on one-year time deposits and
property offers a better yield together with the possibility of capital
appreciation.
“Anyone expecting condominium prices to fall in the downtown area due to the
political turmoil is likely to be disappointed and there is more chance of
pricing rising rather than falling,” concluded James Pitchon, Executive
Director of CBRE Thailand.
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Sansiri voted ‘Most Admired Brand’ in real estate
Apichart Chutrakul, CEO of
Sansiri Public Co. Ltd.
Sansiri Public Co. Ltd. has been voted as Most Admired
Brand by readers of popular magazines Brand Edge and The Company.
Apichart Chutrakul, CEO of Sansiri thanked readers of the two publications
and noted that the award demonstrated that the company’s projects were
accepted and thought highly of by both customers and marketing experts
alike.
Brand Edge readers voted Sansiri as Thailand’s Most Admired Brand 2014 based
on three main criteria; company and agent image, price and promotions, and
finally advertisement and communication. Readers of The Company made
their award based on innovation, responsibility, company and director image,
service, and the success of management. Sansiri received the highest score
for corporate responsibility and company image and second in innovation.
Apichart said that despite the awards the company will not rest on its
laurels and will continually strive to improve and fine tune its
developments and projects to offer customers a better experience.
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