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Pattaya - April 2008
Thailand’s tallest condo tower gets go ahead
by Robert Carry -
Thailand Property Report
Work is about to begin on what will be Thailand´s
tallest condominium tower as the Environmental Impact
Assessment (EIA) submitted by the developers Ocean Tower 1
has finally been accepted and a building permit issued.
Work on Siam Best Enterprise Company´s Bt12 billion tower,
which will be constructed at Pattaya´s Jomtien Beach, is
scheduled to kick off at the end of March 2008.
“We planned to break ground last year,” said Bruno Pingel,
the company´s chief executive. “The EIA approval took
longer then estimated, due to the complexity of the
tower.”
He continued, “The fact that it was such a thorough,
exhaustive and professional exercise is very reassuring as
regards the future standards and quality control of all
high-rise developments.”
The development´s sales manager, Rob Astbury added, “If
there is one thing that has emerged from this whole
exercise I suggest it is this – we cannot control future
property development, but we now know the quality and
credentials of high-rise developments will be scrutinised
to the utmost degree.” He continued, “We have no doubt our
perseverance and confirmation by the EIA will see plans
for other similar projects emerge in the near future.”
Unit in the 91-storey 327m tower are priced at Bt137,500
per sqm on floors 10-14, Bt143,000 per sqm on floors 15-50
and Bt148,500 on floors 52-85. Studio apartments in the
tower are priced at Bt143,000 per sqm throughout. However,
the developer has already raised costs on seven occasions
to date, and is expected to do so again once construction
is underway.
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