Award-winning property developer Raimon Land has launched the show suite for its new Zire Wongamat project in Pattaya at a special media event held Friday, July 29, that also provided an unprecedented insight into the state of the city’s property market.
Raimon Land ended the first half of 2011 on a strong note with total sales of 1.1 billion Baht recorded from two Pattaya projects – 218 million Baht from the already-completed Northpoint and 878 million Baht from Zire Wongamat. Thanks to strong interest from local and international buyers alike, Raimon Land secured sales of 179 units – or 40% of all available units at Zire Wongamat in only six months since the project’s launch in January of this year, translating into an impressive average of more than 1 unit per day.
From left: Ekasit Ngampichet, secretary to chief of Pattaya City Office; Hubert Viriot, CEO; Rattanachai Sutidechanai, Pattaya’s Tourism and Sports Committee Chairman and Montri Hemvichitr, VP Special Projects pose for a photo at the ribbon ceremony to officially open the new show suite.
“The Wongamat beach area has long been regarded as one of the most desirable stretches of beachfront land in Pattaya,” said Raimon Land Chief Executive Officer Hubert Viriot. “Zire Wongamat’s immense pre-sale success is an excellent confirmation of the beach’s exceptional appeal as well as the lively state of Pattaya’s condominium market.”
Kwanrudee Maneewongwatthana, DVP Corporate Communications & Branding talks to the assembled press about the project during the special media day and presentation held Friday, July 29.
Comprising two residential towers 37 and 54 storeys tall, the Zire Wongamat project is currently in development with support from TISCO Bank in the form of a 1,027 million Baht credit facility package. The tendering process for the project’s piling works has been completed and is now pending technical and commercial appraisal. Once finished, piling works are expected to begin shortly thereafter alongside tendering of the main building contracts.
Zire Wongamat is currently scheduled for completion in 2014 and will offer 480 impeccably-designed units with excellent panoramic views of the Gulf of Thailand upon completion. Customers can choose from a wide variety of unit types, ranging from 38 sq. m. studios all the way to 185 sq. m. three-bedroom duplexes.
Equipped with world-class facilities like an infinity lap pool, fitness centre, sauna and more, the project represents an unrivalled proposition with its affordable starting price of 2.5 million Baht. And in celebration of the opening of the new show suite, buyers will be eligible for a special promotional price on remaining units.
The Zire Wongamat development will comprise two residential towers of 37 and 54 storeys.
“We don’t compete head to head with mega developers and we are not looking at selling the project out at launch, we sell the project gradually but obviously the earlier you buy the greater discounts you receive,” said Hubert Viriot in an interview with PMTV. ‘The Zire Wongamart marks a new market for us and is aimed primarily at young Bangkokians. Today we have opened our new show suites and we are delighted that we have already sold 45% of the project,” he continued.
In addition to fresh revelations on Zire Wongamat, Raimon Land also presented information from “Pattaya Market Updates”, a special report that captures the current state of Pattaya’s condominium market.
Phansiri Mongkolprasit, Senior Manager – communications; Hubert Viriot, CEO and Simon Derville, DVP – Research, announce the launch of the Zire Wongamat to the media from Bangkok and Pattaya.
“Since the second half of last year we have seen a surge in new supply available in Pattaya that is now concentrated in the hands of professional developers,” said Simon Derville, Raimon Land’s Deputy Vice President for Research and Development. “Our recent research counts 26 projects launched in the last 12 months totalling 10,205 units, which represents about twice the volume of last year. To date, 41% of these units are reported sold by the developers with the Wongamat area performing best with a take up of 45% achieving a price of Baht 87,840 per square meter.”
Pattaya’s Mayor Itthiphol Kunplome was also quick to note in a July 27 interview that “Pattaya will continue to flourish as Thailand’s top Eastern Seaboard vacation, commercial, entertainment and retirement destination with the help of planned infrastructure and development projects like a hi-speed airport rail link between Suvarnnabhumi Airport and Pattaya, a possible monorail in the city, as well as better organized traditional local transportation.”
Already rated as one of the top 20 places in the world to purchase a second home by British newspaper The Telegraph, Itthiphol added that “Pattaya is pushing to introduce new zoning initiatives and once new regulations and government policies are complete, the area will solidify its reputation as an investment hotspot with dynamic economic growth to become an even more desirable destination for both Thais and foreigners.”
For more information on the Zire Wongamat development, visit www.raimonland.com.
The show suite of Raimon Land’s luxury Zire Wongamat project.