Construction on Kingdom Property’s Southpoint condominium in the Pratumnak Hill area of Pattaya is currently moving forward on schedule. The 30-storey “Residences” tower has reached level 16, reports the developer at a recent media visit. The exterior façade is expected to be 50 percent complete by Q3 2014. Also, unit fit-outs are commencing on the lower floors.
The luxury development was launched around May 2012, and construction began a year later. The project is rising by the week; it is expected that the first tower will be topped out by September, with completion of structural work on the second “Suites” tower to follow in January 2015.
Despite the recent political events in Thailand, Southpoint sales have remained steady says Kingdom Property’s CEO, Nigel Cornick. “Sales at Southpoint have already reached about 67 percent of the total units available and despite the last few months having not been so conducive to attracting international investors, we are confident that the real estate market will pick up again as we approach the high tourist season.”
He added, “We saw a large amount of interest from Chinese investors up until about October last year, and once things settle down here, from a political standpoint, we are sure the Chinese will return as they have a lot of capital to invest in real estate here in Thailand.”
Prices are currently around THB 2.5 million for a studio; THB 3.5 million for a 1-bedroom unit; and THB 5 million for a 2-bedroon unit.
