The owner of the project is Tulip Group, the name behind some of Pattaya’s leading projects in prime locations. Chief executive Kobi Elbaz said, “We are solely concerned with bringing to the Pattaya and Jomtien area the ultimate standard in luxurious living in a resort environment. The new catchment is the new group of high-end buyers who are looking for exclusivity in a high-rise, beachfront residence within easy travelling distance of Bangkok.”
200 million baht showroom
When finished in 2015, the project will feature 283 residential units of various sizes, up to the 500 sqm penthouse with seven bedrooms, spread throughout two towers. The grand opening on February 4 will feature the much-vaunted 200 million baht showroom which is surely the largest and most expensive ever featured in Thailand. This kind of expenditure, according to company vice president Jason Payne, is essential to demonstrate the lifestyle envisaged for investors and to illustrate the stature of Tulip Group which is most certainly ploughing new fields in Pattaya’s diversified property world.
The combination of mixed-use, luxury high-rise oceanfront condominium with the hotel facilities – which will comprise the third tower - is certainly a breakthrough in the local building market. Apart from the wide range of facilities, which include lush tropical landscaping and floating pavilions amongst many other features, all residential and hotel units face the sea and, of course, the fabulous sunset. The project benefits from a wide 150 meter beach frontage. “Our aim,” confirms Kobi, “is to create a lifestyle with close attention to every detail.”
Breaking new ground
The sole agents are CB Richard Ellis who believe Centara Grand Residence is the most exciting high-end development ever seen in Pattaya. “There is growing interest for high-end property in the city,” says CBRE managing director Aliwassa Pathnadabutr. “During the economic crisis developers in Pattaya weren’t confident and played safe by building smaller units. That’s why 70 percent of existing stock is mid-range. Centara Grand Residence is breaking new ground and will attract the high-end buyer.”
Much early interest in the project has been from Thai, Russian, Hong Kong and Australian nationals who are mostly long-term investors and end-users. But there is never any shortage of up-scale customers looking for the ultimate beachfront experience. Vice President for Tulip group Jason Payne has every confidence that Tulip Group is tapping into the exclusive market of the future
“The evidence is already overwhelming from our market research that this is our opportunity to open Pattaya to a new and high-spending market,” he says.
Waterfront at the forefront
Tulip Group’s commercial decision to breathe life back into a defunct Pattaya waterfront project is another groundbreaker in the property stakes. The site at Bali Hai was bought only a few months ago and low-key marketing began in September after all the debts incurred by the previous owners had been settled.
Formally named Waterfront Suites and Residences, the top-end project is likely to become synonymous with Pattaya in the same way that Marina Bay Sands represents Singapore or the Burj al Arab represents Dubai, according to Kobi. The partner in the project is Park Plaza hotels Europe which will be integrating a hotel with first class service into the project.
World Class Marina
Construction has now begun on the 50 storey mixed-use condominium and hotel, bringing the reassurance that the iconic and luxurious concept will be built next to the Bali Hai pier and the famous neon Pattaya sign which overlooks the whole city. It is a great bonus to Waterfront Suites and Residences that City Hall has announced that a world-class marina is to be constructed close to the new Tulip Group project.
Location is ideal. Within walking distance of the vibrant Walking Street, yet secluded enough for tranquillity and hassle-free access, the islands of Koh Larn and Koh Sak are a short speedboat or ferry ride away. Public interest in Waterfront has exceeded even Tulip Group’s expectations. With the high season already here, the project could be fully sold out without an official launch. In other words Pattaya is still a hot-bed for buyers looking for a high-end property investment adjacent to the sea.
It is a platitude in the real estate market to say that location matters. However, Waterfront can surely boast one of the best in town with guaranteed sea views regardless of the chosen floor. Meanwhile, inside the residence, there will be finishes made of imported marble and granite, custom-designed kitchens and spacious floor-to-ceiling windows offering incomparable views of both the Gulf of Thailand and downtown Pattaya in all its diversity.
Impact of flooding
The recent flooding disaster in Bangkok and the Central Plains seems to have had the consequence of bolstering the high-end condominium market in Pattaya. There was a great influx of visitors to the city, especially Bangkokians, who could see first-hand the merits of Pattaya as a perfect weekend-retreat haven.
A new beginning
Although Tulip Group has wide investment interests in the city, the three projects at Centara Grand Residence and Waterfront and Centara Avenue Residence and Suites show complete confidence in up-market projects in prime positions. As Pattaya continues to re-invent itself every few years, it’s clear that the diversification of the city – away from its sole reliance on night life 10 years ago – is continuing apace. There has already been the establishment of niche markets, such as sports facilities and conferences of every description, and a booming build for families, retirees and professionals which has staggered onlookers and commentators alike. Now Tulip Group is promising to include the very top-notch constructions to cater for the wealthy investor in the novel environment of a mixed-use condominiums and luxury hotels.
This development had long been forecast, but Tulip Group is building its reputation on actually delivering the goods.
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Luxury Property Developers of Hotels Resort and Condominiums in Thailand
Tulip Group is partnering with the largest Hotel chain in Thailand “Centara Hotels and Resorts” and the world renowned Park Plaza Hotels Europe. These powerhouse partnerships will allow Tulip group to build and develop not only amazing Condominiums but also superb world class hotels.
Going forward Tulip Group will continue to develop and work in this way, by being pro-active and acquiring only prime land sites and partnering with only the best in the industry to ensure that their projects are delivered to a world class standard, with and international standard of design and construction.