An artist’s impression of the
two-tower Lofts Southshore development.
Despite the current global economic slowdown, luxury real
estate developer Raimon Land remains committed to the long-term potential of the
Thai property market with the launch of the 417-unit second tower at The Lofts
Southshore in Pattaya.
The two-tower development brings Thailand’s well-established “The Lofts”
lifestyle concept of providing a quality modern urban design and functionality
at an affordable price to the Kingdom’s most popular beach resort.
The Lofts Southshore’s central location on the Pratamnak hillside offers an
elevated platform, providing units with 360 degree views across Pattaya Bay
around to Jomtien Beach.
Raimon Land Chief Executive Officer, Nigel Cornick, acknowledged many developers
in Thailand have been hit by financial hardships, which places several projects’
completion in doubt. However, Raimon Land views theses new economic conditions
as an opportunity to extend value to its customers.
“Thailand has obviously had an interesting end to the year, and the global
economy’s slide has further compounded issues, but Raimon Land maintains its
long-term support for the Thai property industry, particularly on the Eastern
Seaboard,” he said.
“We find there is still demand for quality condominiums in Pattaya if investors
can feel 100% confident they will be constructed, finished and handed over. The
launch of the second tower at The Lofts Southshore provides buyers with a
competitive option where the quality of materials can be verified by inspecting
our show suites.”
Mr. Cornick added considerable savings are being negotiated with potential
construction contractors as a result of recent falls in commodity prices and a
more competitive construction industry, which will be passed on to buyers.
“We have managed to optimise value in the second tower, while maintaining the
original specifications and the program is still on track for the commencement
of piling by mid-2009,” he said.
Prices for the 46-storey second tower start at THB50,000 per square metre (psm)
or about THB 1.9 million for a studio. The one-, two- and three-bedroom
residences range from 58-169sqm. Duplexes are available as are spacious
259-295sqm penthouses with private gardens.
Buyers signed up for 61 of the units released during the July 17 launch of
floors 6-26 of the 37-floor first tower, for a total sales value of THB 731.81
million.
The Lofts Southshore sits in the centre of Pattaya’s rise as a top Asian
lifestyle destination due to its diverse lifestyle options, modern
infrastructure and ideal location, just 90 minutes from Bangkok’s new
international airport.
The complex’s Club Southshore will provide residents with first class amenities
and services such as a fully equipped fitness centre, a variety of swimming
pools and management offices.
The off-site choice of leisure activities includes more than 20 world-class golf
courses less than 75 minutes from Central Pattaya and a growing yachting scene
supported by Raimon Land, whose racing yacht The Lofts Southshore won the HM The
King’s Platu Coronation Cup during the 2008 Top of the Gulf Regatta.
The Lofts Southshore is due for completion in 2011.
