Bangkok--2 Aug--Francomasia
Award-winning luxury property developer Raimon Land launched the show suite for Zire Wongamat today, the company's third residential high-rise in Pattaya in a special media event that also provided unprecedented insight into the state of Pattaya'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.
"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 Mr. 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."
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.
In-Depth Report Reveals Vibrant Property Sector in Pattaya
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.
“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. 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,” said Mr. Simon Derville, Raimon Land's Deputy Vice President for Research and Development.
Pattaya’s Mayor Mr. 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, Mr. Kunplome 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, please visit www.raimonland.com.