The Pattaya-based developer Nova Group hopes low pricing will drive sales of its new 1.2-billion-baht The Cliff condominium in Pattaya, says the group’s owner, Rony Fineman. The Nova Group’s B1.2bn The Cliff condominium in Pattaya will benefit from cheap units and a 20% lower price for Thai buyers, says the group’s owner Rony Fineman.

The 27-storey project occupies 3.75 rai and will have 426 units sized from 37 square metres and priced from 1.95 million baht for foreign buyers and 1.55 million for Thai buyers. Construction will start in July next year and is scheduled to be completed by the end of 2012.

nova cliff
The Cliff, Nova latest project in Pattaya

Mr Fineman said the group’s strategy was to set lower prices than competitors and to sell the Thai quota 20% cheaper than the foreign quota.

“The pricing is the main factor for our high-volume sales. The double pricing policy seems to work very well for us and our Thai customers,” he said.

Mr Fineman has been engaged in real estate in Pattaya since 1986, when the Nova Lodge Hotel was launched. The Nova Group currently owns Amari Nova Suites, Nova Park Serviced Apartment, Nova Gold Hotel, Nova Platinum Hotel as well as pubs and spas. It is also constructing three hotels in Pattaya and Bangkok.

via Nova trusts in low-price strategy.

About the author

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Sign Up for Our Newsletter

Get notified of our weekly selection of news

You May Also Like

A short Guide to Taxation in Thailand

If the land or building is left empty or unused for a period of more than three consecutive years, it will be subject to an additional rate of 0.3% every three years, but the amount will not exceed 3%.