Southpoint Pattaya, Kingdom Property’s first condominium development in Pattaya, has taken a major step forward following the securing of project financing from Krung Thai Bank.
The new THB 2 billion condominium development will take shape on a four-rai freehold plot In the Pratumnak area and will complete in 2015.
Nigel Cornick, Kingdom Property’s Chief Executive Officer, said: “In granting this financing Krung Thai Bank has demonstrated their faith in Kingdom Property’s management and as a developer with the skills and experience required to deliver a condominium project of this magnitude.”
Krung Thai Bank Senior Executive Vice President Corporate Banking Group 1, Jaree Wuthisanti, said the bank was confident the project would be a success given the strong fundamentals of the destination and the developer.
Cornick said he recognised the huge potential growth opportunities for real estate development in Pattaya as early as 2004, in particular quality condominium projects in prime locations. This resulted in the development on Northshore and Northpoint, regarded as two of the leading developments in the city, when he was with listed developer Raimon Land.
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