Pattaya's Waterfront condohotel project has been restructured with new Israeli investors stepping in to the rescue.
The news come via media outlet Property Report South East Asia saying the 52 floor tower will hit the market with a combination of 315 condos and 100 hotel units.
As the project previously had purchasers and defaulted, buyer's funds have been returned accorded to the new development group.
A new name, Park Plaza Waterfront Pattaya has been selected for the new launch.
Condo activity in Pattaya remains at the highest level in the country after Bangkok, and a number of new projects are expected to hit the pipeline in the next few months.
Despite Thailand's Escrow Act initiative, property developers have been slow on the take up.
Many real estate players have cited the restrictive environment and limited appointment of approved escrow institutions with large fees being a barrier to entry.
For others consumer demand simply has not been a reason to get off the bench and onto the playing field.
Reading a recent Bangkok Post article news comes that six Bangkok developers and a Kasikornbank are initiating a new scheme.
Unfortunately for Phuket's overseas buyers, the escrow act is tailored for freehold properties and looks to offer little for foreigners purchasing leasehold villas or apartments.
While escrow remains a fundamental element of property transactions in most developed markets, it's sad to see the absence of it here on the island.
In a blended hospitality led residential offering Thailand's Amari group are launching a new serviced condominium in Pattaya.
Located on the Cozy Beach stretch pricing points are set at an attractive THB2.7 million level.
Amari's Residences project in Hua Hin proved to be a bit hit with buyers and expectations are high for the new Pattaya project and one located in Phuket's Patong area to also attract strong market interest.
Hong Kong Entrepreneur Allan Zeman is rolling the 13 ultra villa estate Andara Signature.
Located on Millionaires Mile near to Ayara Kamala, the offering has been eagerly anticipated by the marketplace.
Villa plots will range from two to three rai, and built up areas are luxuriously spacious with 2600 square meters of living space.
Anxious investors are expected to snap up the offering, given the spectacular capital appreciation of the first project. The Andara-effect saw a number of resale's double in value .
Details on pricing and availability will be available for high season.
Meanwhile the second Plaza Surin boutique shopping mall will be coming on the market soon with over 60 upscale retail shops that are expected to command high demand and premium pricing.
Construction has commenced on a new lifestyle retail mall called Banana Walk in Patong.
Located on nearly 3 rai of prime beach facing property, the complex will have 30 shops, five restaurants and a series of rooftop outlets,
The develop is being headed by the owners of the Patong Hotel and famed Banana Disco.
Indigo Real Estate have been appointed as leasing agents for the project and assisted in the project conceptualization.
Completion has been slated for May 2012.
Here's one to add to your hot list – Roomorama.com.
Short stays are features and the group which already has a strong following in the US is actively looking to grow in Asia.
Non-traditional accommodation such as condos, apartments and villa are the key offering with a number of Thailand properties already being featured.
Clearly the site is out to level the playing field against hotel and allowing this type of product a wider audience.
Check it out at <link>http://www.roomorama.com*CLICK</link>
Leading Thai real estate developer Sansiri is launching a large THB560 million residential project in Kathu named dcondo.
The group has aggressively been promoting projects in the low priced segment and is one of a growing number of large listed firms targeting Phuket.
Others include Land & Houses, Pruska and Supalai.
There has been a flurry of transactions on larger inland greenfield properties this year as Bangkok groups have been scouring the island to build up larger land banks as the forecast for entry level domestic grade projects remains high.
This year's AOCAP event in Bangkok had a good turnout with 135 in attendance at the Shangri-La Bangkok the past two days.
Speaking yesterday I recognized many familiar faces in the audience from both Asia, Australia and further afield.
Next year the venue will be shifting to Hong Kong and has been slated for October 8th and 9th just prior to Asia's biggest hotel investment event HICAP.
A Thailand industry forum titled Real Estate Investment & Law Update 2011 will be held October 20-21st at The Plaza Athenee In Bangkok.
Wide ranging topics will include a look inside the effects of the upcoming Asean Economic Community (AEC) initiative on liberalizing investment into the country, updates on the foreign business act, property and development taxation and the hospitality industry.
Experts from Baker & McKenzie (Thailand), Real Estate Information Center (REIC), BDO, Nexus, Colliers and C9 Hotelworks will be conducting sessions.
For more information <link>http://www.bmn.co.th/*CLICK</link>
