Condominium Project for Pattaya Given the Green Light

Dr. Suebpong Atichartakorn, Executive Director of Daika Estate Company said, “The condominium market in Pattaya is growing at nearly 10% each year. It is surprising to see that at the moment there are no high-end condominiums in the area yet. We have had the idea the build a luxury condo here for some time now and the economic situation is believed to be more stable next year so this is why we have given the green light for the condo to be built in 2010.”

Dr. Suebpong added, “The highend market in Pattaya is not very competitive with over 10 big projects being delayed this year because foreign investors delaying their decisions due to the weakening dollar against the Thai baht."

This luxury condominium will have at least 100 units with an average price of 80,000 baht per square meter.

The Daika Estate’s existing venture is also on Wong Amat Beach called The Sanctuary Wong Amat Condominium Complex. It is stretched out on a 9 Rai land, consisting of 200 units starting from 5 million baht per unit. The Sanctuary Wong Amat Condominium Complex is expected to be fully completed in February of next year. Even though the complex is still undergoing construction, they have sold 120 out of 200 units already.

With The Sanctuary Wong Amat Condominium Complex being so successful Dr. Suebpong also revealed that the company is also looking into entering the boutique resort and hotel industry within the next 2 -3 years.