Real Estate
Pattaya developer Nova trusts in low-price strategy
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.
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.
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