Pattaya condo market 2011- A big year for new condo construction

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Some of Pattaya’s biggest developers set to launch an influx of new projects in 2011

The Eastern Seaboard property sector has suffered in recent years, due to worldwide recession, political unrest and weakening world currencies, however Pattaya’s property developers whilst cautious have continued to launch new projects, and just as importantly have actually gone ahead and completed them.

Those developers bold enough to show faith in the property sector have also been rewarded by very positive sales figures.

An artist’s render shows the Novana Residence by The Nova Group. An artist’s render shows the Novana Residence by The Nova Group.

Apus Condominium launched in January 2009 is fully complete and nearing 90% sold out, Avenue Residence is also complete and 100% sold out; very positive sales figures are also being reported from projects such as The Gallery, Porchland and of course we have seen the completion of Northpoint by Raimon Land, The 6 Star Premier project The Cove from Petch Property and the ongoing of Major Plc’s Reflection in Jomtien.

This is just a small snapshot of projects either completed or nearing completion and by no way means an exhaustive list.

Well this trend looks like it will continue in 2011, with a number of the area’s biggest developers about to launch a number of premier projects.

At the recent Movers and Shakers Party, Managing Director of The Nova Group Rony Fineman gave an exclusive to Pattaya Mail TV with the news that his company will launch 3 new projects, including another City Low-rise development Novana Residence, a premier 45 Storey 5 Star high-rise on Wongamat Beach The Palm and The Legend a 34 storey tower on Pratunmak Hill near the prestigious Royal Cliff Hotel.

Marketing Director for Vareejinda, Jason Payne recently announced that after the success of Apus Condominium, they had secured land for a further inner city project as well as two other beachfront sites, of which full details of these 3 projects will be released early in 2011

Premium Developers Raimon Land will launch Zire Wongamat in March 2011 with 2 towers of 37 and 54 Storeys respectively, Vistas Development have just launched The Peak Towers.

Other developers such as Matrix, Iguana and Heights Holdings who have always been active in Pattaya will continue to bring quality new projects to the market also in 2011.

So in summary- 2011 looks like being a very big year for the local real estate sector, again demonstrating the confidence and resilience that Pattaya seems to offer. (PR Log)