Habitat Group is set to launch a low-rise condo project in Pattaya and a luxury housing development in central Bangkok before the end of the year, according to local media reports. The company is confident that the real estate market in Thailand is rebounding with buying expected to pick up.
“Habitat Group believes that our business performance in the 2nd half of this year will go better with the government’s clear-cut economic and investment policies, which will enable entrepreneurs to invest and focus on their investment as planned. Moreover, the rising number of tourists, particularly those from China who have a tendency to purchase properties for investment purposes, make up one of the most interesting target groups,” says Chanin Vanijwongse, Chief Executive of Habitat Group, to the Nation.
X2 Pattaya Oceanphere
The Pattaya project will be a low-rise condo in the Wong Amat district valued at THB800 million. Habitat Group is scheduling its launch for the 4th quarter. The developer already has 6 other projects being built in the region including X2 Pattaya Oceanphere and Best Western Premier Bayphere Pattaya.
U Tapao Rayong-Pattaya international airport
“Pattaya remains one of our strategic locations as it has huge potential for growth, driven by the rising number of tourist arrivals with an average occupancy rate of 78 per cent 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 Rayong-Pattaya international airport, which aims to boost passenger numbers to 1.2 million this year from 700,000 last year,” says Chanin.
Habitat Group’s other project will be a luxury residential development located on Soi Ruamrudee. The upscale project is valued at THB250 million. The company hopes that being in a prime location in central Bangkok will help make it attractive to both local and international buyers looking to purchase real estate.
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