Pattaya Condomininm Development Project
- 2016년 3월 20일
- 2분 분량
Pattaya Condominium Development Project
20-Mar-2016
PNO. 13115_2
Background: The Thai landowner owns land in Pattaya area where the original plan included the building of Hyatt hotel. However, the landowner modified the project to build two condominium buildings.
Project owner: SPC (TBD)
Project Location: Pattaya beach, Thailand
Project Plan: Two (2) condominium buildings
Process Method: JV with the Landowner
Business Permit: Scheduled (hotels and condominiums surrounding this location has started the construction and period for obtaining permit usually takes 2 months.
B.P, E/S, F/S: Scheduled after SPC is established
Project Description:
The new airport in Bangkok is located in the South of the Bangkok to reduce the travel time from airport to the city. Currently, the expressway between Bangkok and Pattaya has completed its construction to expand from 4 lanes to 8 lanes. The construction project to build expressway from Bangkok to Rayong which passes by the Pattaya has been confirmed. There is limited number of development for hotels and resorts nearby Pattaya and with the increasing number of visitors; the project is to expect high return. Also, the growth rate of Pattaya is highest in Thailand.
Proposal:
Landowner wants the developer to manage from attaining permits, construction, and sales (distribution). The profit excluding the land cost may be shared with the landowner.
Key Facts:
Landowner is to participate with investment in kind when SPC is established
JV with the Landowner reduces the initial business risk
With the recent development, there is increase in the price of this area
The Belgium insurance company is intended to participate in sales of entire units of the condominium A.
Currently, the 50% of entire units have been presold
Thai Bank has given LOC to participate 70%PF as the 30% of the entire project is presold
The landowner has contracted with Heerim, a Korean company, to build Hyatt Hotel next to this project location
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