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Pattaya Property News & Blog Supplied by Pattaya Condo Property Sales & Rentals, Real Estate Management.

 


News (704)

Pruksa Real Estate, Deliver the Best Homes to its Customers

Thongma Vijitpongpun, president and CEO of Pruksa Real Estate

Thailand listed developer Pruksa Real Estate's target is to make itself a residential brand at the forefront of people's minds, and a top-10 property developer in ASEAN by 2017, by enabling its customers to fulfil their dreams and own a quality home.

As part of its strategy for achieving these ambitions, the listed developer restructured its management team in the middle of 2013.



Labour Shortage Affects Smaller Property Developers in Thailand

According to a survey by the Agency for Real Estate Affairs (AREA), many small and medium-sized property firms have had to suspend their condominium and other housing projects due to a labour shortage and bank restrictions on the provision of project financing.

Some developers, meanwhile, have had to delay the transfer of units to customers after being unable to complete projects on time due to a shortage of labour in the construction industry.



Investment pioneer James Quille bullish on Thailand Real Estate Industry

Kingdom Property CEO Nigel Cornick with James Quille, Chairman of MGPA

Thailand based real estate developer Kingdom Property launched the first in a series of round-table dinner talks at Grand Hyatt Erawan Ballroom last month, and luminaries from the city’s leading property, banking and investment companies gathered to hear the keynote address of prominent fund manager and investor James Quille.

Quille, Chairman of Macquarie Global Property Advisors (MGPA), with assets under management (AUM) of US$12 billion and one of Private Equity Real Estate magazine’s top 30 most influential global investors, was upbeat on property investment in Thailand, and Asia in general, saying there was a strong trend towards more direct investment in real estate.



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Commercial enterprises are a common sight at most large scale condominiums

Pattaya condominium market has remained relatively strong over the last six months, following the solid performance of the previous year. However there are a number of condominium developments in Pattaya where commercial entities do business, be it a travel agency, rental agency, spa or restaurant. Although such businesses may benefit the owners, juristic persons and property managers should make sure that commercial use of space in residential condominiums is compliant with the Condominium Act.

Compliance with the building regulations will help ensure transparency and prevent any negative consequences that may incur from unhappy co-owners, according to real estate management and marketing specialists Jones Lang LaSalle.



Condo Buyers Opting to Delay Transfer of Their Units in Second Half of 2013

RESALE: THE CITY CENTER PATTAYA

More condominium buyers are opting to delay the transfer of their units during the second half of the year, property developers say,amid recent concerns about the quality of construction.

The trend follows the case of a Sansiri customer at the Base Sukhumvit 77 condominium, who complained about the quality of a unit in which there was a deflection problem as a result of the construction process. Deflection is the degree to which a structural element is displaced under a load.



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RE-SALE: AMAZON RESIDENCE 1 BEDROOM-JOMTIEN 2nd RD.

According to Maybank Kim Eng Securities (Thailand)'s securities analysts, with about Bt78 billion in unrealised revenue from secured contracts, property firms should post 8-per-cent-higher profits in the second half of this year compared with the same period in 2012.

However, risk factors such as loan rejection and intense competition should not be overlooked. Profit growth of 17% is expected for the entire year. LPN Development has the lowest debt-to-equity ratio after announcing its first-half operational results, analysts said.



High Number of Condo Supply in Ratchada-Rama IX-Asoke Triangle

Pruksa Real Estate's Condolette Midst Rama 9 condominium, worth up to Bt2 billion and comprising 433 units

Bangkok’s triangle between Asoke, Rama IX junction, and Ratchadaphisek Road, is a popular location for middle- to upper-segment condominiums in the Bt2 million-Bt10 million price range, following the construction of new office buildings in the area, a survey has been found early this week.

Rama IX junction alone has four condominium projects under development, worth more than Bt10 billion combined: the Grand Rama 9 by G Land Group; the Condolette Midst Rama 9 by Pruksa Real Estate; Ananda Development's Ideo Mobi Rama 9; and AP (Thailand)'s Rhythm Asoke.



Pruksa Real Estate Plans Sixth and Last Project The Reserve in 2013

Pruksa Real Estate's latest condo project The Reserve

Pruksa Real Estate plans launch its latest condo project The Reserve in this month and worth Bt1.8 billion, aims for a 9-per-cent share of the Greater Bangkok condominium market by the end of 2013.

Prasert Taedullayasatit, managing director of Pruksa said the company had recorded condo presales worth Bt11 billion in the first eight months. When those are combined with The Reserve, total presales could reach the 2013 target of Bt14 billion.



The Palm Developer Launches The Riviera in Wongamat Area

An artist’s rendering shows ‘The Riviera’ project in Wongamat

Things may have seemed relatively quiet in recent months with regards to the launch of new luxury real estate projects in Pattaya but it seems Winston Gale, founder and co-developer of The Palm has been very busy. With only 29 units left at The Palm, where does this successful developer go next for a follow up high profile project?

Well, it would appear not too far away - the same location as The Palm in upscale Wongamat to be precise. The desirable beaches of Wongamat will soon be seeing the launch of another quality high-rise development close to similar projects such as Zire, Northpoint, Ban Plai Haad as well as the well known hotels Centara Grand Mirage and Pullman Hotel G.



Sunday, 08 September 2013 21:36

Tulip Group Unveils Royal Tulip Suites Pattaya

Tulip Group Unveils Royal Tulip Suites Pattaya

Tulip Group's New Hotel Development Royal Tulip Suites Pattaya on Pratumnak Soi 5

Tulip Group has now confirmed that all necessary permits are now in place after receiving full EIA approval. Just 2 months ago, locally based property developers the Tulip Group announced that they had entered into a MOU (Memorandum of Understanding) with Golden Tulip Hotels & Resorts for a luxury 5 star hotel on recently purchased land on Soi 5 Pratumnak.

The 25-storey luxury property, to be named Royal Tulip Suites Pattaya, will offer 320 deluxe rooms and luxury suites, a panoramic rooftop restaurant and sky bar, two swimming pools and a whole host of luxury facilities expected within a 5 star property. The property is simple steps from the beach and all rooms will offer stunning views of every angle of the city.



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