Aimed at high-end customers, total investment of these residential development projects surpasses one billion baht Being optimistic about upscale property market that will go well in the second half of this year, Habitat Group is working on its plan to launch two new big projects in the second half of 2017, including a low-rise condominium within Pattaya in Wongamat area and a luxury housing development in Bangkok’s highly desired Ruamrudee area. The total investment value of the two projects is higher than one billion baht.
Mr. Chanin Vanijwongse, Chief Executive Officer of Habitat Group Company Limited, one of Thailand’s leaders in premium property development for investment, declared on the progress of the company’s investment in the second half of 2017, “We are on track to add new projects totaling 2.5 billion baht to our investment portfolio. Focusing on prime locations in the neighborhood of Pattaya, there are six premium residential projects for investment are well underway and all of these projects guarantee a rental return of 7% for the first five consecutive years. Additionally, owners of each property will have the right to utilize their property for a complimentary free stay for 14 days, along with full benefit of professional property management service by a world-class hotel chain with international presence and reputation”.
In the first half of 2017, Habitat Group has continued to develop its new property projects in Pattaya, which include X2 Pattaya Oceanphere, Best Western Premier Bayphere Pattaya and Bluphere Pattaya Managed by BW Premier Collection. An averages of more than 70% of these units were sold. Other successful projects include X2 Vibe Pattaya Seaphere which was sold out within the first six months after launching and it will be operated as a hotel by the end of this year. Another project is The Ville Jomtien which is the company’s first project that was 100% sold out within two year and it has been already joined the investment program since 2015.
“Pattaya remains one of our strategic locations as it has huge potential for growth, driven by the rising number of tourist arrivals with average occupancy rate of 78% in 2016 and no apparent low season. Additionally, the government will invest in mega projects in the Eastern Economic Corridor covering Chonburi, Rayong and Chachoengsao and an upgrade of the U-Tapao airport, which aims to boost passenger numbers to 1.2 million this year from 700,000 last year. The Sattahip commercial port will be developed to support East-West transport in order to reduce travel time to 1-2 hours, and a new motorway to Rayong . All of these factors will provide a positive effect especially in terms of drawing a double number of visitors and
investors to the region. However, these factors cause rising land price in Pattaya too, especially in Wongamat and Na Jomtien areas where many real estate developers are highly interested in. Fortunately, we have plots of land in these two strategic areas in preparation for near-future business expansion and we are very confident that our products will meet the needs of our clients both in terms of investment and tourism,” said Chanin.
Regarding the plan for the second half of 2017, Habitat Group plans to launch two new projects with a total investment of more than one billion baht. The first one is situated in a strategic location of Pattaya, which feature a 192 unit low-rise condominium within one rai plot of land in the Wongamat neighborhood. This 800-million-baht project is scheduled for launch in the fourth quarter of 2017. The second one is a 250-million-baht luxury residential project on half rai plot of land in one of Bangkok’s most preferred locations of Ruamrudee. The company believes that both projects will receive a very positive feedback from customers because luxury residential units, especially in the heart of Bangkok CBD, remain in high demand among local and international buyers.
“Habitat Group believes that our business performance in the second half of this year will go better with the government’s clear-cut economic and investment policies which will enable entrepreneur to invest and focus on their investment as they have planned. Moreover, the rising number of tourists, particularly those from China who have a tendency to purchase properties for investment purpose, is one of the most interesting target groups. We project that our pre-sale revenue will surpass 1.5 billion baht in 2017, and have 20% growth in rental income by the next three years. With these, we are confident that we generate and provide buyers with high return of investment as expected,” said the CEO.