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First Cartoon Network Water Park to open near Pattaya

An artist’s rendering of the Cartoon Network Amazone water park, now under development in Thailand. (Photo courtesy Cartoon Network)

The world’s first Cartoon Network Water Park will be built on the Eastern Seaboard of Thailand and is expected to attract around 800,000 local and foreign tourists per year.

Turner Broadcasting System Asia Pacific, a subsidiary of one of the world’s largest media companies, Time Warner, has announced its plan to construct the large-scale water park in Bang Saray municipality in Sattahip district. Built at a cost of 1 billion baht (US$32 million) under the concept of “Cartoon Network AMAZONE”, the water park will feature the atmosphere of the Amazon Rainforest and popular cartoons characters, such as Ben 10, the Powerpuff Girls, Johnny Bravo and the Amazing World of Gumball. The project is expected to be launched at the beginning of 2013.

Bang Saray has been chosen as the ideal site given that Thailand’s weather is suitable for a water park project and the area is popular with tourists, many drawn to the coastal city of Pattaya just 15mins away and only 90 minutes from Suvarnabhumi airport. Attractions in the park will include a gigantic wave pool, speed-racing slides, rafting, and the world’s largest interactive water fortress.

“We are very proud to have Thailand as the spectacular backdrop for the world’s first Cartoon Network-themed waterpark. Thailand’s reputation as the Land of Smiles and perfect weather will ensure a memorable visit for guests of all ages.” said Sunny Saha, Senior Vice President and Managing Director, Turner Broadcasting System Asia Pacific, Inc.

“Imagine all of Cartoon Network’s dynamic, quirky and hilarious original characters grabbing their surfboards and taking over the world’s coolest water park. There will be something amazing for everyone - from thrill-seekers who love a huge vertical drop to younger kids who are happy to splash about in a giant wave pool,” he added.

The project is being developed in conjunction with Amazon Falls, an attractions and resorts developer in Thailand. The first phase of construction is already under way. Once completed, the water park will cover an area of 35 rais.

Cartoon Network is a world famous cartoon channel, especially in the Asia-Pacific region. The Cartoon Network channel is viewed by more than 63 million households while its website records a monthly page view of 5 million. (Source NNT)



5555 - A lucky number for Atlantis owners

In Thai the number five is pronounced ‘ha’, so 5555 should be a good omen for a lot of fun at the Atlantis ‘1 Million Baht Give Away Party’, which is scheduled for 5th May 2555, (2012) - 2555, being the Thai calendar year.

Anyone who knows both Thai and Chinese culture will understand the importance of dates to people from this part of the world, who very often organize business meetings, product launches and even deliveries around the lucky days according to the advice from monks and the stars etc.

So it comes as no surprise that with the Atlantis project due to begin building in May, and the sales almost completed by then, that this day, 5th May, was chosen to celebrate with a lavish party at Centara Grand Mirage Resort.

Artist’s renderings of the Atlantis Condominium.

Everyone who buys a unit in Atlantis before the 5th May 2012 will have a chance of winning one of the great prizes on offer, the main prize being a Ford Fiesta Sport Special Edition, worth 720,000 baht. There are also three different Honda motorbikes, some Apple iPads, Samsung flat screen TV’s, gift vouches to use at Centara Grand Mirage Resort, and quality bottles of wine to be won.

Atlantis developers, Blue Sky have promised a great evening with the fun beginning at Centara at about 7 p.m. There will be entertainment and music provided throughout the evening.

Atlantis Condo Resort Pattaya sales office opened in October 2011 and over 900 of the 1,038 units have been sold in just 6 months. The initial construction starts in April with the first of the concrete foundations due to be going in during May.

Spokesman for the project, Marketing Manager, Charlie Warner said, “A combination of good location close to the beach, together with amazing onsite facilities, excellent design and competitive pricing and payment plans has made this project a very attractive proposition for both Thai and foreign buyers”.

Atlantis unit prices start from 1.3 million baht for 34.5sqm one bedroom units, up to 4.9 million for a 69sqm, 2 bedroom unit; all fully furnished. Facilities include a lagoon swimming pool featuring a full size wooden galleon that is the clubhouse and sundeck plus five Jacuzzis, waterslides, children’s submarine playground, a huge waterfall and wooden footbridge across the 2,600sqm pool.



Variety Hotels launches a new boutique property in Phuket

Earlier last month Variety Hotels announced the opening of Narry Hotel Patong, a 44-room boutique hotel located in the heart of Phuket. Situated in the lively entertainment district of Patong and just a minute’s walk to Patong beach, the hotel is literally surrounded by shopping, restaurants and bars, as well as a variety of entertainment venues.

The hotel itself offers a modern design with 44 rooms ranging in size from 22-58 square meters, with categories from standard rooms all the way up to 2-bedroom apartments for both short term and long-stay guests. Each guest room incorporates the use of bright colors and optimizes space with an open style layout.

In addition, a sister hotel, the Narry Hotel Nana, will be opening in the heart of Bangkok in mid-2012. Located on Sukhumvit Soi 11/1 and just a minute’s walk from the Nana BTS Sky Train station, the hotel will offer 52 rooms with amenities similar to Narry Hotel Phuket.

Both properties are represented by Variety Hotels, a boutique hotel company based out of Bangkok. Variety hotels, coupled with its parent company, The Unique Collection of Hotels & Resorts, represents 17 boutique hotels and resorts throughout Thailand in destinations such as Bangkok, Phuket, Koh Samui, Chiang Mai, Hua Hin, Krabi, and others. The core mission of the company is to offer its guests unique experiences in unique destinations, while highlighting the culture, charms, history and customs of the local region.



Ombudsman says over 100 million rai of land owned by foreign nationals

The Senate Standing Committee on Economy, Commerce and Industry has held a seminar on foreign property ownership in Thailand while citing the growing number of Thais holding lands on behalf of foreign nationals as its main concern.

At the Senate committee’s seminar, which took place at Government House, Ombudsman Sriracha Charoenpanich revealed two main concerns threatening national security – the first being drug abuse, which is an issue undermining the productivity of the nation’s human resources in the long run, and the second being the rising trend of foreign land ownership through Thai nominees.

According to reports, one-third of properties in Thailand, estimated to cover 100 million rai of land, are secretly owned by foreign nationals. Mr Sriracha said the illegal acquisition of land through loopholes in the law has long been practiced as it can increase foreign investments and stimulate the economy.

Due to the 1997 economic crisis and the subsequent downturn in local property market, the law was amended so that foreigners with a capital of at least 1 million dollars can obtain a special right to own lands. The Ombudsman elaborated that 90 percent of beach-front properties in Rayong, Prachuap Khiri Khan and Chon Buri now belong to foreign investors.

He said that foreign land ownership can be achieved through various means, such as marriage with Thai nationals and establishment of a domestic company. Legally, the total foreign ownership of a company cannot exceed 49%, but in practice, it is often found that more than 51 percent of the shares belong to Thai nominees appointed by foreigners.

Mr Sriracha thus recommended an amendment to the law controlling foreign real estate ownership as well as an increase in property tax to drive up the use and the value of land. He also added that collaboration between the Anti-Money Laundering Office and the Department of Special Investigation is needed to solve the issue in a sustainable manner. (NNT)



Nominations now open for Thailand Property Awards 2012

Nominations are now being accepted for the 2012 Thailand Property Awards, regarded as the kingdom’s largest and most prestigious annual real estate event.

The seventh edition of Thailand Property Awards introduces seven new categories – five in agent awards and new additions in the Eastern Seaboard and Phuket, with “Best Boutique Condo” categories. The judging criteria for the new agent awards will also include agents’ online presence and marketing efforts.

“The new additions are a recognition that the property market in Thailand is continually expanding and diversifying,” said Terry Blackburn, CEO of Ensign Media, the organisers of the event. “The range of new projects and developments in various locations around the country is setting new standards. We have extended the awards categories to ensure that companies in every sector are given the opportunity to be recognised for their achievements and levels of quality.”

The gala ceremony and dinner, which last year attracted over 550 guests and was attended by Thailand’s Deputy Minister of Finance –Viroon Tejapaibul, will be held on October 13th, 2012, at the Dusit Thani Hotel in Bangkok, during which this year’s winners will be announced.

Nominations close on April 18, 2012. Nominations are welcome from members of the public as well as from those within the industry To nominate and view the criteria for each award category, please visit www.thailandpropertyawards.com.



Matrix opens ‘Art on the Hill’ showroom; announces new project in Pattaya

The Matrix Development Company is seldom far from the headlines when it comes to new development projects in Pattaya, and the company recently had the pleasure in opening to the public its showroom for the unique ‘Art on the Hill’ development on Pratamnak Hill.

Matrix drew on post-modern art influences when they created this new 159-unit project and the company, which recently landed a gold medal from the Overseas Property Professionals organization in London for designing quality projects with advanced materials, has created a condominium complex featuring white backgrounds with black vertical and horizontal lines and multicolored designs.

Each of the seven unit designs also reflect post-modernistic touches, from the choice of available furniture to innovative use of space. Matrix placed 104 of the 159 units up for pre-sale and said that as of 1st March 99 of those condos had already sold.

The Art on the Hill show suite is now open on Pratamnak Hill, Soi 5.

Located on Pratamnak Soi 5, the location is peaceful with a swimming pool on the eighth floor. The showroom is now open daily for potential buyers and those interested in finding out what ‘Art on the Hill’ has to offer.

Following on fast on the heels of ‘Art on the Hill’, Matrix is also about to begin construction of its Amazon and Vision projects and has recently announced a new development in the heart of Pattaya, the ‘City Center Pattaya’, which aims to provide high class but affordable living accommodation for those wishing to reside closer to the city confines, a market segment where currently, demand far exceeds supply. The development will feature three low-rise buildings with a large swimming pool and lap pool accentuated by palm trees to give a tropical feel. Units can be purchased separately or can be combined at no extra cost.

We hope to provide more information on ‘City Center Pattaya’ in forthcoming editions of this publication and in the meantime, interested parties can go to website: www.matrix-developments.com.

(By Vittaya Yoondorn/Pattaya Mail)



Chulalongkorn University to spend THB1.8 billion on new mall

Chulalongkorn University is prepared to demolish Lido Theatre and transform the area into a new shopping mall.

According to the university’s Property Management Office, an area of around 7-8 rai surrounding Lido Theatre will be transformed into a new shopping mall after leases granted to Lido and other shops in the area expire in 2013. The university plans the construction of the new mall to begin in early 2014.

Currently the university is developing the Siam Square One project which is located next to Lido. The project is expected to finish in December next year.

The Property Management Office said that the university’s land plot on Rama 1 Road is the prime spot for shopping malls. After Siam Theatre was burned down during the political unrest, the university has changed it to a shopping complex under the Siam Square One project. The planned transformation of Lido Theatre and its surrounding area including the adjacent Scala Theatre constitutes the second phase of development of this land plot. (NNT)



Thailand, China agree joint working committee on high speed rail development

Thailand and China have agreed to establish a joint working committee to implement a high speed rail project after the two countries signed a Memorandum of Understanding (MoU) recently to facilitate transport development in the region.

China wants to develop a railway route connecting Kunming in southern China with the Lao PDR and Thailand, as regional economies are growing constantly and a large number of Chinese visit Thailand, said Deputy Transport Minister Chatt Kuldilok, who oversees the State Railways of Thailand (SRT).

In the talks, the two sides agreed to set up a working committee to implement the project.

China announced its readiness to support surveying and design and provide technical assistance after the Thai government stated its clear policy to develop the first Bangkok-Chiang Mai high speed rail route.

According to the MoU, there is no obligation that only China can invest in the Thai high speed rail project, and no commitment that Thailand must use technology from China, said minister Kuldilok,

Thailand will begin a feasibility study, expected to take 3 to 4 months as the SRT has already initial information. The design process will take another six months. The ministry of transport plans to start construction within this year.

The Transport Ministry is discussing with the Finance Ministry about investment needed for the project. Finance ministry officials will determine whether the ministry will seek loans by issuing bonds or overseas loans with low or zero interest rates. (MCOT)



Century Poll on residential demand in Bangkok

Thailand’s first property poll focuses on the aftermath of last year’s ‘Great Flood.’

Century 21 Affiliates Thailand, in collaboration with Thammasat University’s Faculty of Architecture and Planning (APTU), is launching Thailand’s first property poll, under the theme ‘Residential Demand after the Flood’.

The poll is aimed at exploring how Thailand’s historical flood affected new homebuyers and at informing the general public, property developers, and the government sectors of the aftermath of the flood crisis on the local property market.

According to the poll, 63% of the respondents stated the flooding did not affect their criteria for new homes, while 34% said flooding became a decision-making factor to consider when buying a house.

When asked about their expectation of the government’s post-flood assistance, over 51.20% of the respondents said the government needed to devise a long-term flood prevention measure. 48.30% said commercial banks should issue lower interest rates for mortgage loans. 33.8% said property tax rates and fees should be lowered following the flood. The government’s effectiveness in implementing supporting measures to prevent future floods is seen as a key concern for most of the respondents.

According to Chana Nanthachantule, Managing Director of Century 21 (Thailand), the public opinion poll reflected a variety of issues stemming from the flood crisis, including how the flooding affected new homebuyers’ criteria for property.

He said the company is planning to submit the data to related public agencies and hoped this data will raise awareness concerning the public’s altered perception of the Thai property market.

When asked if the government’s future flood policy would be affected by the release of the poll, he said he hoped relevant governing bodies would keep this data in mind when planning and implementing changes in the city’s infrastructure and the flood protection system.

Century Poll asked 1,214 male and female residents from 3 provinces, namely Bangkok, Nonthaburi and Pathum Thani, whether last year’s floods were factored into their decisions when purchasing future property and what post-crisis measures are needed from public sectors.

Century 21 and APTU will join hands in launching new property polls on a monthly basis. (NNT)



Benchmark introduces ‘Open House’ sales to the Pattaya property market

Pool villa, Pratumnak.

In an effort to boost housing sales in the Pattaya market well-known local real estate brokering company, Benchmark Asia Property Co., Ltd. has introduced a popular method of real estate sales practiced overseas. Benchmark believes that the “Open House” method they now offer will suit the selling of high-end houses in popular and prime areas where there is sufficient walk through traffic.

To initiate this relatively new marketing method to Pattaya market they have already organized 2 “Open House” events in the last couple of weeks. The first was held at View Talay Villas Jomtien where there were quite a number of visitors who came to view the large 3 bedroom pool villa which was on offer for sale or rent. The second event was held in the popular Pratumnak area where a two storey luxurious pool villa was on offer.

The main benefit of these types of events is that they enable potential buyers to view the properties in their own time but also allow them to get all the details from the agent and make a fully informed decision conveniently. Benchmark’s owner, the experienced real estate broker Gareth De Silva, and marketing manager Michael Theron, invite sellers who wish to arrange similar events to contact them on 038-304-133 or 081-7929486, or Email: [email protected].



Centara to manage and rebrand Koh Chang Tropicana Resort

Pool view at the Centara Koh Chang Tropicana Resort.

Centara Hotels & Resorts will from 1 April 2012 assume the management of the existing Koh Chang Tropicana Resort & Spa, located at Klong Praow Beach, on Koh Chang, Trat Province.

The property will then undergo extensive renovations and upgrading, while continuing to remain open to guests, and on 15 October this year will be rebranded as Centara Koh Chang Tropicana Resort.

This will be the first property on Koh Chang for Centara, who do however operate the Centara Chaan Talay Resort & Villas Trat, which is on the mainland facing the island.
“We believe Koh Chang has great potential for growth as a quality tourism destination, and we are delighted in the confidence that the owners, Koh Chang Tropicana Resort & Spa Co., Ltd. and Tropicana Resotel Co., Ltd., are placing in us in awarding us this management contract,” said Suthikiati Chirathivat, Chairman of the Board, Centara Hotels and Resorts.

The resort’s beachfront restaurant.

“Rebranding the hotel as a Centara resort will place us very firmly at the forefront of this very important tourism market.”

Koh Chang Tropicana Resort & Spa is a low-rise resort set in beachside landscaped gardens and featuring157 guestrooms and suites.

There are two swimming pools, a spa with a full menu of facial and body treatments, and a beachfront restaurant serving Thai and international cuisine.

The renovation and upgrading programme will include the guestrooms and the lobby, while the spa will become Centara’s own-brand Spa Cenvaree, and a Kids’ Club will be added.
Meetings and incentives will also form a significant part of the marketing mix, as the resort has its own dedicated meeting room that can hold between 80 and 240 persons, and which is equipped with full professional visual and sound equipment.

Centara Hotels & Resorts is Thailand’s leading operator of hotels, with 38 deluxe and first-class properties covering all the major tourist destinations in the Kingdom. A further 17 resorts in the Maldives, Philippines, Vietnam, Bali Indonesia, Sri Lanka and Mauritius Indian Ocean, brings the present total to 55 properties.

Centara Hotels & Resorts also operates two state-of-the-art convention centres in Bangkok, and one in Udon Thani in northeastern Thailand. For more information visit website www. centarahotelsresorts.com or Facebook: www.facebook.com/centarahotelsresorts.



Holiday Inn Resort Cha-am re-launches after refreshment

The new lobby at the Holiday Inn Resort Regent Beach Cha-am.

Holiday Inn Resort Regent Beach Cha-am, an internationally branded resort on Cha-am beach, has been re-launched following the completion of a THB 100 million resort refurbishment. More than 150 guests from the government and private sectors in the tourism industry were given a very warm return welcome in a house-warming party on the beachfront property last month.

“I am very proud to introduce this refreshed home-away-from-home property in this iconic destination of Petchburi,” said Piyaman Tejapaibul, Managing Director, Regent Group and Holiday Inn Resort Regent Beach Cha-am. “With Holiday Inn’s world-class reputation, I believe our experienced management team and colleagues will take the resort to the next level of success.”

The refurbishment programme at the luxury resort included an update of the amenities and a focus on maintaining seamless hospitality. The 40-acre grounds cover lush landscaped tropical gardens and an architecture encompassing both contemporary and Thai traditional designs with state-of-the-art facilities.

Each of the 560 rooms has a spacious balcony and is designed with every convenience for resort-style living. The resort also offers a wide range of holistic Thai and western massage treatments at its signature Tea Tree Spa. Guests can enjoy a wide selection of local specialties and international cuisines in the three on-site restaurants and bars. In-room features include a choice of soft or firm pillows, Internet, and comfortable work spaces.

Holiday Inn Resort Regent Beach Cha-am has 19 multi-purpose function rooms, both indoor and outdoor, to accommodate various social and MICE events with groups of 20 to 2,000 delegates. The resort has been selected as a venue for many national and international functions, such as the 15th Asean Summit in 2009, WGC World Golf Championship in 2010, and TPAA Thai Physician Association of America in 2011



CPN to launch 7 new projects worth Bt 25.3 BN

Models stand next to a billboard showing CPN’s new retail development projects for 2012-13.

Central Pattana Public Company Limited (CPN), Thailand’s largest retail developer, is looking to make a big impact on the Thai retail industry by announcing 7 new projects for 2012 and 2013, with a combined value of 25.3 billion baht.

The new projects include the new Centara Udon Thani Hotel (January 2012), the new Central Plaza Udon Thani (soft opening on 27 March and grand opening in 26 April 2012), Central Plaza Lampang (December 2012), Central Plaza Ubon Ratchathani (April 2013), Central Festival Hat Yai (October 2013) and Central Festival Chiang Mai (November 2013), which will raise CPN’s combined gross floor area from the current 4.2 million square metres to over 5 million square metres by the end of 2013, and help reinforce the company’s status as Thailand’s number one retail developer.

Kobchai Chirathivat.

Kobchai Chirathivat, CPN’s President & CEO, said: “CPN sees the growth potential of major cities across Thailand and realizes that by investing in retail projects in such strategic locations, the company can greatly impact these provinces and complement them. CPN aims to bring globalization and urbanization to these potential cities and help raise their value and boost community spirit.

“By developing and operating new shopping malls in these provinces, CPN will be maintaining a diversified investment portfolio and helping to spread economic growth and create jobs in areas it operates its business”, he added. “The seven new projects are all located strategically in areas where purchasing power is high.”

Although Thailand had to face tough challenges during the recent severe flooding, CPN still experienced success with the launch of four new projects – Central Plaza Chiang Rai, the new Central Plaza Lardprao whose renovation took only six months, Central Plaza Phitsanulok and Central Plaza Grand Rama 9, which is the first shopping mall to be connected to an underground station.

“Over the past year, CPN has revolutionized the Thai retail sector by applying the latest innovations to its planning and operations, including design, marketing and corporate management,” said Mr. Kobchai. “We have received over 50 awards and recognitions from both local and international organizations. Thai people can be proud of the fact that shopping centres in this country can compete with those in other countries.”

Currently CPN is no longer competing only against local companies, but also against major retail developers who have chosen to invest in Thailand. CPN’s investment in these 7 major new projects aims to highlight the company’s status as Thailand’s number one retail developer which is well on its way to becoming a globally recognized company. CPN is confident that each and every one of these projects has excellent growth potential and will definitely help revolutionise the Thai retail industry.

Central Plaza Chiang Mai Airport.



Three new residential agency appointments for Jones Lang LaSalle

Jones Lang LaSalle has been appointed as sole leasing agent for three residential projects in Thailand. These include Nchantra in Phuket, Sirisa Residence in Pattaya and Sarasini Residence in Bangkok.

Suphin Mechuchep, Managing Director of Jones Lang LaSalle Thailand, said, “In mid-2011, we made a major move to expand into the residential project sales business by building our Residential Sales teams in Bangkok, Pattaya and Phuket. Our investment has become fruitful as reflected by the sole agency appointments that we have won in the three cities.”

Nchantra is a beach-front residential development located in the east coast of Phuket offering 42 pool villas and penthouses for sale on a freehold basis with prices starting from THB 14 million. Sirisa Residence in Pattaya features 440 condominiums with a total project value of THB 1.1 billion. Sarasini Residence in Bangkok is a boutique low-rise condominium development located on Sarasini Road offering 54 units with an average price of THB 120,000 per sqm.

“The luxury residential markets in Thailand’s major cities like Bangkok, Pattaya and Phuket have faced a number of challenges over the past years, including a fast growth of new supply and lower demand from overseas buyers following the global financial crisis and in the most recent case, the ongoing debt crisis in the Eurozone,” said Mrs. Suphin.

“However, fundamentals in these markets remain strong. While supply growth has slowed in response to slower demand of buyers from Americas and Europe, Thai buyers have remained active. In addition, there remains continued interest from Asian buyers. All these have helped sustain growth of these residential markets,” she added.

“Nonetheless, as the market environment has become more sophisticated, with both local and foreign buyers becoming more cautious when making a buy decision, developers need to work harder to ensure buyers’ confidence. And this is where our strong global brand and professional Residential Sales teams on the ground come to play,” Suphin concluded.



Preeda Real Estate launches new condo project in Bangkok

Preeda Real Estate announces the launch of its GRENE Chaengwattana development, March 13, 2012.

Preeda Real Estate, a recently launched subsidiary of Preeda Construction Co. Ltd., has entered the high-rise condo market with the announcement of their chic GRENE Condo project on Chaengwattana Road in Bangkok.

The THB900 million, 22-storey development will incorporate 376 units in total with prices starting from as little as 1.29M baht. There are several unit types such as studio (23 square meters), 1-bedroom (32 square meters), 2-bedroom (60 square meters) and Duplex (50 square meters).

The condominium is fully-equipped with amenities such as a swimming pool and Jacuzzi, sauna, playground, fitness room and a party room. In addition, the security system is fully-equipped with 24 hour CCTV, key card access and the proportion of parking area about 49% of the residential project.

Piyachat Preedanont, Managing Director of Preeda Real Estate said, “We are confident that GRENE Chaengwattana will be well received by the young generation customers because the condominium is situated in an outstanding location, at the intersection of Chaengwattana Road and Prachachuen Road (along Khlong Prapa). It is very close to Chaengwattana expressway exit and, in the future, it will be within walking distance to the Sri-Ratstation of the Pink MRT line. Therefore, the value of the project will only increase in time.”

Preeda Construction Company Limited is one of the leaders in construction business with more than 38 years experience in governmental, commercial and residential projects. The company has been developing its own residential projects in recent years and at present focuses on the development of condominium projects in highly-populated areas which are in high demand.

The company recently completed the ‘GRENE Suthisarn condominium, which is currently in the process of transferring ownerships to customers.



InterContinental opens Samui Baan Taling Ngam Resort

(Left to right) Nakaret Butthuam, Head Butler, Colin Baugart, Mathias Urbaczek (the resort’s first guest) and Arnaud Girodon, General Manager.

InterContinental Samui Baan Taling Ngam Resort, the newest property in the IHG Worldwide global portfolio, opened its doors in February to offer another luxury residential option on Koh Samui’s tourism map.

Formerly managed by various hotel operating companies, the resort occupies an exceptional location on the south-west tip of the island at Baan Taling Ngam. It was Koh Samui’s first ever luxury resort and opens following a 10-month multimillion dollar renovation project as the island’s “Grand Dame”.

“We are confident, this well-loved destination is better than ever as it flies the new flag of InterContinental Hotels & Resorts,” said General Manager Arnaud Girodon.

InterContinental Samui Baan Taling Ngam Resort viewed from the private pier.

With breathtaking sunsets and 320-degree vistas across the famous “Five Islands” and Angthong National Park, InterContinental Samui Baan Taling Ngam Resort brings with it luxurious accommodations, a private beach, gourmet dining and signature spa raised 120 meters above sea level.

It is also the island’s only address to offer private transfers to guests, to and from Koh Samui International Airport by speedboat direct to its own 150-metre licensed pier.

Set amid 22 acres of lush coconut plantation, the resort’s 79 guest residences include 12 signature standalone Beachfront Pool Villas and 17 2-bedroom villas perfect for families and/or groups of friends. Ranging from 67 to 320 square meters, each boasts a private balcony, expansive bathroom with soaking tub and waterfall shower, and is adorned with unique ‘pops’ of colour adding a contemporary edge to the resort’s strong Thai heritage. 12 signature standalone Beachfront Pool Villas have their own private sundeck and swimming pool.

Resort facilities also extend to a fully equipped gymnasium, two tennis courts, a golf practice area, a dedicated yoga sala overlooking the ocean and a resort ‘inspiration’ centre.



Construction starts on The Palm, Wongamat Beach after project receives E.I.A. approval

From left: ITAL Thai Trevi’s Somboon Kwangthung (Project Manager), Arthit Lochinda (Assistant General Manager) and Ekachai Phongphua (General Manager) pose with Palm developers Winston Gale, Simon Swain and Sukanya Gale, plus Sathida Limphasut from CB Richard Ellis Thailand.

One of Pattaya’s most talked about new condominium projects, The Palm at Wongamat Beach, has been given the green light after the developers received E.I.A. planning permission in February. Initially the paperwork had been held up following the flooding in Bangkok at the end of last year that affected the planning department there, but with things now returning to normal in the capital the stamp of approval has finally come through.

Construction of the luxury twin tower development began on February 24, with the piling work being carried out by Ital Thai Trevi, one of Thailand’s best know and well respected piling specialists who have undertaken many of Bangkok’s high-profile projects as well as several here in Pattaya.

“This will be our first time working with Ital Thai Trevi and we are looking forward to building a strong relationship with them over the coming months,” said Winston Gale, co-developer in The Palm.

From left: The Palm developers Winston Gale, Sukanya Gale and Simon Swain meet with Cornerstone’s Surakit Somnustweechai (Project Manager) and Khun Songpon Monsree (Site Engineer).

The time period for the piling contract is 5 months with above ground construction continuing from then onwards. August will therefore then be the milestone for the main construction company, Cornerstone, to start building the main structure which is expected to take 3 years.

Richard Bell, Cornerstones MD said, “I am delighted Cornerstone have been appointed project managers for such a prestigious development like The Palm. We have a strong presence in Bangkok and it is good to see Pattaya now growing at a pace and Cornerstone now being a strong apart of Pattaya’s real estate expansion.”

Investor interest in The Palm has been strong since day one and much of that has been down to the work put in by award winning property consulting agency, CB Richard Ellis, Thailand, who have been handling the sales of the project since December 2011. With 75% of the 421 units worth approx. 2 billion baht already sold, CB Richard Ellis have now been retained by the developers as sales agents for a further 12 month period.
For more information on The Palm, go to www.thepalmpattaya .com or www.cbre.co.th.

The Palm’s CB Richard Ellis team.



Vietnam residential property market is slowing down

High interest rates are slowing down the residential property market in Vietnam as potential buyers find it difficult to get loans, it is claimed. According to Nhaban.com, Vietnam’s biggest real estate website, buyers cannot get bank financing as interest rates have soared to 22.42%, one of the highest in the region.

An artist’s rendering shows the proposed Hoa Sen Apartment building in Ho Chi Min City. Vietnam’s property market has stalled due to rising interest rates. (Photo/Nhaban.com)

The central bank has increased its refinancing rate to 15% from 9% while lending costs for some businesses are up to 25%. So the whole market has more or less slowed down despite there being many purchasers who want to buy but cannot borrow the money.

It is estimated that 29.2 million people in urban areas and 62.2 million people in the countryside will need property in the next few years. The real estate market will only recover when loan interest rates decline, a seminar heard in HCM City in February.

Speaking at an event hosted by Vietstock Communications, Dr Le Xuan Nghia, vice chairman of the National Financial Supervision Committee, said though the Government’s efforts to curb inflation have yielded results, banks’ interest rates have not dropped significantly.

Prof Dr Dang Hung Vo, a former deputy minister of natural resources and environment, said the real estate market would continue to face a shortage of capital this year.

The sector should not have high expectations of foreign investment as foreign investors would only enter the market when they see property prices drop sharply, he warned. Both Nghia and Vo agreed however that there was unlikely to be a situation where property developers sold on the cheap.

Vo explained away the steep price cuts made by some developers as being due to the poor location of their projects.

The tight monetary policy and oversupply in some segments have forced property investors to cut prices, but this was not a widespread occurrence, Nghia said.

Many people are still holding out for high prices, so foreign investors consider Vietnamese property prices high, he said.

Speaking about possible development opportunities this year, Vo said the market could improve in the third quarter when banks’ liquidity problems are expected to partially ease and credit would again begin to flow into it.

The Government has given priority to restructuring the monetary and banking sectors, and already approved the national housing development strategy from now through 2020, he said, referring to the need for more housing to be developed under the strategy.

Nghia predicted the low-priced housing segment to recover first, by mid-2012 at the earliest. (PR Log)


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