Knight Frank sees great potential in Pattaya market
U-Tapao is estimated to bear an annual capacity of 1.2 million passengers this year, up from 700,000 passengers in 2016.
New transport infrastructure projects will push more property buyers toward Pattaya, according to Knight Frank Thailand, per The Nation.
Massive state investments, including the expansion of the U-Tapao International Airport and the redevelopment of the Sattahip Commercial Port into a yacht marina, are widely expected to bolster growth in an area known as Thailand’s eastern economic corridor, encompassing the provinces of Chonburi and Chachoengsao.
Thailand’s eastern economic corridor will promote 10 target industries.
U-Tapao is estimated to bear an annual capacity of 1.2 million passengers this year, up from 700,000 passengers in 2016.
Similarly, the Sattahip port will reduce travel times by as much as two hours and support east-west freight transport across the Gulf of Thailand.
The Sattahip and Na Jomtien areas will particularly benefit from the projects, said Knight Frank Thailand managing director Phanom Kanjanathiemthao.
More: Why Pattaya’s condo market is balancing on a knife edge
“Pattaya itself has set a goal to become a centre of tourism to support the growth and integration of the Asean Economic Community,” said Phanom.
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