By Andrew Batt:
Kingdom Property has received Environmental Impact Assessment (EIA) approval for its landmark Southpoint condominium project in Pattaya.
"We are delighted to achieve the go ahead for the project having gone through the rigorous EIA procedure and we are now looking forward to building an outstanding condominium development," said Nigel Cornick, CEO of the company. "We have a dedicated team with an impressive track record and will be announcing our construction partner soon."
"Early sales interest in the project has been very strong – particularly from Thailand and key tourist nationalities such as Russian and Chinese – and we are very confident in the success of Southpoint, and in the strength of the destination. As of today we are officially open for pre-sales.”
Southpoint Pattaya is located a short distance south of Bali Hai in Pattaya City, on an elevated site on Pratumnak Hill, offering extensive sea views and within walking distance of the Royal Varuna Yacht Club. The THB2.5 billion-valued development is on a four rai freehold plot and will be completed in 2015.
Project finance to build the 672-unit condominium has been provided by Krung Thai Bank, Thailand’s largest financial institution, for which the site has already been cleared with construction scheduled for the first quarter of 2013.
Andrew Batt, International Group Editor of PropertyGuru, wrote this story. To contact him about this or other stories email andrew@allproperty.com.sg
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