Riviera Group signs Construction Loan Agreement with Siam Commercial Bank

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Riviera Group signs Construction Loan Agreement with Siam Commercial Bank

Sukanya and Winston Gale - The Riviera Group (Left), Khun Thanawatn Kittisuwan - Vice President (Right), Khun Parnu Chotiprasidhi Multi-Corporate EVP (Far Right)

 

The Riviera Group, one of Pattaya’s leading Property Developers recently signed a Construction Loan Agreement with Siam Commercial Bank. 

 

Winston Gale, Owner of The Riviera Group said “This Loan is for the final construction Phase of The Riviera Jomtien.  Having worked with SCB for over 8 years now and I am pleased to see the trust between both parties continues on”. 

 

The high-profile 46 story High-Rise project located on Jomtien’s new 2nd road has been long viewed in the industry as a significant and important project with predictions of landmark status when complete by end of this year.

 

The Riviera Jomtien will boast both cutting edge architecture and 5 Star hotel-design qualities, now demonstrated in their Multi-Award Winning Flag Ship project The Riviera Wongamat, which was completed last summer.   

 

Left to right, Khun Anol Eaksil Chonburi Regional Manager , Sukanya, Khun Sommai Ungrithong Project Director,  Khun Suparp Kuhapensaeng Relationship Manager, Mr. Sontichai Sinchaipanid SVP, Credit Product

 

[mikebell]

46 storeys! How many new condos will hit the already saturated market?  Can the Russians buy them all?

[baansgr]

Its looking very nice but at 100k sqm and with vacant land in front.....who knows whats gonna be built in the future between Riviera and the beach..

[JSixpack]

2 hours ago, mikebell said:

46 storeys! How many new condos will hit the already saturated market?  Can the Russians buy them all?

 

Kinda says something that you've not noticed any Chinese around. But we still do have Western migrants as well, contrary to the narrative.

 

[Kadilo]

46 storeys! How many new condos will hit the already saturated market?  Can the Russians buy them all?

I had a unit here and sold it for a profit to a Chinese lady. The Chinese are buying any that become available and I've had no end of agents asking me if I still have mine.
Part of me regrets selling it, as it's a lovely development.


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[baansgr]

16 minutes ago, Kadilo said:

I had a unit here and sold it for a profit to a Chinese lady. The Chinese are buying any that become available and I've had no end of agents asking me if I still have mine.
Part of me regrets selling it, as it's a lovely development.


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I think its lovely but as stated main concern is the vacant land in front, also if all are being sold as become available, it begs the question why do Riviera require further borrowing to complete the final stage

[Kadilo]

1 minute ago, baansgr said:

I think its lovely but as stated main concern is the vacant land in front, also if all are being sold as become available, it begs the question why do Riviera require further borrowing to complete the final stage

Fair point. I am only saying why I have experienced. A friend of mine has also sold to Chinese and is constantly being  asked. 

We did have high level sea facing units so maybe there are a lot of unsold at the lower levels and front facing. I’m not sure. 

Money of my concerns was the land you mention as you see it many times how a lovely development gets ruined by later building. 

[newnative]

23 minutes ago, baansgr said:

I think its lovely but as stated main concern is the vacant land in front, also if all are being sold as become available, it begs the question why do Riviera require further borrowing to complete the final stage

    Riviera will collect most of the money, and its profit, when the building is finished and the units transfer.  Right now, the buyers are likely making periodic minimum payments and the bulk of what they owe will be paid at closing.  So, the construction loan fills the time gap until the units are fully paid for at transfer.