With Pattaya at the forefront of gentrification, developers are not wasting any time to metamorphose this caterpillar of a city into a beautiful butterfly. The Tulip Group recently launched the Centara Grand Residence, Pattaya’s very first and only five-star branded condominium on Jomtien Beach. With the THB200 million (US$6.47 million) showrooms that include Fendi sheets and crystal chandeliers, the developers granted potential buyers a sneak preview of what the 283 private residencies could emanate with buyers’ own individualized specifications.
The Centara Grand Resort and Spa Jomtien will comprise of 200 rooms for guests while residents of the Centara Grand residence will have direct and immediate access to all of the hotel’s facilities such as state-of-the art fitness center and Spa Cenvaree. Founded in 2002, the Tulip Group’s CEO, Kobi Elbaz with partner Rony Fineman of the Nova Group Thailand have been developing luxury condominiums in both Bangkok and Pattaya. Past projects include The Cliff, Amari Residence Pattaya, and Novana Residence. The Centara Grand Pattaya is being developed under the Tulip Group Brand.
Aliwassa Pathnadabutr, managing director of CBRE Thailand said, “Most clients like the five-star and beachfront units. Some people think [Centara Grand Residence] is too far form downtown Pattaya, while others like the privacy.”
The THB2 billion (US$64.74 million) project will break ground in July 2012. With an expected three-year construction period, the Centara Grand Residence has already sold 62 units in the first tower. While competing five-star residencies are over THB200,000 (US$6,474) per psm, the units range in THB110,000 to THB150,000 (US$3,561-4,855) per psm and THB177,000 to THB200,000 (US$5,730-6,474) per psm for the penthouse.
The 20-rai plot of land located on pristine beachfront property is drawing European and American buyers based in Asia. “The key selling point to Thai buyers is that the Centara Grand Pattaya is the first, five-star branded serviced condominium in the area. After the flooding this past year, more people are looking to purchase condominiums in Bangkok and nearby provinces,” Pathnadabutr added.
Story from: www.pattayaEmagazine.com
