Bangkok--23 Jan--Tulip Group
Luxury Property Developer to launch a number of new hotels and condominiums
Pattaya property developer Tulip Group today announced that it plans to launch of 3-5 new projects in Pattaya.
The projects will be standalone hotels, mixed use condominiums, a service apartment and a new corporate head office.
The luxury property developer currently has 4 condominiums and 5 hotels currently under construction, all targeted towards the mid- to high end luxury sector and this business model is set to continue.
“our business model is to build only in prime locations, with our target sector being 4-5 star luxury” said Tulip Group Vice President Jason Payne “Pattaya is already changing considerably and we believe that both local and international property investors, as well those choosing Pattaya as their holiday destination are seeking properties that offer true luxury” continued Payne
Pattaya in recent years has seen resurgence in wealthy Thai nationals visiting the area for both holidays and property investment; however local property developers have adopted the business model of offering inexpensive properties in the, THB 1-3 million price range something that Tulip will not follow.
“Personally I am concerned that Pattaya is becoming over crowded with inexpensive projects with 1000’s of rooms, all offering very nice facilities, but how cost effective it is to build these projects, or just where all the people will come from to purchase all of these rooms, I just do not know”
Tulip Group is currently working on projects with Centara Hotels & Resorts, Park Plaza Hotels Europe and Golden Tulip Hotels & Resorts, and the developer claims that they will be bringing even more 5 star brands to Pattaya.“we are currently in negotiation with a number of luxury brands, all of whom seem very excited about Pattaya and its future, we hope to announce some very positive news about our new projects with these brands in the near future” added Payne.