It has appeared in some online and print media recently that about one hundred buyers of the Centara Grand Residence Pattaya condominium project are staging a protest because construction of the project has stopped and the buyers demand their money back. Central Plaza Hotel Plc. would like to clarify that it only licensed the name “Centara Grand” to the project under a Licensing Agreement, and has absolutely nothing to do with the management of the project, either as shareholder or director. Central Plaza Hotel Plc. has only agreed to have its subsidiary company manage the condominium project, and only when it is completed.
All advertising and sales materials clearly state: “Centara Grand Residence, Pattaya is being developed and sold by the Developer, Tulip Group (Bazis Development Co., Ltd.) and not by Central Plaza Hotel Plc or its affiliates (“Centara”). Centara has not confirmed the accuracy of any of the statement of representations made herein, and Centara is not part of or an agent for the Developer and has not acted as broker in connection with the sale of Centara Grand Residence, Pattaya. Neither Central Plaza Hotel Plc. nor its affiliates, employees or representatives make any warranties or representations in respect of the Project.”
Furthermore, neither Central Plaza Hotel Plc. nor any of its affiliates are party to the condo sales contract between buyer and the developer, Bazis Development Co., Ltd.
Corporate Office Central Plaza Hotel Plc