PRLog - Dec. 14, 2011 - PATTAYA, Thailand -- It is the dawn of a new era for the Pattaya property market with the development of Centara Grand Residence at Na Jomtien, a high-rise oceanfront development and a unique mixed use residential and hotel project that will be managed by Centara Hotels & Resorts.
Centara Grand Residence Pattaya
For the first time in Pattaya investors will have the opportunity to own luxurious condominiums enriched with five-star hotel facilities and services. This is expected to attract a new group of high-end buyers who are seeking exclusive a high-rise beach front residence within easy reach of Bangkok.
Tulip Group CEO, Kobi Elbaz, says Pattaya is primed for this new trend in luxury.
“Our goal is to give the buyer the feel that they are living in a resort”, he says.
Centara Grand Jomtien will cover 20 rai which is equivalent to 32,000 square meters of prime land with 150 meters beach frontage.
“Only 27.5% of the land is being used for the construction,”
Taking shape on the Na Jomtien site of the project is proof of the developers commitment to high end luxury with no expense spared. The 200 million Baht showroom is both the largest and the most expensive ever built in Thailand.
"It was necessary to spend this amount to get investors to embrace the lifestyle and show the stature of the company,“ says Jason Payne, Vice President of Sales and Marketing at Tulip Group. “Everything has been thought out from the arrival to entering the suites. It’s a lifestyle rather than just a building”.
The head of CB Richard Ellis agrees.
"A showroom on this scale is very important," says Aliwassa Pathnadabutr, Managing Director of CBRE. “It projects confidence to the buyer and is a statement of the developer’s commitment to the project to make an investment on this scale."
CBRE has sole agency for the new project and believes its the most exciting high-end development ever seen in Pattaya.
"There is growing interest for high end property in Pattaya," says Aliwassa. “During the economic crisis developers in Pattaya weren't confident that they could sell large units so they played safe by building smaller units. This is why 70% of existing property supply is midrange. This property is breaking new ground and will attract the high end buyer."
According to CBRE there is a limited supply of beach-front land in North and even Central and South Pattaya which is why developers are looking at Jomtien to find quality beach front land.
“What attracted us to being sole agent is that this will be the first true luxury property in Pattaya, not just in terms of price per square meter but also in terms of product, unit size, the quality of the construction and the services provided”.
"There are numerous features that I like about the project," Aliwassa says. "The most significant has to be wide beach frontage. The high end market demands something exclusive, privacy and a quiet beach. I am also impressed by the outstanding architecture and design, spacious units with a variety of options choose from. Branding with Centara Grand Hotels & Resorts adds value because of the hotel-style service and management which is not available in a ‘non-branded’
"Its exciting for us at CBRE Thailand to work with people like Tulip," she adds, " as they are keen to develop a high end property and are not prepared to compromise on quality which is something I don't see with other developers."
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Luxury Property Developers of Hotels Resort and Condominiums in Thailand
In addition to our wide array of Luxury Condominiums, Office buildings and Cultural centers throughout the world we are currently building our own group of Hotels, We are proud to announce that in July 2012 we will open our own 5 Star Centara Grand Hotel on Pratanmak Hill. This stunning property is currently under construction and will be a fantastic addition to this very popular area for holidaymakers looking for a high end hotel with world class facilities
We are working on various other Centara branded hotels which we will announce to the market shortly. Our relationship with powerhouse hoteliers extends also to our working relationship with Holiday Inn, and details are being finalized for a number of Holiday Inn Express branded properties in Pattaya, all built and managed by Tulip Group. We also plan to launch our own Tulip Boutique collection in late 2012.