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The Lofts Southshore’s second tower launch reflects continuing demand for affordable condos in Thailand

Ocean’s Edge topping out complete

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The Lofts Southshore’s second tower launch reflects continuing demand for affordable condos in Thailand

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.

Ocean’s Edge topping out complete

Ocean’s Edge Directors, Wim Scheggetman (7th left) and Andrew Neely (6th left) celebrate with the project team and the sub-contractors at the roof top of the four Ocean’s Edge buildings after the completion of the major structural work on site.

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