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Glamorous ‘soft-opening’ for
The Riviera Jomtien
(L-R) Metinee, Kingpayome, developer Winston
Gale, and Pattaya Deputy Mayor Ronakit Ekasingh raise a toast during the
soft opening ceremony for The Riviera Jomtien.
Not content to rest on its laurels following the
pre-sales success for its latest project, The Riviera Group has continued on
at full pace by holding an official ‘soft-launch’ for The Riviera Jomtien
last month.
A significant amount of the ground floor space at Pattaya’s Central Beach
shopping mall was taken up to showcase a 1-bedroom condo known as the
“Monaco” unit, along with a French styled high-tea garden party open area.
Various live band acts, fortune tellers, games and general public
participation drew in the crowds for what was described by developer Winston
Gale as being “a sneak preview of the soon to be opened showrooms, which
will be located on site on 2nd Road, Jomtien.
Riviera Group’s Brand Ambassador, Metinee, Kingpayome, better known as
‘Lookked’, was joined by Pattaya Deputy Mayor Ronakit Ekasingh and Winston
Gale at a ceremony to welcome in the soft opening, which was attended by
many guests and potential buyers.
Riviera Group’s Brand
Ambassador, Metinee, Kingpayome, a.k.a. ‘Lookked’ strikes a glamorous pose
on The Riviera Jomtien show stand at Central Beach shopping mall, Pattaya.
The week-long exhibition also put on show a prize Mercedes SLK, with every
buyer entered into a lucky-draw to win the 3.5M THB car that is planned to
be given away towards the end of 2015.
Winston stated: “Our official formal project launch will be held on Saturday
24th January when we will have a large showroom opening party. This week’s
event is really our soft-opening and it’s a good way for us to demonstrate
to potential buyers the concept of the product early on. So far the feedback
has been tremendous.”
With over 50% of the Riviera Jomtien project sold already in the pre-launch
period, it has made it one of Pattaya’s leading projects currently on the
market.
The 46 storey 68,000sqm building will become one of Jomtien’s landmark
developments when finished and one of Pattaya’s largest by single building
scale alone: 1053 separate condominiums supported by 25 commercial units,
with over 80% of the residential units enjoying direct sea views.
For further information on The Riviera Jomtien, call Thor on 087-499-6551 or
Min on 081-577-0645
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Matrix and Nova join forces for Orient Jomtien
An artist’s rendering shows
the 526-unit Orient Jomtien Resort & Spa.
Two of Pattaya’s most active property developers, Matrix
Developments and Nova Group, recently announced they were joining forces for
the first time to develop The Orient Jomtien Resort & Spa, a 526-unit
freehold development.
The project will be comprised of three luxury low-rise condominium buildings
and, according to a statement issued by the companies, offer a “sensory-rich
atmosphere against a backdrop of colonial-inspired design.”
Project highlights will include fully furnished and fitted units, an
expansive swimming pool area, comprehensive security coverage systems, and
investment management services, helping investors rent out and maintain
their units.
Matrix Developments and Nova Group say they have also been able to arrange a
0 percent interest scheme on financing over the construction period, as well
as the ability to adjust payment terms to individually suit each buyer’s
needs.
Both companies have earned solid reputations in the Eastern Seaboard real
estate market as quality development firms. Matrix has a track record of
generating outstanding sales volumes in its core market and has gained
widespread industry recognition. Nova Group meanwhile is one of Pattaya’s
longest standing and most successful development and construction companies.
With twelve condo developments in its distinguished portfolio, it offers
customers luxury real estate at affordable prices.
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Phase 1 completed in style at Pure Sunset Beach
Developers of Pure Sunset Beach in Na Jomtien
celebrated completion of Phase 1 of the project with a lavish art & fashion
themed party on November 22.
Pure Sunset Beach, which classes itself as the only low-rise luxury
condominium in Na Jomtien, officially opened its first phase in grand style
last month. Hundreds of invited guests and media attended the November 22
launch party and had their senses dazzled by a lavish collection of art,
music and fashion, plus a most stunning sunset.
“The first time I experienced the magical moment of the sun setting on this
very beach, I instantly knew I wanted this project to be a masterpiece,”
said Nicolas Buchler, the architect behind the design of this real estate
project. “I was inspired to create architecture that is at one with nature
and allows those who reside here to truly feel the spirit of Tawan Ron
beach. Each building is designed to mimic the slope of the surrounding
hills, so each unit has a panoramic view of the sea. The units are spacious,
airy and comfortable. With the low-rise buildings, residents will truly be
able to feel the beach atmosphere,” he said.
Guests enjoy the lavish opening party on
November 22.
Buchler has designed many of the project’s features to be as eco-friendly as
possible, from its waste water management system, the rain water filter
system, LED light system, energy-efficient elevators from Japan, solar
powered lights and water heaters, designs which allow for less use of air
conditioners by allowing in natural breezes, heat insulation and awnings,
all of which incorporate many types of innovation that ultimately makes life
comfortable but is also environmentally-friendly. The project, say the
developers, is constructed to the highest European standards.
Architect Nicolas Buchler (left) and director of
marketing and sales Naparat Sihanatkathakul (right), the driving force
behind Pure Sunset Beach.
On display during the grand opening was an art exhibition by renowned artist
Anurak Tangsomboon plus a limited edition fashion collection from Vareenithi
Kanpaibool, designer and owner of Virithorn Boutique. Vareenithi said she
had derived inspiration for much of her “Sea Breeze” collection during her
first visit to Pure Sunset Beach. “Since the first time I came here, I was
inspired to design fabric patterns based on the waves, as if the waves were
literally rolling from the sea, into the beach, and then onto the fabric. I
chose the palette which gave movement to the fabric, which was used for our
beach ware,” she said.
As guests celebrated the official opening of building E, the last building
in the first phase of the project, Koh Mr. Saxman serenaded those in
attendance with his sultry jazz music, while upbeat songs were performed by
singer Joom Nareekrajang.
The development aims to be fully eco-friendly
with buildings designed to mimic the slope of the surrounding hills.
Prices at Pure Sunset Beach start from 120,000 – 210,000 baht per sqm. The
first phase includes a total of six buildings, with a combined total of 110
units, which are studios, one-bedrooms and penthouses ranging from 33sqm to
208sqm in size and 4.2 – 40 million baht in price, depending on the unit
size and location.
Special promotions are available for those reserving units priced at 17
million baht or above. They will receive a personalized 24k gold limited
edition iPhone 6 designed by Golden Dreams from Geneva, Switzerland.
For more information about Pure Sunset Beach, call Phonphot Sriphrachan
(Subbook) on 089-512-7982 or Email: [email protected].
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Pattaya eyes Pratamnak Hill for huge eco-tourism attraction
Tourists gather near Bali Hai. Part of the
Pratamnak Hill area that officials hope to turn into a huge eco-tourism
attraction is seen in the background.
Pattaya is considering turning a large section of
Pratamnak Hill into an ecological tourist attraction with parks, bike
routes, and scenic viewing areas.
Mayor Itthiphol Kunplome presided over the first of likely many hearings on
the “Thappraya Royal Park” project on Nov. 11 at the Season Hotel Pattaya.
The project will be debated in a series of meetings and, if approved, would
start development in 2016.
Kanchit Phuboonlab, project manager for Feel Green Design Co, which has been
hired by the city to write the feasibility study, said Pratamnak Hill, with
its green acreage and natural viewpoints, is an ideal place to develop into
a park attraction. However, he said, access to the prime areas has always
been the problem.
The city, he said, is a well-developed tourist resort, but has only one real
green area in the entire city: Pratamnak Hill. Undeveloped land there covers
both mounts in the area and over 285 rai, including the area near the
Tourist Police station that has already been converted into a park.
“Thappraya Royal Park” would feature tram tracks, cycling routes, walking
and wheelchair paths and viewpoints to overlook the city and bay.
Feel Green Design Co will develop studies on costs, benefits and
environmental impact. The public will be given several chances to offer
input at public hearings. If approved, the city will seek funds from the
national government to develop the eco-tourism attraction.
(By Jetsada Homklin/Pattaya Mail)
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Tulip Group to open
a unique new hotel in Pattaya
Centra Avenue Hotel Pattaya
aims to provide quality and affordable accommodation.
Luxury Pattaya property developer Tulip Group has
announced it will open its fourth property with Centara Hotels & Resorts in
December under the boutique brand Centra.
Centra Avenue Hotel Pattaya is centrally located behind Pattaya Second Road,
close to the Avenue shopping complex, and sits directly behind Tulip’s
luxury condo and hotel project Centara Avenue Residence & Suites.
The boutique development will offer some “firsts” not only for Pattaya but
for Thailand in general. The property will be Thailand’s first ever Kosher
hotel, with Kosher food being served as well as having an onsite synagogue,
which will cater for the ever growing tourist market from the Jewish
community holidaying in Pattaya.
The hotel offers a full restaurant, coffee shop, luxury appointed rooms,
marble walled lobby, rooftop swimming pool and gymnasium, and its central
location will be a main draw for holiday makers of all nationalities.
Tulip Group last year opened the 5-star Centara Grand Phratamnak Hotel and
will open Centara Avenue Hotel Pattaya in 2015, which is part of the Centara
Avenue Residence & Suites Condominium project, and the 5-start resort
property Centara Grand Jomtien Beach is also under construction.
“This property is our fourth property with Centara Hotels & Resorts and
continues our ongoing excellent business relationship together. We feel that
this hotel, which is suited to the more budget conscious traveler, offers
something completely different, with the onsite Kosher restaurant and
synagogue, which fills a gap for the ever growing Jewish community both
locally as well as those travelling to Pattaya for either business or
pleasure. It is a small property but with a big attitude and we have added a
lot of smart luxury features in order to give our guests the best guest
experience,” said Tulip Group Vice President Jason Payne
The Centra brand, as the contraction of the Centara name indicates, aims to
offer affordable hotels and resorts that provide a quality experience
designed to exceed expectations. Centra properties include spacious
accommodation with quality furnishing and fittings, at least one restaurant,
a swimming pool, and a fitness centre. All are located in a convenient
setting, with restaurants and shops nearby, and those in a seaside location
are within an easy walk of the beach.
For further information visit: http://tulipgroup.co.th.
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Magnolia wins for ‘Best Architectural Design’ at SE Asia Property Awards
Thanawan Chaiwatana, Managing Director of
Magnolia Quality Development Corporation Ltd. (left) and Special
Architecture and Design Consultant Surawat Hanthawichai (right) receive the
2014 design award from Heart Media’s Executive Director - Business
Development, Gael Burlot (2nd left) and Ensign Media’s International
Distribution Manager Patravadee Sirapanthakarn.
Magnolia Quality Development Corporation Ltd. was the
recipient of the top award in the ‘Best Architectural Design’ category for
its Magnolias Ratchadamri Boulevard project at the Southeast Asia Property
Awards 2014.
A new landmark on Ratchadamri Road in the heart of Bangkok, Magnolias
Ratchadamri Boulevard is a high-grade residential project that incorporates
a unique magnolia flower petal designed facade that enfolds the structure.
Incorporating traditional Thai architecture, this serves as a sunshade,
creating an impressive appearance while affording residents a spectacular
view of the city in all directions.
The unique design of Magnolias
Ratchadamri Boulevard proved to be a hit with the judging panel.
Representing Magnolia at the award presentation ceremony
held at the Shangri-La Hotel in Singapore on October 16 were Managing
Director Thanawan Chaiwatana and Special Architecture and Design Consultant
Surawat Hanthawichai.
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SE Asia’s best celebrated at 2014 Property Awards
Recipients of awards at the 2014 South East Asia
Property Awards gala dinner pose for a group photo at the Shangri-La Hotel
in Singapore, October 16.
The region’s leading figures in real estate, architecture and design came
together on 16 October to celebrate the Winners and Highly Commended at the
fourth annual South East Asia Property Awards 2014.
After more than six months of comprehensive deliberation and site visits
across South East Asia, the most prestigious industry accolades were given
out at a lavish Gala Dinner and presentation ceremony held at the Shangri-La
Hotel in Singapore.
Ensign Media, organisers of the Awards and publishers of industry-leading
Property Report Magazine, presented a total of 32 awards to recognise the
best developers, developments, design and real estate personality of the
region, covering Indonesia, the Philippines, Malaysia, Singapore, Thailand
and Vietnam.
Point Yamu Villas in Phuket by COMO Hotels &
Resorts received the honour for Best Villa Development (South East Asia).
“We began 2014 in Manila, with the Philippines Property Awards on August 19
where we presented 17 awards to 14 companies. After that we moved onto the
Kuala Lumpur on August 26 where we presented 19 awards to 13 developers at
the South East Asia Property Awards (Malaysia). Finally, in Bangkok on
September 11 at the Thailand Property Awards we presented 23 awards to 19
developers,” said Terry Blackburn, CEO at Ensign Media.
“In total, from our regional events we have presented 59 awards to 46
developers. These represent the finest projects and developers in ASEAN. All
the winners of those awards alongside entrants from Singapore, Vietnam and
Indonesia competed here in Singapore and the 32 winners therefore truly do
represent the best of the best in South East Asia. They should all be
immensely proud of their achievement,” he said.
Taking the top honour of the evening was the Philippines’ Ayala Land Inc,
which was named Best Developer (South East Asia), beating out Major
Development PCL and Sunway Integrated Properties—previously announced as
Best Developer Winners in Thailand and Malaysia—and Vingroup Joint Stock
Company, Sinar Mas Land, and Frasers Centrepoint Ltd, the freshly named Best
Developer Winners for Vietnam, Indonesia and Singapore, respectively.
Keppel Land’s International Financial Centre
Tower 2 in Jakarta’s business district took the Best Green Development
award.
Joining the ranks of previously named companies from the Philippines,
Malaysia and Thailand as the best property companies in the region with
exemplary values in corporate social responsibility, Special Recognition in
CSR awards were presented to Singapore’s CapitaLand Limited, Indonesia’s PT.
Lippo Karawaci Tbk, and Vietnam’s VinaCapital.
The other awards that were handed out were for Best Condo Developments in
Singapore, Malaysia, Thailand, Vietnam and the Philippines; the Best Housing
Developments in Singapore, Malaysia and the Philippines; and Best
Residential Development in Indonesia. The Best Commercial Developments in
Indonesia and the Philippines were also named, as well as the Best Villa
Development in Thailand and the Best Villa Development in Vietnam.
Repeating their triumphs at this year’s Thailand Property Awards, Point Yamu
Villas by COMO Hotels & Resorts received the honour for Best Villa
Development (South East Asia); The Ritz-Carlton Residences, Bangkok at
MahaNakhon by Pace Development Corporation PLC was voted Best Condo
Development (South East Asia); and AIA Capital Center by AIA Company Limited
won the Best Commercial Development (South East Asia) award.
Recognising the increasing importance of green and sustainable developments
in Southeast Asia, the judges named International Financial Centre Tower 2
Jakarta by PT Keppel Land Investama as Winner of the Best Green Development
award, beating out tough competition from CIBIS Tower 9 at CIBIS Business
Park by PT. Bhumyamca Sekawan, and Ecopark Vietnam by Viet Hung Urban
Development & Investment Company (VIHAJICO).
In addition to the aforementioned developer and development awards, the
South East Asia Property Awards also celebrated the most outstanding
architectural and interior designs across the region, via the Best
Residential Architectural Design, Best Commercial Architectural Design, Best
Landscape Architectural Design, Best Hotel Architectural Design, and Best
Residential Interior Design awards.
Meanwhile, the editorial team at Property Report Magazine selected
Chinese-Indonesian tycoon James Riady, CEO of the Lippo Group, as the
recipient of the South East Asia Real Estate Personality of the Year Award
2014, in recognition of his significant and positive influence on the
region’s emerging property markets.
Started in Thailand in 2006, the Asia Property Awards series will expand
next year to include inaugural events in Vietnam, Myanmar and Indonesia.
“In 2015 we will run debut events in Ho Chi Minh City, Yangon and Jakarta,
as well as further awards in Thailand, Singapore, Malaysia and the
Philippines,” Blackburn said. “So the next Awards programme truly will be
our most comprehensive ever. Throughout the awards expansion the goal has
remained the same—to become the benchmark for the recognition of high
quality real estate in ASEAN.”
The Ritz-Carlton Residences, Bangkok at
MahaNakhon was voted Best Condo Development (South East Asia).
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888 Villas showcases luxury
plans for central Pattaya
Bandit Siritanyok, CEO of 888 Villas (white
jacket) is congratulated by members of Pattaya City council during the
pre-launch agency day.
Backers of the 888 Villas project recently hosted a
“pre-launch agency day” to show off the 73-home residential development.
Mayor Itthiphol Kunplome joined 888 Villas CEO Banditt Siritanyok at the
company’s sales office on Soi Bongkot No. 8. The agency day, held November
8, was aimed at publicizing the project by 888 Land and Development Co. of
the Suttangruk Group.
The 888 Villas project is located on more than 12 rai of land in central
Pattaya with 47% of the property left as open space. It is designed under a
concept called “refined eco-living and sustainable luxury, blending
lifestyle with nature.” Solar power plays a big part of the homes and the
area will be full of green areas and large trees.
A scale model shows a typical
design of the project’s town homes.
Plans call for 73 European-style townhomes of three or
four floors. Construction is set to begin in 2015 and last about a year.
The complex will include a community clubhouse filled with gym, lounge,
swimming pool, sauna, steam room, playground, library, a rooftop activity
lawn area and electronic security. The developers will also provide
transportation to and from the airport for residents.
Three-storey townhomes will have four bedrooms and baths in 350 sq. meters
of living space along with two parking spaces. Prices start at 17 million
baht.
The four-storey townhouses will have four bedrooms and five baths, 480 sq.
meters of internal accommodation and two parking spots. Prices start at 25
million baht.
For more information, call 038-488-884.
(By Urasin Khantaraphan/PM)
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TICON earns Euromoney Developer Award
Virapan Pulges, Managing Director of TICON.
TICON Industrial Connection Public Company Limited,
(TICON), a leading developer of high quality factories for rent, has been
named as Thailand’s second best real estate developer for 2014 by Euromoney,
Britain’s leading economic and financial magazine.
The vote resulted from surveys among real estate companies in Thailand
conducted annually by Euromoney Magazine.
Virapan Pulges, Managing Director of TICON expressed his pride at the award,
granted to TICON. “This year’s vote confirms TICON’s leadership as a
developer of high quality ready built factories. It also reflects
recognition among companies in Thailand’s real estate industry of TICON’s
success as an industrial estate developer,” he said.
The company currently has ready built factories in 16 industrial estates
nationwide and has a total of 1,046,000 sq m of factory space under
management.
Ananda posts strong 3rd quarter results
Chanond Ruangkritya, CEO of
Ananda Development PCL.
Real estate developer Ananda Development PCL recently
announced 3rd quarter revenues up 80% from the same quarter last year and
profits of 225 million baht for the quarter, up from a loss of 96 million in
Q3 2013. It also announced that its recent launches had proved to be very
successful with two projects completely sold out.
Revenue for the 3rd quarter was 2,024 million, which prompted the company to
raise its full year revenue target to 10,032 million baht, an increase of
11% from its previous guidance of 9,070 million due to better than expected
transfers of existing projects and improved visibility that two projects
will finish on time and begin transfer in the 4th quarter.
During the third quarter the company launched four new condominiums close to
mass transit stations: Ashton Asoke, Ideo Q Siam-Ratchathewi, IdeoMobi
Sukhumvit Eastgate, and IdeoMobiWongsawang Interchange, with a combined
project value of almost 15 billion baht. Both the 6.7B baht Ashton Asoke
project and the 3.8B baht Ideo Q Siam – Ratchathewi were 100% sold out at
launch with demand exceeding three times the available units for the Ashton
Asoke project in particular.
The suburban IdeoMobiWongsawang Interchange and IdeoMobi Sukhumvit Eastgate
also saw very strong demand with take up rates at launch of 63% and 40%
respectively
An artist’s rendering shows
Ananda Development’s Ashton Asoke project (left) in Bangkok.
Commenting on the success of the recent launches, Ted
Thirapatana, Chief Business Development Officer for Ananda, stated, “The
strong sales rate for our recent launches and our ability to raise prices
shows that well-located projects are in demand from Thai consumers. We will
be able to offer more of these kinds of projects to the public next year and
expect our sales rates to remain strong.”
Chanond Ruangkritya, CEO of Ananda, added, “We are delighted to have
achieved such strong results in the quarter and in particular that our new
projects were so well received. Ananda is the current leader in Bangkok mass
transit living and we believe we will end the year the second biggest seller
of condominiums in the country and next year we hope to achieve market
leadership.”
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CPN reveals 8 new retail projects with a value of 53B baht
Central Westgate will be one
of eight new retail shopping developments opened by CPN over the next 3
years.
Central Pattana Public Company Limited (CPN) is hoping to
help push Thailand further along the line into becoming the regional
shopping hub of ASEAN after last month announcing eight new landmark
shopping destination projects.
With a total value of over 53 billion baht, the eight developments include
six new shopping hubs: Central WestGate, Central Plaza Rayong, Central
Festival East Ville, Central Plaza Nakhon Si Thammarat, Central Plaza Nakhon
Ratchasima, and Central Phuket shopping centers plus the newly transformed
Central Plaza Pinklao and Central Plaza Bangna. The new projects will
increase CPN’s nationwide portfolio to 31 shopping malls with a total retail
space of over 7 million square meters.
Preecha Ekkunagul, President and CEO of CPN, stated: “Over the past 34
years, CPN has been continuously developing the foundation of retail
business in Thailand to reach global standards and creating new experiences
for the modern lifestyle. Our aim is to take Thailand towards the goal of
becoming the ASEAN regional shopping hub and become a ‘shopping paradise’
for both Thai people and tourists from around the world. These new projects
will emphasize the eminence of CPN as a market leader of retail property
development in Thailand and the region.”
The eight retail developments are due to open between 2015 and 2017.
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The Urban Property announces South Pattaya project
Saksit Teerapornsathanon (2nd
left) and Suriwat Rermkitkarn (3rd left), deputy managing directors of the
Urban Property, pose for a photo during the Aeras Condominium ‘thank-you’
party on November 25.
Developers behind the Aeras Condominium thanked early
buyers of their Jomtien Beach project with a prize-filled party on November
25.
Sompop Wanitsaenee, managing director of The Urban Property, and deputy
managing directors Saksitti Theerapornsathan and Suriwat Rermkitkarn hosted
the soiree a month after breaking ground on the complex spread over three
rai of land. The main tower of Aeras Condominium will reach 38 floors and
contain 304 units. A second four-storey building will be constructed
adjacent to the tower between Jomtien sois 17 and 18.
The party offered food, drinks and prize drawings, including the grand prize
of a gold necklace.
Sompop used the occasion to announce the company’s new development, The
Urban Attitude, near the intersection of Pattaya South and Third roads off
Soi 16. The project will take 18 month to complete with prices ranging from
1.7 million to 2.5 million baht. It is now open for reservation.
Find out more information see TheUrban-Attitude.com.
(By Jetsada Homklin/Pattaya Mail)
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Siamese Hotel embraces
social-media fans
(L-R) Poramet Ngampichet,
former MP of Pak Palangchon Region 7, Chris Cherdsuriya, Managing Director
of the Siamese Hotel, and Bangjong Bantoonprayuk, deputy host of Pattaya
pose for a photo at the pre-opening ‘Click, Like & Share’ party held at the
Siamese Hotel on Nov. 15.
Owners of the new Siamese Hotel embraced their
social-media devotees by hosting a “Click, Like & Share” party recently to
introduce the Naklua resort to its Facebook fans.
Chris Cherdsuriya, manager of the hotel on Third Road near Soi Potisan,
welcomed city officials and former MPs to the pre-opening party Nov. 15,
along with those who’d followed the development of the hotel on the Facebook
website.
Cherdsuriya said the new hotel has four-star ambitions and 300 million baht
was spent on the property. Its 123 rooms are decorated in classic and
traditional Thai styles with an eye toward the Asian market.
Facebook users who clicked “Like” on the hotel’s page got a chance to see
the Siamese’s rooms and facilities before it opens to the public, including
its swimming pool, fitness center and conference room capable of hosting 250
people.
The Siamese Hotel is offering pre-opening booking specials of up to 50
percent off rooms, 10 percent off food and beverage and membership cards
offering another 15 percent off.
For more information, call 038-0425-668-72.
(By Jetsada Homklin/Pattaya Mail)
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Rising demand keeps Bali tourism ahead of the curve
Bali’s hotels are seeing increased demand despite broader
concerns about what seems to be an endless stream of new rooms coming
online. In a new report released by leading hospitality firms Horwath HTL
and C9 Hotelworks, figures show the overseas arrivals though August of this
year surged 14% year-on-year. By the end of 2014 international passenger
arrivals though Ngurah Rai Airport are expected to eclipse a record 3.8
million.
Speaking on the trend, Matt Gebbie of Horwath HTL said: “Bali hotels in many
cases are weathering the storm of new supply, admirably holding rates and
taking a small hit on occupancy. Individualism, management and product
quality at every price point are more important than ever.”
While overseas sentiment remains strong, the base tourism market for Bali
remains that of South East Asia’s largest economy - Indonesia. In 2012 and
2013 approximately 68% of visitor arrivals were from the domestic sector.
While the country hosted 8.8 million international travelers last year, on a
far more compelling scale were domestic hotel stays, which exceeded 200
million.
Viewing domestic consumption as a lead economic indicator has also pushed
through to the island’ property sector.
C9 Hotelworks Managing Director Bill Barnett points out, “Over 80% of resort
residential sales in the market are to Indonesian buyers. Developers of
hotel branded residences have picked up that the mix of yield-motivated
investment buyers are also driven by the desire of personal usage in
hospitality projects, hence the robust pipeline of condominium hotel
projects thoughout South Bali.
“Moving into 2015, Bali is looking at a mass-market strategy backed by the
Indonesian government announcing visa waivers for five countries - China,
Japan, Russia, South Korea and Australia,” Barnett said. “It’s a pointed
market pivot as it recognizes the potential of both the island’s core
business and the leading emerging markets. At mid-year 2014 over 90% of
visitors to Bali came from Asia Pacific source markets. While the Eastern
European initiative is clearly aimed to take a share of Thailand’s
substantial Russian travel trade.”
As for the future of Bali, Barnett points out, “There is an expanding halo
effect from the existing critical mass of destination visitors and recently
improved infrastructure that is now expanding into Lombok, the Gili Island,
Sumba and Flores. Not only is tourism seeing expanded demand in these areas,
but property developers are starting to recognize that opportunities are on
the rise to tap into a Greater Bali economic picture.”
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PACE goes global with 4.5B baht deal for Dean DeLuca
Sorapoj Techakraisri, Chief
Executive Officer of PACE Development Corporation plc.
Bangkok based real estate developer, PACE Development
Corporation plc (PACE) recently announced that it had entered into an
agreement for the purchase of one of the world’s most iconic gourmet food
brands, Dean & DeLuca, as well as its global business and assets for US$ 140
million (approximately 4,550 million baht) from Dean & DeLuca Holdings, Inc.
The move aims to boost PACE’s capabilities as a developer of super-premium
mixed use developments as well as fuel rapid global growth of the Dean &
DeLuca gourmet food and beverage retailing business.
The purchase includes the supply chain and operations of eleven outlets and
two commissaries in the United States as well as the licensing agreements in
31 international locations, among them four outlets in Thailand, as well as
outlets in Japan, Singapore, South Korea, Kuwait, Qatar, and the United Arab
Emirates.
Sorapoj Techakraisri, Chief Executive Officer of PACE, commented, “We aim to
capitalise on the global convergence of super-premium mixed-use property
development and lifestyle brands. The high margins in the business of
premium property development of the future will be in offering customers a
lifestyle – not just bricks and mortar. People want a total delivered
environment where they feel good about living. It’s why we must be able to
bring into our properties some of the world’s best lifestyle brands. It’s a
proven model already being successfully deployed by thought-leaders in
property and retail property development.”
Sorapoj said that the iconic Dean & DeLuca brand also has extraordinary
potential for rapid growth globally: “We expect to have stores numbering in
the hundreds within only two years, up from the current 42 stores, and to
increase our global footprint from eight countries at present to more than
15 countries in the same time, primarily through licensing and company’s own
store investment,” he said, adding that, “This (Dean and DeLuca) is one of
the world’s great brands and has an equity that is as distinct as it is
strong, standing for the finest food and food-related products, while the
business has a well-established track record of almost 40 years.”
PACE already has a portfolio of joint endeavours with premium global brands
in lifestyle and specialty retailing including fashion icon Vogue Lounge,
multiple Michelin-star gourmet dining L’Atelier de Joël Robuchon, and PACE’s
Ritz-Carlton Residences, which was recently presented the ‘Best Condominium
Development - South East Asia’ Award at the 2014 South East Asia Property
Awards.”
Sorapoj noted that the approach of the ASEAN Economic Community created
major opportunities for Thailand-based companies and that he firmly believed
companies must go global to protect their business from the greater regional
competition that will come with the arrival of the AEC.
“The Dean & DeLuca acquisition strengthens us by generating another
sustainable revenue stream for PACE that is less cyclical than property
development and less prone to external economic shocks,” he said, adding
that the global acquisition of the Dean & DeLuca business would also boosts
PACE’s ability to attract and retain the best talent by raising the ceiling
on staff career growth prospects within PACE.
The funding for the acquisition is from PACE internal cash-flow as well as a
loan from Siam Commercial Bank plc.
In a related development, PACE also advised that it will increase its
ownership of the MahaNakhon mixed-use development in Bangkok to 100 percent
as well as its related businesses through a share swap arrangement with
Industrial Buildings Corporation (IBC). IBC will be taking a 20.9% holding
in PACE Development Corporation plc in exchange for its holdings in
MahaNakhon and related businesses.
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New beach bar is a
‘Breeze’ for Tulip Group
Breeze Beach Club opened its
doors on November 20.
Pattaya is certainly famous for its entertainment and
bars but many follow the same trend, be it beer bars, family pubs or hotel
bars.
Last month on November 20 a brand new concept was launched: The Breeze Beach
Club which aims to break the mould and is the latest addition to the 5-star
luxury hotel Centara Grand Phratamnak, yet has an identity all of its own.
Breeze is located opposite the hotel with direct beach access for hotel
guests and is the perfect place to relax with a drink and watch the sunset.
The bar attains the same high standards of décor that Centara Grand
Phratamnak has become famous for and features B&B Italia furniture.
Breeze offers direct access to the beach, which is ideal for the hotel
residents, but in essence Breeze has been created not just to give
convenience to hotel guests but also as a relaxing hangout for passing beach
traffic and a place to cool off with a refreshing drink and tasty snack.
Breeze offers signature cocktails and beers at local prices, daily BBQ
specials and is open from 10 a.m. everyday till late and can also be booked
for private events.
This new bar is a worthy edition to the ever-growing portfolio for the Tulip
Group who will complete the second building of Centara Grand Phratamnak
within the next few months.
Breeze Beach Club is situated opposite the Centara Grand Phratamnak at the
bottom of soi 5 off of Pratamnak Road.
(By Paul Strachan/Pattaya Mail)
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Banglamung probes public-land encroachment on Koh Larn
Banglamung District Chief
Sakchai Taengho is investigating how developers of this hotel and restaurant
under construction on Koh Larn’s Tawaen Beach gained approval for their
project which is being built on public land.
Banglamung District officials are investigating how
developers of a hotel and restaurant under construction on Koh Larn’s Tawaen
Beach gained approval for their project which is being built illegally on
public land.
District Chief Sakchai Taengho led land and forestry officials to inspect
the building site next to the Pattaya administrative office on the island
Nov. 12. They found the hotel and restaurant being built on 14 rai of land
at the edge of a steep hillside was 70 percent complete and fenced off.
A stop-work notice had been posted on the fence, but ignored by contractors
until Sakchai showed up.
Representatives from Pummari Construction Ltd. cooperated and stopped work,
but produced Land Department documentation claiming the development had been
legally approved.
Sakchai, however, confirmed they were not. The land is public and cannot be
leased or sold for private use, he said.
The district chief said an investigation will be launched to find out
whether the documents were genuine and, if they are, who authorized and
approved them. The investigation should take no more than 30 days, he said.
(By Nopniwat Krailerg & Jetsada Homklin / Pattaya Mail)
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