Inside look at Luxury Villa Estate Talay Sawan in Bang Saray!

A while ago i posted about a luxury housing village in Bang Saray. What makes this village truly unique is not only its original take on Thai Bali design, but the fact that the entrance is roughly 50 meters from the sand  in Bang Saray beach.
Housing estates on the beach are basically non existant. Combining this, with the fact how rapidly Bang Saray and the entire Eastern Sea Board are growing makes this not only a great place to live but a very sound investment. The pictures do not do the villa justice, have a look at the video below to get a feel for what living in this luxury estate may be like and check out our ad at pattayarealestatemarket.com.

 

Bangkoks Suvarnabhumi's new expansion to come at tourists and travellers expense

If you read our last post you saw the article i reported on from "The Nation" regarding upcoming improvements to the airport. It now seems we the travellers and tourists, business men etc will be paying for these improvements.

The AOT is hiking up fees for domestic flights to 150Bt from the previous 100Bt. In addition international flight will now have a 800Bt service charge compared to the previous 700Bt.

"The Nation" have published the following article in this mornings paper:

NONGNAPAS MAIPANIT
THE NATION
September 29, 2012 1:00 am

 

Air travellers will have to pay more for passenger service at Suvarnabhumi Airport after operator Airports of Thailand announced plans to increase the charges next year.

However, AOT also plans to invest up to Bt5 billion in developing facilities at the airport in a bid to ease congestion.

Somchai Sawasdeepon, director of Suvarnabhumi Airport, said yesterday that the passenger service charge for international flights would be increased to Bt800 from the current Bt700 while that for domestic flights would be raised to Bt150 from Bt100 currently.

"Though the number of passengers has grown by an average of 8-9 per cent annually, we don't expect traffic jams at Suvarnabhumi Airport, as some airlines have moved to provide services from Don Mueang Airport," he said. AOT expects the number of passengers at Suvarnabhumi next year will decline to 45 million, compared with an estimated 52.6 million this year. The main reason is that Thai AirAsia, an airline that carries 10 million passengers a year, has relocated to provide services from Don Mueang.

He said Suvarnabhumi would restore some space on the terminal's fourth floor for use by passengers. The airport also targets luggage-loading times not exceeding 20 minutes.

Somchai said AOT planned to invest up to Bt5 billion on developing facilities in the airport such as luggage conveyors (Bt1.8 billion), air-conditioning improvements (Bt677 million), computer network (Bt334 million) and rest-room improvement (Bt100 million).

In addition, AOT is proceeding with Suvarnabhumi Airport's second-phase construction, requiring an investment of Bt62 billion to enable traffic of 60 million passengers a year, up from 45 million currently.

Bangkoks Suvarnabhumi airport to catch up with modern times?

The debacle better know as Bangkoks Suvarnabhumi airport -- aka "Swampy" -- has finally realised  it needs to catch up with modern times and be able to properly cope with the yearly increases in travellers coming in and out. This  may finally begin to improve its image.

Word is they are hiring 250 more immigration officers to help speed up entrance into the kingdom. Also they are setting a minimum of 20 minutes after a flight parks for the first bag to come out from the carousel.

If that isn't enough to get excited about they are in the process of implementing 15-30 minutes of free wifi service in the terminals. That's right a whopping 15-30 minutes free....at least its a start :). This is what i gather after reading this article i found on "Thai Visa" listed below.

BANGKOK, Sept 29 – Suvarnabhumi Airport hopes to see great improvement in immigration checks, baggage claims and internet service soon to cope with the increasing passenger load next year, airport director Somchai Sawasdeepon said yesterday.

The international airport will have 180 less flights or 10 million less passengers each day after budget airline Thai AirAsia relocates to Don Mueang airport on Monday.

Mr Somchai said 250 more immigration officials will be on duty at Suvarnabhumi airport to accelerate visa inspections, and reduce the process from 50 minutes per passenger to 20 minutes.

Passengers will find it more convenient with the visa checking areas three times larger while baggage claims must be finished within 30 minutes after a flight lands, with the first baggage delivered to a carousel in 20 minutes, Mr Somchai said, adding that a 15-30 minute free wi-fi service will also be available.

Suvarnabhumi airport served 48.32 million passengers between Oct 2011 and August this year, a 9.65 per cent increase year-on-year. It is estimated that the total number will be 52.6 million passengers, or 301,477 flight, at the end of this fiscal year on Sunday Sept 30.  It predicted an 8-9 per cent growth next year with a major increase in passengers from China, Malaysia and India.

Airports of Thailand (AoT) has planned a second-phase development project of Suvarnabhumi with an investment of Bt65 billion to cope with 60 million passengers by 2017. (MCOT online news)

Pattaya and Jomtien are serious about cracking down on jet ski scams!

Pattaya's government may actually mean business when it comes to cleaning up the beaches in Pattaya and jomtien. It has long been a problem with jet ski operators acamming and even strong arming tourists into paying money for damages they did not cause.

This can greatly affect Pattaya and Jomtiens tourist trade, souring the future for tourism in the areas. Random weekly inspections as well as yearly check to make sure operators have and can continue to re-new their licenses are already being implemented. Have a look below atthe article from Pattaya One News!

On Thursday afternoon the first of a series of random weekly checks on Jet Ski’s and their operators on Pattaya and Jomtien Beaches took place in an effort to stop the well publicized Jet Ski scams which have a huge negative impact on tourism in the area.

A team of officials including Police Colonel Tamanoon, the Pattaya Police Chief, Khun Pongtasit, Chief Bailiff of Banglamung District along with Khun Adisorn, local adviser to the Ministry of Labor and officers from the Marine Department, conducted an inspection of the Jet Ski’s and operators located along Pattaya Beach.

Apart from the vehicles themselves the Jet Ski operators were given details of newly enforced regulations which must be adhered to from now on which includes yearly checks for each Jet Ski before licenses to operate can be re-issued.

For those that fail to comply with these regulations, strong penalties will be issued and they will not be permitted to run their business from the beach.

Pattaya to become a safer place for tourists and ex-pats

Looks like the boys in brown and the local government are finally recognising the growing crime rate in Pattaya and deciding to take action. This will include safety nets, more tourist police in more areas as well as cctv cameras through out the city. Check out this article from Thai Visa

Pattaya sets up safety zones to reduce crime rates

PATTAYA, 27 September 2012 (NNT) - In the wake of increased crime rates in Pattaya district of Chonburi province, local police are pushing ahead with their plan to set up a safety zone project in the beach area and the Walking Street.
The Chonburi Governor and the Pattaya Mayor will together preside over the project opening ceremony at the Walking Street tomorrow, during which the safety zone project will be officially unveiled.

According to Superintendent of Pattaya police station Pol Col Thammanoon Mankong, the scheme is to provide tourists from around the globe who visit Pattaya each year with a greater sense of safety. He elaborated that a police patrol unit will be assigned to the safety zone on a 24-hour basis.

In a bid to reduce crime, the district police will set up police checkpoints, widen participation from tourist police units and other related agencies, enlist further cooperation of local communities and business operators, as well as monitor footage captured by CCTV cameras installed throughout Pattaya.

Pol Col Thammanoon said that by giving priority to tourist safety, the number of tourist arrivals will eventually be boosted, generating more tourism revenue for local businesses and for Thailand as a whole.

Brand new townhouse for sale in Central Pattaya

Brand new 3 story Townhouse in Central Pattaya soi Boonkhot is for sale. The townhouse sits on 26 TW of land and is perfect for a home, home based business with living quarters upstairs, or converting the upstairs into rooms for rent. See More... or contact Khun Sa +66(0) 85 213 9457

Tourists and ExPats continue to struggle under heavy rains in Pattaya

Anyone that has spent any amount of time in Pattaya knows when it rains...it floods. Pattaya despite all its new high end housing and condos along with upscale restaurants and night clubs still has very poor drainage sysytems.

Short term and long term residents of the Soi Buahkhao area especially around the Soi Diana section of the soi is vulnerable to meter deep waters with in an hour of a torrential downpour.

Thailand as a whole has recently been battered by heavy rains and unfortunately the outlook does not seem much better in the coming days. Check out this article from PattayaOne.Net:


Monday Night saw further spells of torrential rain which caused flash floods around the City and according to weather reports the rainstorms are expected to become more severe over the coming days.

Already some Embassies have issued flood warnings to its citizens and according to the latest weather updates from the Thai Meteorological Department there is a high pressure system from China and a strong south-western monsoon prevailing over most of Kingdom including the Gulf of Thailand, the Eastern provinces are expected to see the worst of the storms.

The Pattaya authorities are doing their best to clear blocked storm drains and are working around the clock, but we noticed on Monday Night large amounts of debris within the flood waters which will only re-block drains that may have been earlier cleared.

Prime land for sale in Jomtien Beach

Prime piece of land has just come up for sale on Soi Chaiyapreuk 1. Has electric and water already and sits roadside with 230 TW of land ready for development. See More

Pool House for sale in Jomtien Beach!

Very nice home in Jomtien Beach now for sale. Single story 3 bedroom 4 bath with private swimming pool just 700 M to the beach. Great price at 6.5 MB. See More...

Jimmy Page joins Jesters in Pattaya

Jimmy Page joined the Jesters last night for their Care for Kids fund raiser. Jimmy donated an acoustic guitar ad was joined by other musicians to the likes of Len Tuckey, Tony Stevens, and Barry Upton.

Always nice to see people getting together for a worthy cause and make some kind of a difference. Jesters have been doing it for years and helps boost Pattaya's reputation to something more than just a sex-pat society. The full article from Pattaya 103 FM is below. Happy reading!

Pattaya: The Jesters celebratory fund-raiser, takes place on saturday  at the Amari Orchid Pattaya.

Giving his time to a worthy cause, Jimmy Page, of the legendary band Led Zeppelin,   is personally donating an acoustic guitar for auction on what promises to be a Gala Party night including  a sit-down international buffet dinner with complimentary beer, wine and soft drinks and live entertainment. and,once again, its a  sold out event!

Little surprise as the entertainers for the evening have a musical pedigree that would qualify them for the”crufts of the music world” with such musicians as Len Tuckey, who in addition to managing Slade was also the lead guitarist, and ex husband of Suzie Quatro, ( and co write of some of her best songs), Tony Stevens, whose hits with Foghat are legendary and Bob Lamb who, as the drummer with Steve Gibbons, also went on to discover UB40 and Duran Duran.

Their impromptu band, BBLT,  incorporates the vocal skills of US Artist Brian Thomas to create one of the best music sounds ever heard in the city.

Bary Upton will also be appearing, alongside the Band of Smiles whose showcase is outstanding and well respected amongst Pattaya Music lover and all in all it promises to be an amazing evening for the ticket only event

To make sure that everything is 100%, the bands arrived at Leo’s blues bar in Naklua on Friday to put the finishing touches to their presentations and to get to know each other better.

Leo, the husband of the bar owner, Nang, extended the welcome from his hospital bed, where he has been driving nursing staff mad for several weeks,  to all and offered them as much time as they needed to ensure that the fund raising night is a success.

Pattaya 103 FM will be covering the event and hopes to bring you updates afterwards including the results of the mammoth auctions and lucky draws, all of which raise money alongside the numerous other events, for Jesters care for kids, One of Pattaya’s finest causes

Updates on Luxury Pool Villas...The Vineyard 3!!

Phase 3 of the award winning Luxury Pool Villas Project...The Vineyard is selling very well. There are still a few units left starting from 12.5 Million Baht. They have released a new video which you can view below. Also here is a link to a virtual tour on this wonderful estate! Please contact Khun Sa at +66(0) 85 213 9457 or email at info@pattayarealestatemarket.com. For more information you can also view our ad for this property here.

Is Pattaya cleaning up its act????

It appears that the higher ups in Pattaya are finally realising their dream of turning the booming beach resort into a five star city is being jeopardised by rogue operators along the beach. It has long been a problem with jet ski vendors and all the scams they pull, leaving tourists with a bad taste about Pattaya and are not interested in returning....furthermore recommending to their family and friends not to holiday there.
There was a meeting in Chonburi to promote and protect tourism in the city. On the agenda was the growing problem of crooked jet ski operators and other beach vendors. Check out this article from Pattaya 103.

Pattaya: Provincial Governor and City Mayor look to protect Pattaya Tourists

Monday saw a large meeting of all concerned in local tourism as the Governor of Chonburi Province, alongside our own City mayor and representatives of the Tourist Authority of Thailand, headed  a meeting to promote and protect tourism in the city.

Pattaya’s Mayor has sworn to create a city that people want to return to  and a tourist destination second to none, and nothing is going to stand between him and that goal. Especially not a few itinerant  jetski rogue renters and tourist scammers. Pattaya City hall is determined to stamp out any corruption that affects visitors and create a resort that people look forward to returning to.

In addition to the Jetski problem, the agenda included ways to approach and solve the problems of  safety, security and confidence for visitors and improve the city facilities.

It was made clear that the rogue jetski operators were now a problem at national level, after international TV coverage and complaints from various foreign embassies in the capital.    Without a serious effort to introduce control and management  all  Beach vendors,  the damage to tourism is incalculable.

Specific jet ski locations were suggested along with the already planned idea of central ticket offices along the beach which would become the liaison between tourist and operator, ensuring that all rentals include insurance and that rogue operators be closed down.    

Boat and other rentals also came into the discussion and many disagreed with the rigorous bylaws that have been proposed.

Even those who disagree will have left with no doubt that the City, Province and Tourist Authority mean business and  will have the matter resolved quickly, as tourism is not only the life blood of the city, but also the future.

Big plans for Pattaya's little neighbor...Koh Larn

 Is Koh Larn getting ready to expand? Are there are any real plans laying out tourism, infrastructure, and future? How about a 10 Billion Baht plan from Hermaraj Land and Development PLC.

The new development is slated to have a new full marina with boat docking and hotels. Also on tap is an aquarium, safari park and a range of 3,4,and 5 star hotels. Small electric and cable cars will be the only available forms of transportation on the tiny island. Below is the entire article from "The Nation"

THE NATION September 17, 2012 1:00 am

Koh Larn chosen because it is ‘not too large and also has proximity to Pattaya

Sawasdi Horrungruang, founder of Hemaraj Land and Development Plc and now chairman of the advisory board, is geared the listed real estate firm towards the upcoming launch of a Bt10-billion entertainment complex on Koh Larn near Pattaya, to serve an expected increase in the number of both domestic and international tourists.

The project, undertaken by Million Island Co Ltd, a wholly owned subsidiary of Hemaraj, was aimed as a new link to destinations in Hua Hin. Getting to Hua Hin from Koh Larn off Pattaya by boat takes an hour, compared with four hours by road.

"This will be a choice for touristswho travel to Pattaya, Koh Larn and then towards Hua Hin," said Sawasdi. He said reasons for choosing Koh Larn is that it's not too large an island, offering serenity and proximity to the shore of Pattaya.

In addition, he foresaw tourist arrivals on the island of nearly 10,000 people a day on weekends and 6,000 a day on average. This could rise to 12,000 a day if there were more facilities.

Million Island Co Ltd bought 228 rai, half of Koh Larn's total area, for Bt2 billion from hotel developer Wicha Baopimpa in Pattaya seven months ago, Sawasdi said. There will be four phases, with construction expected to start next year.

The first phase will include a marina, hotels and boat docking. A ll four phases

are scheduled to be completed in thenext five years. Now, he said the company was selecting a foreign consulting firm to design the landscape. Roughly, he said the project would be in a vertical shape, comprising an aquarium, 3-, 4- and 5-star hotels, condominiums for sale,

restaurants, a walking street, pavilions, high-end shopping areas and a safari park.

On the island,small electric and cable cars would be the only transport options.

"All the projects I've done started from a dream and then transformed onto paper before

being materialised," he said. Since coming out of insolvency in February, Sawasdi, 71, has dreamed up another project and has been thinking of a way for it to happen. He aims to differentiate the huge investment complex on Koh Larn not only from rivals but from his former projects that left mounting debts of almost Bt100 billion on his shoulders.

The financial crisis of 1997 brought the collapse of Sawasdi's steel businesses - NTS Steel Group and Nakornthai Strip Mill (NSM) - which were flooded with debts once the baht went from Bt25 to Bt50 against the US dollar. NTS Steel Group eventually for med a joint venture with a subsidiary of SCG and changed its name to Millennium Steel before being sold to India-based Tata Steel. NSM has been merged into G Steel, owned by Somsak Leeswadtrakul. Sawasdi and his family members retain a combined 14-per-cent stake, or 1.35 billion shares (as of August

27), in Hemaraj, which is one of the businesses he founded. For the Koh Larn complex,

Sawasdi said Hemaraj would initially be a majority shareholder, but th is may be diluted in the future to such others as Wicha, who has offered to hold a 20-per-cent stake in Million

Island, and other potential strategic partners.

In the first stage, Million Island will use bank loans to finance the complex, which will be guaranteed by Hemaraj, while some funding would come from Hemaraj's cash

flow, Sawasdi said. "We do not fear creating new debts, as we have learnt a lesson from

the past. The property business is not like heavy industry, which must wait for the last baht before the operation can start. For the property business, we can gradually invest in

a project phase by phase, as well as generating income in parallel in a bid to finance the other phases." He proposed a new way of raising funds to finance projects: setting up a tri-party group consisting of the company, creditor and debtor's customers to reassure debts are repaid.

Once the company has an income on a monthly basis, this will first be deducted to pay off the principal sums and interest to banks, who are the creditors. The balance should be

given to the company.

Pattaya is one lucky city!!!

 If you have been paying attention to any of the local Thai news, you would know that rainy season is definitely upon us here in the "Land of Smiles"... and it aint all smiles.

Certainly for folks in the central plains like, Sukkothai, Petchabun, and Phitchit where flood waters have been measured as deep as two + meters.
 
Bangkok had a real disaster last year and even Yingluk herself has overseen flood tests of dykes and levys in Bangkok to try and ensure residents, corporate owners, investors, and tourists there is nothing to fear.

However, folks in other provinces are being over-run, businesses are suffering, and tourisits continue to lament. Check out what is going on in Koh Chang at the moment from this article today in the "Bangkok Post"

Heavy rains combined with mountain water run-off on Sunday triggered flash floods at four popular tourist destinations on Koh Chang off Trat province, including Hat Sai Khao (White Sands Beach), reports said.

The rainfall that drenched the tourist island from the early morning hours left areas in Hat Sai Khao, Ban Kai Bae, Ban Khlong Phrao and Ban Khlong Phlu under 30 to 120cm of water.

About 500 metres of the main road along Hai Sai Khao beach was under 30-50 cm of floodwater, causing difficulty in commuting.
Authorities said they and volunteer workers cleared debris off flooded roads and ensured that the water drainage system was not blocked.

The Ban Kai Bae area was worst hit with water rising to 120 cm on Ramayana Avenue after an overflow from a local canal. The community’s main road, many houses and resorts were flooded by 80-100 cm of water, according to reports.

Wanroong Kanornkul, a kamnan at Koh Chang, said backhoes and other heavy machinery had been sent to affected areas to dredge canals to accelerate the water flow into the sea.

He said the flood problem on Koh Chang island was temporary and would last only a few hours and that there was no danger. The situation was expected to return to normal by the evening.

However, six waterfalls needed to be closed to tourists due to strong currents.

Photo by Post Today

Photo by Post Today

Shophouse Soi Gor Pai sold!

Bad news is this single unit 4 story shophouse on soi Gor Pai has been sold, good news is we have another one, 3 units down that has just been put up for sale. This one will priced about the same at around 3.2 MB. Pics and info to follow!!

Nice house with garden for sale soi Chaiyapreuk 2

Very nice 3 bedroom 2 bathroom house with mature garden is now for sale. East Jomtien just off of soi Chaiyapreuk 2. Outside terrace had nice garden and sala. Thai kitchen and maids quarters. See More...

Luxury Beach Villa for sale in Bang Saray!!

Just 50 meters from Bang Saray Beach!! Luxury 2 story, 3 bedroom, 4 bathroom Thai Bali style house. Electric door garage, private swimming pool, all rooms air con and full hot water through out the house. , 24 hour security. See more...

Tourists and ex-pats will have 4 new reasons to smile on Pattaya

There are four new projects in the works for the Pattaya area which will be beneficial to ex-pats as well. 

•    Firstly expats will be able to enjoy these venues and use them to entertain family and friends when they come to visit. 
•    Secondly these venues will help increase the value of their property. 
•    And finally these venues will help reduce Pattaya's image as only a sex tourist destination 

The four projects are worth a total of 2.23 Billion Baht worth of investment and are poised to open next year and include 

1. Kidzania 
2. Ramayan Water park
3. Amazon Falls Water Park
4. Siam World Art Company

Check out this article from the Bangkok Post:

     PATTAYA : Four projects in the tourism sector worth 2.23 billion baht that received Board of Investment (BoI) privileges are poised to open this year and next.

   The first is a Hong Kong investment of 550 million baht by the Kidzania Group, the world's fastest-growing edutainment brand, to set up Kidzania this December at Siam Paragon.

Kidzania is a role-playing activity where children aged 4-12 can try out different adult occupations.

The second project is a 900-million-baht Thai-Russian joint venture to set up Ramayana water park in Chon Buri's Sattahip district slated for next year.

The third is a 620-million-baht project by Pacific Shore Development to set up Amazon Falls Water Park. This joint venture between Hong Kong and Malaysia will be in Pattaya and is slated to open next year.

The last is a 162-million-baht project by Siam World Art Co to set up a cultural centre with investment from South Korea. The centre will be located in Pattaya exhibiting sculpture, paintings and Thai-Korean culture.

BoI secretary-general Atchaka Sibunruang said the board expects higher investment in the tourism sector, especially theme parks that will enable Thailand to compete with Hong Kong's Disneyland, Singapore's water park and Malaysia's theme parks. Amazon Falls will be the first water park in the world to use cartoon presenters.

The Ramayana is billed as the largest water park in Asia Pacific. Once these two open, they should attract investment in other areas, she added.

From 2007-12, a total of 23 projects applied for investment promotion in the tourism sector, totalling 3.48 billion baht.

Three projects totalling 1.47 billion baht were theme parks, four projects totalling 707 million baht were cultural centres, 12 projects worth 417 million baht were hiring boats for tourism, and three projects totalling 215 baht were tourist boat parking areas.

Dr Atchaka said the BoI is revising its promotion policies. The tourism sector will still be given a prominent place, but some adjustments might be made in terms of providing incentives for projects the government prioritises, such as theme parks and water parks.

To this point no global-scale theme park producers such as Disney or Universal have shown interest in investing in Thailand, said Dr Atchaka. Malaysia and Singapore provide many incentives to attract tourism projects, such as racing arenas, she said.

In the past the BoI provided incentives for a variety of tourism businesses, such as racing arenas, open zoos and electric hoists, but have not received any interest from business operators, said Dr Atchaka.

5 Unit shophouse for sale soi 17

Shophouse for sale, 5 units, 3 story. Upstairs has been used as single living quarters but can easily be converted into guesthouse or factory. Must see to appreciate. See More                                         

Contact: info@pattayarealestatemarket.com
                             Khun Sa 085 213 9457

31 Rai of land at Mabprachan Lake for sale!

Located near both Siam Country Clubs ( New and Old courses)
on a hill with stunning mountain views, only two minutes to
Lake Mabprachan. Great piece of land for housing development or resort. See More

What are the top 15 property firms in Thailand

With all the speculation going on about if Pattaya is getting over saturated with condo projects or even in Thailand i think this puts things in perspective. revenue is up 56% from the first half of the year and half of these property firms will be delivering their projects ready for transfer by the end of this year. Here's is Sept 3 article from "The Nation"

Fifteen listed property firms will show revenue from their condominium projects totalling at least Bt100 billion in the second half of this year, up 56 per cent from the first half thanks to transfers of completed condos to customers, according to research by Asia Plus Securities.

The research said 85 main condominium projects worth Bt179 billion developed by the top 15 listed property firms would be ready for transfer in the current half. These companies also have low-rise residences ready for sale, with transfers to customers in the second half worth Bt37.3 billion. Total backlog is worth Bt216.3 billion.

The top 15 property firms listed on the Stock Exchange of Thailand are Pruksa Real Estate, Land & Houses, Sansiri, Quality Houses, Asian Property Development, SC Asset Corporation, Supalai, Noble Development, Lalin Property, Property Perfect, LPN Development, Major Development, Sena Development, Raimon Land, and MK Real Estate Development.

"We target total revenue from their condominium backlog of at least Bt100 billion, or half of their condominium projects worth Bt217 billion, that will be completed and ready to transfer this year," the research said.

This will drive the net-profit margin of these companies to 15 per cent in the second half, better than the average 13.01 per cent in the second quarter of this year.

The top 15 reported total revenue of Bt63.9 billion in the first half, comprising Bt29.4 billion in the first quarter and Bt34.5 billion in the second.

They also showed net profit of Bt8.06 billion in the first half, Bt3.57 billion recorded in the first quarter and Bt4.49 billion in the second.

The total presales of the 15 companies covered by the research were

worth Bt54.3 billion in the second quarter compared with Bt50.5 billion in the first quarter, so overall in the first half they booked presales of Bt105 billion.

LPN Development managing director Opas Sripayak said it would book revenue of at least Bt10 billion in the current half of the year after transfer of its condominium projects to customers in the third and fourth quarters. They include Lumpini Park Rama 3-Riverside, Lumpini Ville Pattanakarn, Lumpini Ville Piboonsongkram-Riverview, Lumpini CondoTown North Pattaya-Sukhumvit, and Lumpini Ville Chaengwattana-Pakkret.

Property Perfect chief executive officer Chainid Ngowsirimanee said the company would have Bt3 billion worth of condominium projects ready to transfer to customers in the current half. This will drive its revenue to Bt12 billion by the end of the year.

Sansiri president Srettha Thavisin said it would have Bt15.8 billion worth of residential projects ready to transfer in the second half after the company delivered 3,185 units worth Bt10.16 billion in the first six months.

Asian Property Development has four condominium projects ready to transfer. They total 1,564 units worth Bt8.69 billion at The Address Sathorn, The Address Asoke, The Address Sukhumvit 61, and Aspire Srinakarin.

Most of the condo projects ready to transfer in the current half have been launched since 2010, the year.

The Securities and Exchange Commission will ban new property funds once REIT rules are enforced.

Looks like the rules are once again changing. The SET will be banning new property funds to replaced by real estate investments to both protect and draw investors. This article was in "The Nation" today and i found it interesting, hope you enjoy it!
The Nation

September 7, 2012 1:00 am

The Stock Exchange of Thailand expects more property funds to be launched before they are replaced by real estate investment trusts, which provide greater investor protection at the cost of lower returns.

Bt30 billion was raised through property funds in the first eight months of this year, which was a new record, Chanitr Charnchainarong, senior vice president, said yesterday.

New funds raised Bt27.4 billion while existing funds expanded by Bt2.59 billion. In 2010 and 2011, property funds raised only Bt8.59 billion and Bt14.46 billion.

"The value should rise further, through fund-raising by new and existing funds before the end of 2013," he said.

Developers are encouraged to launch property funds before the end of next year to attract investors, as dividends paid out by property funds to corporate and individual investors are not subject to withholding tax.

However, a year after the REIT law takes effect next month, they will be slapped with a 10-per-cent withholding tax.

For better protection of investors, all of REIT's properties will be held by banks as trustees. Property funds establish a juristic body to guard their properties.

The Securities and Exchange Commission will ban new property funds once REIT rules are enforced.

Expecting busy traffic until the deadline, the SET is urging developers wanting to take advantage of the current rules to seek free advice and prepare for the launching of their property fund.

At present, 39 property funds are listed with combined market capitalisation of Bt149.28 billion. Among the four entering the market this year was the Tesco Lotus Retail Growth Freehold and Leasehold Property Fund, which mobilised the biggest-ever amount - Bt18.4 billion.

The CPN Commercial Growth Property Fund is preparing for listing this month.

Caution on Condos in Pattaya

There has been much speculation in recent years regarding the condo boom around the Pattaya area...is it getting over built. I saw this article in the Bangkok Post todaystating smaller developers may run short on funds for completion of projects due to rising construction costs and Pattaya possible getting over built. Future prospective buyers are always advised to consult a lawyer and conduct their own Due Diligence. Best advice is to stick to the more established developers and consult with local real estate professionals. Here is the article:

Pattaya condos 'may not be built'

Home buyers must be extra cautious in purchasing condos in Pattaya as smaller developers are expected to face difficulties in actually starting construction of their projects, according to a major developer, SET-listed Raimon Land Plc (RML).

Reuters Photo

According to the latest Raimon Lands annual research publication Condominium Focus Thailand: Update for Inner-City Bangkok and Pattaya, 28,892 condo units are expected to be completed in Pattaya over the next three years.
However data gathered over the last one year (from the second half of 2011 to the first half of 2012) shows that 3,258 units have already been officially suspended.
Simon Derville, Raimon Land’s deputy vice president for business development said the majority of the units suspended tend to be low rise, 8-storeys high and without beach front or sea view, which makes it difficult to sell.
He forcasts that the number of development projects that would not be able to secure financing due to low pre-sales could reach up to 10,000 units over the next three years.
"If you are buying from someone you never heard of, you should definitely double check, ask a lot of questions and do our own due diligence," he said adding that buyers should find out if the developer actually owns the land if they have secure financing for construction and what their previous construction projects include.

Double wide shophouse with 14 rooms for rent

Double wide shophouse for sale in soi 17. Currently operating as two seperate units. This four story building has 14 Thai style apartments and is fully rented out making this a great turnkey business. See more