Raimon Land Plc plans two condominium projects in Pattaya this year, with unit prices starting below 50,000 baht a square metre, the first mid-market developments the company has undertaken since 2004.
Unit prices will start below 50,000 baht a square metre, the first mid-market development the company has undertaken since 2004.
The move is in line with its policy to shift from foreign to Thai buyers after the global financial crisis crushed most foreigners’ purchasing power in 2009.
The first low-priced project in Pattaya in 2011 is the 480-unit Zire Wongamat worth 2.9 billion baht located on Wong Amat Beach.
The unit prices will start from 1.9 million baht or 47,500 baht a sq m and the sizes will be smaller, starting at 48 sq m for one-bedroom units. At the company’s recently completed Northpoint condo in Pattaya, one-bedroom units are 70 square metres.
The company also plans another project on an eight-rai site with no beachfront in Pattaya city but is waiting to see market feedback on the Zire before launching it.
Is There a Silver lining amid COVID-19?
Thinking of the future impact of this pandemic on office buildings, it may have already dawned on many of us that a majority of potential long-term trends and health measures will become permanent work-life features in the times to come.
The time is ripe to embrace Industry 4.0
Traditional brick-and-mortar retail has suffered tremendously, as countries have been implementing effective stay-at-home and social distancing policies to mitigate virus spread, while those worst hit have enacted strict draconian lockdowns
We have entered a time where, seemingly, interconnectedness is the new enemy, staying in is the new going out, and antisocial is the new social. COVID-19 has brought us on the cusp of growing accustomed to new norms and sounded a wake-up call in terms of how we live.
Covid-19 puts flexible space markets under strain
In the wake of operator defaults, landlords will be forced to re-evaluate the role of flexible space in their portfolios.
The global Covid-19 outbreak has had serious negative effects on commercial real estate, including flexible space. Of late, many operators have experienced the flexible nature of the business working against them, as many occupiers have opted to surrender desks and implement work-from-home plans.
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