Thai listed property developer Raimon Land held an open day last month to brief both the local and Bangkok media on the progress of its two current ongoing projects in Pattaya.
Raimon Land was one of the first property companies to make a mark in Pattaya, 10 years ago, with the launch of Northshore in Central Pattaya, then, two years ago, the company completed Northpoint, a luxury residential development located on Wongamat Beach.
Zire Wongamat is advancing on schedule and will be ready to welcome its residents in Q3 2014.
On the back of the success of these first two developments in the seaside resort, the company subsequently launched two further projects in the city, Zire Wongamat, a neighbour to Northpoint, and Unixx South Pattaya.
Simon Derville, Deputy Vice President of Business Development, Raimon Land, advises the media on progress at Zire Wongamat in north Pattaya.
Located along the exclusive beachfront neighbourhood of north Pattaya, Zire Wongamat is scheduled for completion in Q3 2014 and Raimon Land expects to see owners transferring to the property as early as September.
The topping-off ceremony, carried out in November 2013, marked the completion of the structures of both Towers A and B and to date, the car park building is also up, while the external hardscape and roadway works are almost finished. With the occupation permit inspections now carried out, the focus is on the details of the residential units themselves and the common areas.
Sitting in front of the 2 main buildings are the beautifully designed gardens, swimming pools and a fully landscaped beach frontage. The Glass House, a long-time favourite among locals and tourists in Pattaya’s gastronomic scene, will operate Zire Wongamat’s Beach Club in this common area and will be open to public access as well as to residents of Zire.
Attapol Itthirattanakomol, owner of The Glass House, commented: “This is truly the ideal site for our second restaurant in Pattaya, because of its amazing location right next to the beach, offering an ambiance that is difficult to match. We look forward to welcoming visitors for a taste of our warm hospitality and famous cuisine.”
Raimon Land’s Deputy Vice President of Business Development, Simon Derville, confirmed during the site visit that 90% of the Zire project’s 480 units have already been sold, with local interest in the development being particularly strong.
Construction at Unixx South Pattaya is progressing as scheduled, with the building now reaching Level 14.
“We discovered that Thai buyers were predominantly attracted to the Zire Wongamat compared to the Northpoint development next door,” said Simon. “The units at Zire range in size from 38 to 185sqm and have a slightly smaller floor-print than Northpoint. This seems to suit our Thai customers more as they typically use their condominiums for weekend getaways and short stays. In contrast we witnessed a lot of Europeans and North Americans buy into Northpoint as they tend to stay in Pattaya for 2 or 3 months at a time. At present I would say that approximately 70% of our customers at Zire have been Thai.”
The 37-storey Tower B at Zire is already completely sold out, however there are currently 42 units still available in the 54-storey ocean facing Tower A, with prices ranging from THB 10 to THB 15 million, or approx. THB 120,000 per sqm.
The second part of the site visit saw Raimon Land take the invited media on a tour of its Unixx South Pattaya project located along Pratumnak Road where construction is also advancing at a rapid rate. The lift core and main structural works have now reached Levels 14 and 11 respectively while mechanical and electrical first fix works are at Level 7, with second fix works at Level 5. Sweeping views of the Gulf of Thailand, Jomtien and Pattaya can now be appreciated from these heights.
There are currently 42 units still available at Zire Wongamat, with prices ranging from THB 10–15 million.
Unixx South Pattaya comprises a single tower with two wings of 42 and 46 storeys respectively, featuring studios, 1-bedroom and 2-bedroom apartments, ranging in size from 27 to 62sqm. With prices ranging from THB 2 to THB 5.8 million, Raimon Land says the 7-rai freehold property has been designed to appeal to city-dwellers craving a weekend getaway, or small families looking for a second home away from the city.
60% of the total available units have already been sold and the remaining units are open to both local and foreign buyers. Construction for Unixx South Pattaya is scheduled for completion in June 2016.
To ensure good working conditions for the 700 construction workers involved in the project, Raimon Land and its contractor, Pre-Built, have jointly set-up suitable living quarters approx. 9km from the Unixx South Pattaya site.
“We have provided a family-friendly compound featuring a canteen, a playground, a nursery, as well as a rest area. Our two companies are highly committed to the comfort, health and safety of our workers,” explained Robin Goh, Pre-Built Project Director.
With 50% of its total portfolio of ‘currently under-construction’ projects being located in the seaside city, Simon Derville confirmed that Raimon Land is committed to the Pattaya real estate market for the foreseeable future but added that the company has no plans in place for any new projects here in the short term.
“With beachfront land prices in Pattaya approaching astronomical levels, and new government legislation enforcing a limit on how much you can build on any given piece of land, we have decided to adopt a ‘wait and see’ approach before launching any further projects in Pattaya,” said the Raimon Land executive. He did however confirm that Raimon Land’s next project launch would almost certainly be in Bangkok and that the company was also keeping an eye on the burgeoning Chiang Mai property market, which is rapidly attracting the interests of a growing number of Chinese tourists and investors.
For more information about Raimon Land projects, visit: www.raimonland.com.