Bangkok--18 Mar--Francom Asia Sales in Northpoint, Raimon Land’s luxury condominium development in North Pattaya, have surged past the THB3 billion barrier, taking total sales to 60% of the targeted THB5 billion. Raimon Land launched the 376-unit project, located on a 12-rai beachfront site at Wongamart, in November 2006. To date, it has achieved an average per-square-metre (psm) price of THB120,219 on the 252 units sold. Sales for both towers have been brisk since the beginning of 2008, with buyers signing up for 59 units worth THB591 million at an average price of THB120,592 psm from January 8 to March 11. Sales in February alone were worth THB362 million. “The surge in sales in the last two months is a clear indication that investor confidence is returning to Thailand and to the booming eastern seaboard region,” said Raimon Land Chief Executive Officer Nigel J Cornick. Take up in Northpoint’s South Tower has been particularly strong, reaching 79% of the targeted THB2.71 billion through sales of 138 of its 163 units. North Tower sales have hit 38% of its value at THB846 million through sales of 114 of its 213 condominium units. Interest has been strong from local Thai investors as well as a wide spread of other nations, such as Russia, the UK, Australia, Sweden, Germany, Estonia and China. A more recent trend is an influx of Thai expatriate buyers who recognise the relative value of Thailand compared to their current place of residence. Mr Cornick said investors are becoming more active in Thailand’s top resort where returns have been impressive. “Pattaya offers a tremendous opportunity to realise both strong short-term gains as well as long-term growth through investments in grade A condominium developments,” he said. “Rental yields have been averaging 6-10% per annum and buyers at Raimon Land’s Northshore project have enjoyed on average capital increase of 30% per year.” A major factor driving Pattaya high-end residential real estate sector is its growing allure as an active lifestyle destination, which can now cater to more affluent well-travelled visitors who will pay a premium for indulgent experiences. International five-star hotels are scrambling to get a foothold in Pattaya. Local luxury brand Centara, along with international players Hilton, M๖venpick, Le M้ridien and InterContinental all plan to open hotels or resorts by 2010. Pattaya is also a rising star in the international yachting scene. The 2007 Top of the Gulf Regatta — held at Jomtien’s Ocean Marina Yacht Club — attracted more than 500 sailors to what is becoming one of the highest profile events of its kind in Southeast Asia. Raimon Land recently released Why Invest…Pattaya, an unprecedented and in-depth examination into the residential property market in Thailand’s top beach resort and its vicinities. To receive a free copy contact Raimon Land Research e-mail: [email protected] or download from our website. PRESS ENQUIRIES : Walaiklao Kumwong Raimon Land Public Relations C/O Francom Asia PR Tel: 02 233 4338 or 39 Fax: 02 236 8030 E-mail: [email protected] Kwanrudee Maneewongwatthana Vice President Communications Raimon Land PLC 22nd Floor, The Millennia Tower 62 Langsuan Road, Pathumwan, Bangkok 10330 Tel : +66 (0) 2651-9600 to 4 Fax : +66 (0) 2651-9614 E-mail : [email protected]