More than 1,300 guests, from potential investors, VIPs and dignitaries to agents, media and models, descended on the beautiful new Centara Grand Residence showrooms in Na Jomtien on Feb. 4 to join the official Pattaya launch party for this spectacular multi-billion baht project.
To be built on 20 rai of prime real estate with 150 meters of direct and stunning beach frontage, the Centara Grand Residence will offer 283 large, luxurious condo units in 2 towers with a third tower containing the 200-room 5 star Centara Grand Resort hotel.
Developers of the project are the renowned Tulip Group and CEO Kobi Elbaz was in naturally ebullient mood at the party after seeing so much interest in the development.
“We have already sold 43% of tower one which is amazing as we are only officially launching the project here at this party,” said Kobi, “so we are very happy with the reaction of the public to this project and I am very proud of my team for all their hard work.”
He continued, “I believe we at Tulip took a very high risk when we designed this project and decided to launch it as we were not sure how the market was going to react to such a massive development which offers larger than normal unit sizes – the smallest we offer is 42sqm for just over 5 million baht – and although the units are relatively expensive in price, the project offers unlimited facilities and landscaping and is really a 5 star resort in the city,” he said.
Asked about how he saw the infrastructure in the area in Na Jomtien where the project is being constructed would develop over time, Kobi sees very positive things happening in the near future.
“We believe this area will grow up very fast as there is no available prime real estate land left in the city,” the Tulip CEO commented. “Only this last month we heard that Bumrungrad Hospital has purchased a piece of land nearby our development and plans to build the largest hospital in the Chonburi region, so we expect to see the area and infrastructure develop quite rapidly.
“I see how Pattaya is expanding further and further down the coast towards Sattahip and I am very happy that we were able to obtain this spectacular piece of land here (in Na Jomtien) which provides direct access to the beach,” Kobi added.
With much emphasis being placed on offering a truly luxurious lifestyle and environment, over 72% of the project has been set aside for green areas and landscaping, which will also encompass a 15,000sqm swimming pool water park. The tie-up with the Centara Group of hotels also ensures a 5 star resort experience for all residents of the development.
“I’ve been in the real estate business for 14 years and for me personally this is the most exciting project I have been involved in,” commented Tulip Vice President Jason Payne, who was also attending the gala party. “Sales at the Bangkok launch were overwhelming with 55 units sold in the first weekend but I think the most exciting thing for us as a company is the amount of Thai buyers and investors who have shown interest or made a purchase in the development.
“Generally speaking it’s relatively easy to sell 49% of your units in a project to foreigners but the Thai market in Pattaya can sometimes be a little bit difficult”, Jason continued. “But the high net worth Thais can see the value in this project and their excited about it. Our partnership with Centara means that residents will have access to all the hotel facilities, which we believe is a very big draw for buyers.”
Chris Bailey, Senior Vice President Sales and Marketing for Centara Hotels and Resorts was as equally thrilled as the Tulip management about the launch of the project.
Kobi Elbaz, CEO of Tulip Group; Jason Payne, VP of Tulip Group and Aliwassa Pathnadabutr, MD of CBRE Thailand.
“Centara already operates three properties here in Pattaya and the Centara Grand will be a fantastic 5 star resort and we are very excited by this addition to our portfolio,” said Chris.
“What you see here in the showrooms at the Centara Grand Residence will be very similar to what we will offer when the hotel is constructed. Luxury and a touch of opulence, and one of the things we really love about this project are the designs of the outdoor terraces that are far larger than found in normal hotel rooms.
Chris Bailey, Senior VP Sales and Marketing for Centara Hotels and Resorts.
“With all the facilities like the fantastic swimming pools, spas, fitness center, top restaurants and a stunning beachfront, it will truly be an all encompassing resort,” he added.
Playing a key part in the launch of such an ambitious project has been agent and property management company CBRE Thailand. Managing Director Aliwassa Pathnadabutr said that the spacious design of the units at Centara Grand Residence is an important selling point that gives it a decisive edge in the high-end property market.
“When we discussed the development with Kobi at Tulip Group we were looking for a product that would serve the needs of the high-end luxury market and we came up with a unit mix that is larger than in most other projects,” said Aliwassa.
“Most developers are thinking how can they sell the 51% required unit quota to Thai buyers so when Kobi came to see us we told him about our customer base which was the high-end of the Thai market so our strategy was to find a way to bring the Bangkokians to Pattaya to view these spectacular show units,” she continued.
The link with the Centara brand has also been a key factor according to Aliwassa.
“If you choose a condominium with a hotel link up like Centara Grand you are ensured of having a high quality management for the development, which means all the common areas will be well maintained to a hotel standard and leads to an increase in value of your property. There is also the high standard of service provided by the hotel,” she added.
The project’s spectacular showrooms in Na Jomtien were built at a cost of 200 million baht – the most expensive ever constructed here in Thailand – and give a true feeling of the opulent lifestyle residents can expect once the project is completed in 3 years time. The sales office and showrooms are open daily and are well worth a visit. For more information, contact CBRE Thailand on 038 706407 or 081 987 0403 or got to website www.cgrpattaya.com.
One of the showrooms suites for Centara Grand Residence.