Building Higher
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A Thai property developer has announced plans to build a skyscraper in the capital Bangkok that will be among the 10 tallest buildings in the world when it is completed in 2019.

The 125-floor tower will rise 615 meters (2,018 feet) and include a luxury hotel, offices and an observation deck with panoramic views of the Thai capital, developer Grand Canal Land Public Company Ltd. (G Land) said in a statement.

According to the Council on Tall Buildings and Urban Habitat, which maintains a database of the tallest skyscrapers, the Bangkok “Super Tower” will be the world’s ninth tallest if it is built on schedule. It would be the second tallest if built today. It will also dwarf the tallest building currently in Thailand, the Baiyok II tower, which tops out at 328.4 metres on its 85th floor.

The second-tallest structure, to be completed in 2016, is Mahanakhon condominium at 314 metres.

The developer intends the tower as the center of a new 90,000 sqm. business, shopping and residential district in Bangkok costing 100 billion baht (US$3.1 billion).

The tallest building in the world is currently Dubai’s Burj Khalifa, which has 163 floors and is 828 meters (2,717 feet) high.

Tallest building to date in Pattaya is the Reflection on Jomtien Beach with 54 floors and 332 units. Maybe it is time for Pattaya City hall to allow this record to be beaten by allowing some bright developer to create the World’s tallest building right here on Jomtien Beach!

Cloud starts construction.

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The Global Top Group, one of Pattaya’s most active developers, recently commenced construction on its latest project, “The Cloud” condominium.

In attendance at a ceremony to mark the occasion were Wipa Borvornratanagosol, Director of Troung Co., Ltd., part of the Global Top Group, and Shlomo Netter, Construction Director, as well as the management team. “The Cloud” is the fifth condominium project under the group. Located in the Cosy Beach area of Pratumnak Hill, “The Cloud” will be a 20-storey high rise building offering 161 luxury condominium units with commanding views of Jomtien and Pattaya Beach.

Unit confgurations will include studios plus 1 and 2 bedroom layouts with prices starting at 1.45M baht. Construction of the development, valued at over 450 million baht, is expected to be completed by 2017. The project was launched with one of the biggest trade and consumer events seen in Pattaya. Currently 90% of the development has been sold. For more information, visit www.thecloudpattaya.com.

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Thai real estate sector welcomes more joint ventures with foreign investors

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After months of political unrest and facing a sluggish economy, the Kingdom’s property market has shown signs of a slow recovery, with several foreign companies flocking to Thailand to form joint ventures, according to a recent report by Property Report magazine.

Among the local developers that established these strategic ventures include Charn Issara Development, which, along with investors from Mainland China and Hong Kong, is building a mixed-use project in Phang Nga province called the Baba Beach Club, valued at THB3 billion (USD91.35 million). Another high-profile collaboration is Major Development’s THB 100 million (USD3.05 million) joint venture with Danya Cebus, a top construction company based in Israel, and CRG Global Investment from Hong Kong.

Japanese and Singaporean funds are also in advanced negotiations to form a venture with a local developer in a deal that is expected to conclude in the first quarter of 2015. Thai English-language newspaper The Nation also reported this week that real estate investors from China, Hong Kong, Singapore, Japan and even Israel have injected money or assets into Thailand to develop residential and commercial buildings.

According to Surachet Kongcheep, a senior manager at Colliers International Thailand, the local market is appealing to foreign investors who see that geographic advantage of the country as a central hub especially when the ASEAN Economic Community comes into effect in the coming year.

“When land prices and construction costs in Thailand’s property market are compared with those of other countries in the region, Thai prices are still lower, which challenges foreign investors to expand their investment in our property market,” Surachet told The Nation. Meanwhile, some local companies of late continue to form joint ventures as well, such as the 50:50 partnership that developer Sansiri PCL signed with Skytrain operator BTS Group Holdings last October.

The two groups agreed to collaborate on residential projects for sale within the 500-metre radius of the BTS, the first of which is the 900-unit project at the Mo Chit station, due to be completed in 2016.

Demand for Thai real estate is projected to increase by 5-10 percent in the last quarter of this year as top developers intend to launch new products, The Bangkok Post reported last weekend. Half of the ongoing projects are located neat mass transit systems, such as the BTS and MRT lines, where demand and prices are higher.

Tentatively some 60,000 condominium units are slated for completion before the year closes, but that could change depending on construction delays due to lack of workers. Here in Pattaya several developers have forged alliances with Chinese realtors and investment houses in Shanghai and Beijing and there are plans to hold a Thai property road show in China attended by private investors.

 

You Tube promotion for Cote D’Azur.

Check out Seven Seas Cote D’Azur launch promotion on You Tube.

Developers are always trying to find new ways to encourage early sales and with the use of aerial filming the Universal Group team have created a very clever film of the current site and how it will look when completed.

This will be the group’s third resort in the Jomtien area and this project will re-create the style and atmosphere of the French Cote D’Azur right here in Pattaya.

The 1,300 units will be surrounded by French retail outlets even the renderings will have that rustic Mediterranean touch.

Check it out at http://www.youtube.com/watch?v=9ZoPzZ48RAI&feature=youtu.be.

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