The development is estimated to be completed in 2015-2016 and Veranda is confident that the feedback will be as positive as ever. This project will consist of two parts, namely Veranda Residence Pattaya and Veranda Resort and Spa Pattaya. Construction work on the condominium will begin in mid 2014 and is expected to be completed in 2016, while the hotel will start construction early 2014 and will be finished around the end of 2015.
Verawat Ongvasith, President of Veranda Resort and Spa, said that the company had been very successful with its Veranda Resort and Spa and Veranda Sky projects in Hua Hin, and subsequently branched out to Chiang Mai with Veranda Chiang Mai the High Resort, and the luxury condominium project Veranda High Residence.
The latest addition was Sofitel So in downtown Bangkok, a hotel that combines the five natural elements – earth, water, wood, metal and fire – as the inspiration for its decorations, making it a new landmark on the corner of North Sathorn and Rama IV.
The reason for choosing Pattaya, according to Verawat, is the strategic location of the city and its potential for a high growth rate. Pattaya has a variety of attractions for both Thai and international tourists. Transportation is also convenient, and with the upcoming high speed train, it will be even more convenient and the demand for Pattaya will definitely rise, says the Veranda chief.
Verawat says he views the Na Jomtien area as an ideal choice for the development because it has a private beach and the area is not too crowded, but at the same time also not far from the city’s main facilities and attractions. But he confided that the beachfront land here is 2-3 times more expensive than inland areas.
“We decided to launch the Veranda Residence Pattaya project in the high season for the tourism sector. Our target group also includes previous customers and Veranda fans who love our design concepts, including expats, corporate clients, industrial estates, and Thai clients who buy condominiums for their holiday or for leasing. Their purchasing power is still high,” said Verawat.
The highlights of Veranda Residence Pattaya include the private, peaceful beach, convenient location near to the city center, and the unique design synonymous with Veranda. The units will be fully furnished and beautifully decorated with high quality materials, says Verawat.
The Office of Bangkok Architect Co., Ltd has been chosen to design this project and the interior furnishings will be overseen by the renowned August Design Company. Landscaping will be in the hands of the TROP Co., Ltd.
Since the condominium will be located right next to the resort, residents will also be able to enjoy the resort’s facilities such as restaurants, room service, bar, spa and swimming pools.
Veranda Residence Pattaya is located on a land plot of 4 rai, offering 360 units in total, ranging from one-bedroom to three-bedroom units, with functional space from 32 to 199 square meters. Prices start at 3.3 million baht. The project also offers four Pool Villas with functional space from 254 to 266 square meters, starting at 16 million baht.
Verawat says the company is continually looking to expand into new markets, both locally and internationally, but that in future the focus will be on hotel and resort development. Any future residential projects will depend solely on the location. The company is eyeing other holiday destinations such as Phuket, which has a high potential and growth rate similar to Pattaya and also attracts a lot of international tourists.
Aliwassa Pathanadabutr, Managing Director of CBRE Thailand, the project’s exclusive sales agent, has commented on the overall picture of the real estate, condominium and resort market in Pattaya, stating that the attraction of the city to both local and international tourists remains as robust as ever, and the soon to be opening Cartoon Network Amazone theme park will only add to this appeal. New developments have spurred the growth in the real estate and hotel business in the city, however, the high-end and luxury sector makes up only 10.3% of the industry and it is believed to have much more potential for further growth.