With talk of a potential real estate bubble building in the city many developers may be currently wary of launching new projects onto the market, but for Matrix Developments it seems to be a case of all systems go, with the company’s plans firmly set for the next couple of years.
With a vast portfolio of developments already under its belt, Matrix has undoubtedly become one of the key players in the real estate sector in Pattaya. Currently the company is marketing two major projects; the first being The Vision on Pratumnak Hill, described as “a world-class high rise building offering state of the art architecture, beautifully designed with many facilities in one of Pattaya’s most desirable locations.”
Already The Vision is 90% sold out however some units in foreign ownership are still available. It has been granted the much needed EIA approval and construction is well underway and is on track for completion by the end of 2014.
The Amazon is a vast project located not far from another Matrix development, Paradise Park in Jomtien. The Amazon will feature 800 units across 4 buildings and the first phase is set to be completed by the end of 2014, with the other buildings following thereafter.
Matrix has seen a direct impact on the market following the influx of Russian investors and also Australians, Singaporeans, Chinese and even the Japanese, who have been buying up units at another of their new projects, City Center Residence, just off Third Road in central Pattaya.
City Center is the first downtown project for Matrix and will offer a holiday environment along with easy access to the famous Pattaya nightlife, the beaches and shopping.
“City Center is good for investment as these are studios and people can buy more than one, be it for their family or to use as an office,” says Miki Haim, Managing Director of Matrix. “ROI will be very healthy because of its design and rental rates can be inline with hotels in the city center,” he added.
Martix has just released renderings of The Sky project, a high-rise building set on two rai of land, beautifully designed and differing markedly from many of the other buildings around town. It will have 300 units across 30 floors with an average price of 75,000 baht per square meter.
The Sky lies a mere 500 meters from Jomtien beach, not far from Park Lane, Paradise Park and The Amazon on Soi Wat Boon. The company says the project will be marketed in September in time for the high season.
An artist’s rendering shows Matrix’s The Sky Jomtien development.
It all seems to add up to an exciting time for Matrix Developments whose ability to adapt to the changing market environment is one of the key factors that breeds confidence within the company.
“Matrix has something for every budget and we offer choices in terms of location and lifestyle,” continued Miki Haim. “We see that Thailand and Pattaya in particular is still very popular for investors because of its world-class tourism status and that, coupled with the addition of new attractions such as the Cartoon Network theme park, will see more and more Thais coming to Pattaya and the number of investors will continue to grow as the city grows likewise in step with demand.”