Bangkok--7 Aug--Francom Asia
Launch sales of Raimon Land’s luxury condominium project in Pattaya, The Lofts Southshore, soared to record levels achieving THB120,454 per square metre (psm) as both local and international buyers clamoured to secure units in the new prized development.
This average price psm is the highest ever achieved during a condominium project launch in the city. In contrast, Raimon Land also held the previous record of THB116,500 when it launched its prestigious Northpoint project in North Pattaya during December 2006. A total of 61 units were snapped up for a total value of THB731.81 million at the successful grand opening of The Lofts Southshore on Thursday, July 17 in the project’s show and sales suites at The Avenue shopping centre Pattaya. Starting prices for condominiums in the development are THB2.9 million The launch was presided over by Pattaya Mayor Ittipol Khunplume, Raimon Land Chief Executive Officer Nigel Cornick and other senior Raimon Land executives. By Friday, July 25 the sales tally topped THB772 million for the sale of 67 units, or 40% of the first phase release. Raimon Land has only released units on floors 6-26 in Phase 1 of the 37-floor Tower A. Raimon Land Chief Executive Officer, Nigel Cornick, said early buyers at The Lofts Southshore would also ensure they would obtain prices that would be immune to rising construction costs across the entire industry in Thailand. “As a top-class, luxury product we always knew The Lofts Southshore was going to be highly sought after, but we have really been taken aback by the incredible demand for this project,” Mr Cornick said. “It is not only testament to the international standards of design and construction that we are able to offer, but to the economic strength of the eastern seaboard and Pattaya’s emergence as a high-end lifestyle destination where investors are confident that they can secure significant capital gains and achieve strong rental returns.” The Lofts Southshore brings Bangkok’s well-established “The Lofts” lifestyle concept of providing a high-quality, modern urban design and functionality at an affordable price to the Kingdom’s most popular beach resort. The development combines traditional notions of resort living with a modern urban lifestyle, and characterises the upmarket trend in Pattaya, where new hotel projects will result in a 50% increase in five-star room inventory over the next two to three years.
The Lofts Southshore sits in the centre of Pattaya’s rise as a top Asian lifestyle destination. Perched on a hillside in the Kao Pratamnak area overlooking Pattaya Bay, the project offers stunning 360-degree views of the sea, Pattaya City and surrounding area just minutes from downtown and the beach. The residences range from 34-square-metre (sqm) studios to one-, two- and three-bedroom units between 58-169 sqm. Duplexes are also available as are spacious 259-295-sqm penthouses with private gardens. The project will be completed in 2012 PHOTO CAPTION Pattaya Mayor Ittipol Khunplume cuts the ribbon at the launch of The Lofts Southshore. Pictured from left: Raimon Land Executive Director Chairman, Talal J M A Al Bahar; Raimon Land Executive Director, Werner Johannes Burger; Mayor Ittipol; Raimon Land Director, Hubert Romary Bertrand Viriot; Raimon Land Chief Executive Officer, Nigel Cornick and Raimon Land Chief Operating Officer, Kitti Tungsriwong.
PRESS ENQUIRIES : Walaiklao Kumwong Raimon Land Public Relations C/O Francom Asia Tel: 02 233 4338 or 39 Fax: 02 236 8030 E-mail: [email protected] Kwanrudee Maneewongwatthana Senior Vice President Communications Raimon Land PLC 22nd Floor, The Millennia Tower 62 Langsuan Road, Pathumwan, Bangkok 10330 Tel : +66 (0) 2651-9600 to 4 Fax : +66 (0) 2651-9614 E-mail : [email protected]