No Sails

[suiging]

]So dont lecture me, I have my degrees and they are surely good ones.

No lecture intended. This is a debate, you have your views, other folk have theirs, simple as that. You received a reply as you said you didn't understand my " logic ".

Sorry if you thought it was in any way personal, it was not. However, I think you will often get contra views to your own on here, that's the fun of it.

Edited October 2, 2007 by suiging

[JMS]

I was trying to say that a project with great international exposure was goog for Patters in the long run. Deserted construction sites with more "Thai construction company rips off clients" press coverage, does nothing for local business on any level. You alluded to that in your reply.

It is not the Thais ripping people off. It is the farang developers doing that

[farangfool]

]So dont lecture me, I have my degrees and they are surely good ones.

No lecture intended. This is a debate, you have your views, other folk have theirs, simple as that. You received a reply as you said you didn't understand my " logic ".

Sorry if you thought it was in any way personal, it was not. However, I think you will often get contra views to your own on here, that's the fun of it.

My remark was not directed at you but at the other person with economics 101 remarks. As JMS in his other post stated, some farang companies are a problem and I m not surprised that many Thais feel bitter how they are pushed out. Talk to some 'average' Thai person and you might get a sense of what I refer to.

[JaiDeeFarang]

All banks at this time are re-evaluating their position and this is going to hit the building industry hard, expect to see many more projects canceled

I am not sure Raimon Land would agree with you with their 2 new projects. Neither do I think Ananya or Ocean 1 Tower would agree. (I hope not, cause I invested there )

As long as Pattaya is within few hours reach of China and India (2.4 billion people) then I feel pretty safe investing here in sin city and I don't expect Pattayas property marked to ever crash. (actually I silently hope for a crash to we can buy some cheap sea front condos )

Which year is the "excuse" clause that allows the developers of Ocean 1 to give you your deposits back with no interest ? How much will they have made just lending your cash out on the overnight markets for all that time ? Do you still reckon they are going to build 91 floors next to Jomtien Beach with that tiny access road etc.

Ocean Tower 1 got final approval.

http://www.pattayacitynews.net/news_01_10_50_2.htm

Still hasn't got an EIA apparently, only a building permit

[Goldbug]

Investors should not be alarmed at the current slow progress with The Sails in Jomtien. Lehman Bros has taken the project from Grande Asset and provided all the funds needed to complete the work by the end of next year. A world class, reputable project management team is now in charge of the project and they are currently selecting a highly respected general contractor to complete the work under a new accelerated project schedule. Expect to see the cranes back on site next month and construction proceeding urgently.

Sounds like an ad from the company. Could you identify the source of your information and also state your own interest? How do you define world class, reputable etc. in connection with the previous arrangements. Do you imply that they were not reputable?

Selecting a new contractor and "cranes back on site next month" signify not slow progress but standstill, right? So are you using misleading language on purpose?

I have just heard from Grande Asset Hotels and Property (the Group that have taken seven projects from Grande Asset (including the three delayed ones) with a 10 billion Baht re-financing package) and that US project managers CM&D have been retained to professionally complete all projects to the highest international luxurious standards.

The aim of GAHP is to be widely and favourably recognized as one of Thailand's leading integrated hotel owners and property developers...., with performance measured in design, construction and strict quality control that will ensure all customers get what they are promised.

GAHP says it is positioning itself to condominium and villa buyers and hotel guests as upscale asset providers which will increase returns on investments, and offer the alliance with the very best five star hotel groups to guarantee exceptional comfort and service standards.

I understand that Le Meridien Pattaya Resort has asked for some design improvements to the structure and start of construction is now slated for the second quarter 2008

I am a patient investor in The Sails Pattaya.

[sweetchariot]

Investors should not be alarmed at the current slow progress with The Sails in Jomtien. Lehman Bros has taken the project from Grande Asset and provided all the funds needed to complete the work by the end of next year. A world class, reputable project management team is now in charge of the project and they are currently selecting a highly respected general contractor to complete the work under a new accelerated project schedule. Expect to see the cranes back on site next month and construction proceeding urgently.

Sounds like an ad from the company. Could you identify the source of your information and also state your own interest? How do you define world class, reputable etc. in connection with the previous arrangements. Do you imply that they were not reputable?

Selecting a new contractor and "cranes back on site next month" signify not slow progress but standstill, right? So are you using misleading language on purpose?

I have just heard from Grande Asset Hotels and Property (the Group that have taken seven projects from Grande Asset (including the three delayed ones) with a 10 billion Baht re-financing package) and that US project managers CM&D have been retained to professionally complete all projects to the highest international luxurious standards.

The aim of GAHP is to be widely and favourably recognized as one of Thailand's leading integrated hotel owners and property developers...., with performance measured in design, construction and strict quality control that will ensure all customers get what they are promised.

GAHP says it is positioning itself to condominium and villa buyers and hotel guests as upscale asset providers which will increase returns on investments, and offer the alliance with the very best five star hotel groups to guarantee exceptional comfort and service standards.

I understand that Le Meridien Pattaya Resort has asked for some design improvements to the structure and start of construction is now slated for the second quarter 2008

I am a patient investor in The Sails Pattaya.

Shouldn't that read employee? Or maybe partner?

[basjke]

Investors should not be alarmed at the current slow progress with The Sails in Jomtien. Lehman Bros has taken the project from Grande Asset and provided all the funds needed to complete the work by the end of next year. A world class, reputable project management team is now in charge of the project and they are currently selecting a highly respected general contractor to complete the work under a new accelerated project schedule. Expect to see the cranes back on site next month and construction proceeding urgently.

Sounds like an ad from the company. Could you identify the source of your information and also state your own interest? How do you define world class, reputable etc. in connection with the previous arrangements. Do you imply that they were not reputable?

Selecting a new contractor and "cranes back on site next month" signify not slow progress but standstill, right? So are you using misleading language on purpose?

I have just heard from Grande Asset Hotels and Property (the Group that have taken seven projects from Grande Asset (including the three delayed ones) with a 10 billion Baht re-financing package) and that US project managers CM&D have been retained to professionally complete all projects to the highest international luxurious standards.

The aim of GAHP is to be widely and favourably recognized as one of Thailand's leading integrated hotel owners and property developers...., with performance measured in design, construction and strict quality control that will ensure all customers get what they are promised.

GAHP says it is positioning itself to condominium and villa buyers and hotel guests as upscale asset providers which will increase returns on investments, and offer the alliance with the very best five star hotel groups to guarantee exceptional comfort and service standards.

I understand that Le Meridien Pattaya Resort has asked for some design improvements to the structure and start of construction is now slated for the second quarter 2008

I am a patient investor in The Sails Pattaya.

We're now half way in the second quarter,they must be busy on the site from the sails I guess.Anyone seen some cranes yet?

By the way it looks like the area is a bit doomed because their neighbour on the north side,sunset village I thought is the name,is a ghost town for years already.

[basjke]

We're going up to the 3rd quarter now,any movement yet on the site of the sails.Just read that lehman bros is in big liquidity problems.By the way how is white sands going.Goldbug seems to be very quite indeed.

[prospero]

<br />We're going up to the 3rd quarter now,any movement yet on the site of the sails.Just read that lehman bros is in big liquidity problems.By the way how is white sands going.Goldbug seems to be very quite indeed.<br />

<br /><br /><br /><br /><br />The Dow fell almost 400 points today, the world's largest economy is in recession, the value of property in the US and UK is the lowest since WWII, tens of thousands of people have seen their investments in property go down the toilet, huge financial companies are going belly-up, trillions of dollars of wealth have been destroyed, Thailand is in the midst of another political crisis, yet Pattaya Will Prosper!! <br /><br />Gimme a break!<br /><br /> Edited June 7, 2008 by prospero

[beginner]

[ the value of property in the US and UK is the lowest since WWII,

Do you have some evidence of this?

Are you saying that the current value of UK housing stock (around 4.6 trillion Halifax or 3.96 billion Government Blue Book) is as low as any figure since 1945?

Hyperbole is fun but if one is concerned with accumulating wealth rather than just a home; according to your toilet flushing statement, this could be the best time since 1945 to buy property.

Pattaya will survive and prosper. Capitalist creative destruction will continue and the sun will rise again tomorrow.

Hello VT7, Hello Ocean 1. Hello Northpoint. Hello Hilton Towers. Farewell to the old and run down and decrepit. You served us well but now its time to embrace change and enjoy the pleasures of the new.

Welcome all and many more projects presently going through their birth pangs, Welcome to the real world of human creativity, endevour and progress.

[prospero]

<br />

[ the value of property in the US and UK is the lowest since WWII,

<br /><br />Do you have some evidence of this?<br /><br />Are you saying that the current value of UK housing stock (around 4.6 trillion Halifax or 3.96 billion Government Blue Book) is as low as any figure since 1945?<br /><br />Hyperbole is fun but if one is concerned with accumulating wealth rather than just a home; according to your toilet flushing statement, this could be the best time since 1945 to buy property. <br /><br />Pattaya will survive and prosper. Capitalist creative destruction will continue and the sun will rise again tomorrow.<br />Hello VT7, Hello Ocean 1. Hello Northpoint. Hello Hilton Towers. Farewell to the old and run down and decrepit. You served us well but now its time to embrace change and enjoy the pleasures of the new.<br />Welcome all and many more projects presently going through their birth pangs, Welcome to the real world of human creativity, endevour and progress.<br />

<br /><br /><br />

There certainly is destruction. I don't know about the creative part.

http://www.realestateabc.com/outlook/overall.htm

I do know there was a huge property bust in Pattaya, in fact, in all of Asia, about ten years ago. Many buildings never got finished. A lot of happy idiots who thought they would be accumulating wealth were flushed down the toilet. Many of them probably listened to hyperbolic spinners of fantasy like you.

Hello lots of broken dreams and empty wallets. There's a sucker born every minute.

The real world of "human creativity, endeavour, and progress" has little to do with erecting tacky monstrosities by the sea.

[lotus eater]

We're going up to the 3rd quarter now,any movement yet on the site of the sails.Just read that lehman bros is in big liquidity problems.By the way how is white sands going.Goldbug seems to be very quite indeed.

Your source or evidence?

Lehman's set a timetable last year as follows: complete financing for Sails by summer/autumn, restart construction by december. If there is another slippage on that timetable, then will be the time for serious concern.

Secondly, why has there been no news of buyers enforcing (or trying to enforce) their rights under the contract to demand delay penalties or their deposit back? Presumably because the investment is seen as still far from endangered.

[prospero]

<br />

We're going up to the 3rd quarter now,any movement yet on the site of the sails.<u></u><b><i>Just read that lehman bros is in big liquidity problems.</i></b>By the way how is white sands going.Goldbug seems to be very quite indeed.

<br /><br />Your source or evidence?<br />Lehman's set a timetable last year as follows: complete financing for Sails by summer/autumn, restart construction by december. If there is another slippage on that timetable, then will be the time for serious concern.<br /><br />Secondly, why has there been no news of buyers enforcing (or trying to enforce) their rights under the contract to demand delay penalties or their deposit back? Presumably because the investment is seen as still far from endangered.<br />

<br /><br /><br />

From today's Associated Press:

"Financials have become the kid that brings home a bad report card," said Chris Johnson, president of Johnson Research Group in Cincinnati. "Once they bring home C's and D's, you watch that kid closely week to week. If they bring home A's, you only really care once a quarter."

Johnson was among many investors who thought the sector appeared to have bottomed in March when JPMorgan Chase & Co. rescued Bear Stearns from the brink of collapse. Now there are worries that Lehman Brothers Holdings Inc. is facing a serious cash shortage.

'"The investment bank has denied it's short of money, though said a spokesman said it continues to examine options to increase capital through an outside investor or stock issuance."

From today's International Herald Tribune:

"Over the 12 months through April, the median price (of American homes), adjusted for inflation using the consumer price index, fell 12.2 percent, the largest decline in the history of the data, which goes back to 1969. Until the current cycle, the largest such decline was 6.7 percent in the 12 months through December 1990, another time when financial institutions were reluctant to lend and the economy was weak."

From this week's Thailand Homes & Condos:

"It's real simple 'boys and girls' ... things are NOT getting better and if something doesn't happen real soon, we are going to find ourselves with a skyline of 'half built condo towers' and scandalous headlines and television storylines about foreign investors lost money across the globe."

Caveat emptor.

[basjke]

We're going up to the 3rd quarter now,any movement yet on the site of the sails.Just read that lehman bros is in big liquidity problems.By the way how is white sands going.Goldbug seems to be very quite indeed.

Your source or evidence?

Lehman's set a timetable last year as follows: complete financing for Sails by summer/autumn, restart construction by december. If there is another slippage on that timetable, then will be the time for serious concern.

Secondly, why has there been no news of buyers enforcing (or trying to enforce) their rights under the contract to demand delay penalties or their deposit back? Presumably because the investment is seen as still far from endangered.

My source?Read the financial papers it is all over it since a couple of days.They are saying that it could be far worse then bear stearns if it brakes loose.At the moment they are searching for 4 billion $ fresh capital to survive.

Now you say they planned to restart in december.In previous posts I read the 1 st quarter of 2008 which got delayed to the 2nd quarter

[beginner]

<br />

[ the value of property in the US and UK is the lowest since WWII,

<br /><br />Do you have some evidence of this?<br /><br />Are you saying that the current value of UK housing stock (around 4.6 trillion Halifax or 3.96 billion Government Blue Book) is as low as any figure since 1945?<br /><br />Hyperbole is fun but if one is concerned with accumulating wealth rather than just a home; according to your toilet flushing statement, this could be the best time since 1945 to buy property. <br /><br />Pattaya will survive and prosper. Capitalist creative destruction will continue and the sun will rise again tomorrow.<br />Hello VT7, Hello Ocean 1. Hello Northpoint. Hello Hilton Towers. Farewell to the old and run down and decrepit. You served us well but now its time to embrace change and enjoy the pleasures of the new.<br />Welcome all and many more projects presently going through their birth pangs, Welcome to the real world of human creativity, endevour and progress.<br />

<br /><br /><br />

There certainly is destruction. I don't know about the creative part.

http://www.realestateabc.com/outlook/overall.htm

I do know there was a huge property bust in Pattaya, in fact, in all of Asia, about ten years ago. Many buildings never got finished. A lot of happy idiots who thought they would be accumulating wealth were flushed down the toilet. Many of them probably listened to hyperbolic spinners of fantasy like you.

Hello lots of broken dreams and empty wallets. There's a sucker born every minute.

The real world of "human creativity, endeavour, and progress" has little to do with erecting tacky monstrosities by the sea.

Hello Again Prospero.

Its always a pleasure to cross quill pens with you.

Your link is very interesting but nowhere does it provide evidence to support your assertion that "the value of property in the US and UK is the lowest since WWII," I think that a closer reading of your reference will reveal it means something else.

As discussed before. One mans 'tacky monstrosity by the sea' can also be another man's awe-inspiring, spirit-lifting structure of great beauty. eg Getty Museum in LA

One mans unmade bed is another man's valuable art work.

One man's monstrous carbuncle is another man's pride and joy.

Why are you so convinced that Pattaya property faces disaster rather than a mere overdue correction to smooth out the irrational market exhuberance that has developed over the last few years?

The very things that attracted you and I and thousands of others to this area are still here. They are now attracting people from Russia and other newly cash rich countries. The sun may be setting on US or Euro expats but there are lots of others to take their place.

[sotsira]

<br />

[ the value of property in the US and UK is the lowest since WWII,

<br /><br />Do you have some evidence of this?<br /><br />Are you saying that the current value of UK housing stock (around 4.6 trillion Halifax or 3.96 billion Government Blue Book) is as low as any figure since 1945?<br /><br />Hyperbole is fun but if one is concerned with accumulating wealth rather than just a home; according to your toilet flushing statement, this could be the best time since 1945 to buy property. <br /><br />Pattaya will survive and prosper. Capitalist creative destruction will continue and the sun will rise again tomorrow.<br />Hello VT7, Hello Ocean 1. Hello Northpoint. Hello Hilton Towers. Farewell to the old and run down and decrepit. You served us well but now its time to embrace change and enjoy the pleasures of the new.<br />Welcome all and many more projects presently going through their birth pangs, Welcome to the real world of human creativity, endevour and progress.<br />

<br /><br /><br />

There certainly is destruction. I don't know about the creative part.

http://www.realestateabc.com/outlook/overall.htm

I do know there was a huge property bust in Pattaya, in fact, in all of Asia, about ten years ago. Many buildings never got finished. A lot of happy idiots who thought they would be accumulating wealth were flushed down the toilet. Many of them probably listened to hyperbolic spinners of fantasy like you.

Hello lots of broken dreams and empty wallets. There's a sucker born every minute.

The real world of "human creativity, endeavour, and progress" has little to do with erecting tacky monstrosities by the sea.

Hello Again Prospero.

Its always a pleasure to cross quill pens with you.

Your link is very interesting but nowhere does it provide evidence to support your assertion that "the value of property in the US and UK is the lowest since WWII," I think that a closer reading of your reference will reveal it means something else.

As discussed before. One mans 'tacky monstrosity by the sea' can also be another man's awe-inspiring, spirit-lifting structure of great beauty. eg Getty Museum in LA

One mans unmade bed is another man's valuable art work.

One man's monstrous carbuncle is another man's pride and joy.

Why are you so convinced that Pattaya property faces disaster rather than a mere overdue correction to smooth out the irrational market exhuberance that has developed over the last few years?

The very things that attracted you and I and thousands of others to this area are still here. They are now attracting people from Russia and other newly cash rich countries. The sun may be setting on US or Euro expats but there are lots of others to take their place.

Euro expats havn't had it better, nearly 52bt to the Euro, thats the highest i've ever seen it, good time to invest if you have euros!

[prospero]

<br />

<br />

[ the value of property in the US and UK is the lowest since WWII,

<br /><br />Do you have some evidence of this?<br /><br />Are you saying that the current value of UK housing stock (around 4.6 trillion Halifax or 3.96 billion Government Blue Book) is as low as any figure since 1945?<br /><br />Hyperbole is fun but if one is concerned with accumulating wealth rather than just a home; according to your toilet flushing statement, this could be the best time since 1945 to buy property. <br /><br />Pattaya will survive and prosper. Capitalist creative destruction will continue and the sun will rise again tomorrow.<br />Hello VT7, Hello Ocean 1. Hello Northpoint. Hello Hilton Towers. Farewell to the old and run down and decrepit. You served us well but now its time to embrace change and enjoy the pleasures of the new.<br />Welcome all and many more projects presently going through their birth pangs, Welcome to the real world of human creativity, endevour and progress.<br />

<br /><br /><br /><br /><br />There certainly is destruction. I don't know about the creative part.<br /><br /><a href="http://www.realestateabc.com/outlook/overall.htm" target="_blank">http://www.realestateabc.com/outlook/overall.htm</a><br /><br />I do know there was a huge property bust in Pattaya, in fact, in all of Asia, about ten years ago. Many buildings never got finished. A lot of happy idiots who thought they would be accumulating wealth were flushed down the toilet. Many of them probably listened to hyperbolic spinners of fantasy like you. <br /><br />Hello lots of broken dreams and empty wallets. There's a sucker born every minute.<br /><br />The real world of "human creativity, endeavour, and progress" has little to do with erecting tacky monstrosities by the sea.<br />

<br /><br /><font size="3">Hello Again Prospero.<br /></font>Its always a pleasure to cross quill pens with you.<br />Your link is very interesting but nowhere does it provide evidence to support your assertion that "the value of property in the US and UK is the lowest since WWII," I think that a closer reading of your reference will reveal it means something else. <br /><br />As discussed before. One mans 'tacky monstrosity by the sea' can also be another man's awe-inspiring, spirit-lifting structure of great beauty. eg Getty Museum in LA<br />One mans unmade bed is another man's valuable art work.<br />One man's monstrous carbuncle is another man's pride and joy.<br /><br />Why are you so convinced that Pattaya property faces disaster rather than a mere overdue correction to smooth out the irrational market exhuberance that has developed over the last few years?<br /><br />The very things that attracted you and I and thousands of others to this area are still here. They are now attracting people from Russia and other newly cash rich countries. The sun may be setting on US or Euro expats but there are lots of others to take their place.<br />

<br /><br /><br />

I can’t remember where I read the reference to World War II. I do a lot of reading and I haven’t been able to retrieve the source. So let’s forget that one.

Page 13 of yesterday’s International Herald Tribune is the source for my quotation, and I stand by it. It is accompanied by a graph which shows that the decline in the median value of US homes is BY FAR greater than at any time since 1968. That period takes in our adult lifetimes. Perhaps you can reveal to me what a closer reading of the reference might reveal. I think it speaks for itself.

I really don’t understand your paragraph on aesthetics. Are you saying that there are no standards whatsoever for what is pleasing in architecture and what is ugly? Is it really as simplistic as chaq’on a son gout ? Does that mean that council flats in Basingstoke or a strip mall in Kansas are in the same league as the Rockefeller Center or Salisbury Cathedral?

And the Getty. Are you talking about the neo-classical museum or Richard Meir’s Getty Center? In either case, you are comparing a set of buildings created as a trust to posterity by architects with a money-is-no-object brief to clichéd boxes designed by hack architects with little but short-term profit in mind.

Ah, yes, the Russians! They and their rubles will be our salvation! That might explain why the View Talay blocks look so much like Moscow housing projects.

I’m glad you agree with me about irrational exuberance and market corrections. The great thing about creative destruction is that it rids us of frivolous ideas like 91 story condo towers on postage-stamp pieces of land. The more money is awash in the system, the more stupidity.

I, for one, didn’t come to the East Coast of Thailand to gaze up at oversize condominiums that block the sun. If that’s why you came here, I have two words for you: Miami Beach.

[beginner]

[ but nowhere does it provide evidence to support your assertion that "the value of property in the US and UK is the lowest since WWII," I think that a closer reading of your reference will reveal it means something else. <br /><br />As discussed before. One

I can't remember where I read the reference to World War II. I do a lot of reading and I haven't been able to retrieve the source. So let's forget that one.

Was this it? Its not the same thing as your statement

NEW YORK--Americans' percentage of equity in their homes has fallen below 50% for the first time on record since 1945, the Federal Reserve said Thursday.

Homeowners' percentage of equity slipped to a revised lower 49.6% in the second quarter of 2007, the central bank reported in its quarterly U.S. Flow of Funds Accounts, and declined further to 47.9% in the fourth quarter -- the third straight quarter it was under 50%. That marks the first time homeowners' debt on their houses exceeds their equity since the Fed started tracking the data in 1945.

Page 13 of yesterday's International Herald Tribune is the source for my quotation, and I stand by it. It is accompanied by a graph which shows that the decline in the median value of US homes is BY FAR greater than at any time since 1968. That period takes in our adult lifetimes. Perhaps you can reveal to me what a closer reading of the reference might reveal. I think it speaks for itself.

No problem here. My only comment is, So what? Values go up, values go down. Median value was $20,100 in 1968. $185,200 2004 and $229,100 2007 but now falling as you point out.

I really don't understand your paragraph on aesthetics. Are you saying that there are no standards whatsoever for what is pleasing in architecture and what is ugly? Is it really as simplistic as chaq'on a son gout ? Does that mean that council flats in Basingstoke or a strip mall in Kansas are in the same league as the Rockefeller Center or Salisbury Cathedral?

And the Getty. Are you talking about the neo-classical museum or Richard Meir's Getty Center? In either case, you are comparing a set of buildings created as a trust to posterity by architects with a money-is-no-object brief to clichéd boxes designed by hack architects with little but short-term profit in mind.

Three words. Function and form.

Ah, yes, the Russians! They and their rubles will be our salvation! That might explain why the View Talay blocks look so much like Moscow housing projects.

Very good. Very funny. But aren't they mainly buying in Northpoint and other upmarket buildings?

I'm glad you agree with me about irrational exuberance and market corrections. The great thing about creative destruction is that it rids us of frivolous ideas like 91 story condo towers on postage-stamp pieces of land. The more money is awash in the system, the more stupidity.

I, for one, didn't come to the East Coast of Thailand to gaze up at oversize condominiums that block the sun. If that's why you came here, I have two words for you: Miami Beach.

Sorry but Miami Beach is not for me. Not relaxed enough. If I wanted Art Deco I would go to Mumbai or Napier New Zealand.

Two better words. Surfers Paradise.

Bonne chance monsieur.

Edited June 8, 2008 by beginner

[prospero]

According to today's Nation, there seems to be quite a bit of creative destruction going on in Bangkok. The failure rate for condos is nearing 50%.

Maybe the developer of Ocean 1 can chop off 45 stories or so.

What do you think, Beginner?

[beginner]

According to today's Nation, there seems to be quite a bit of creative destruction going on in Bangkok. The failure rate for condos is nearing 50%.

Maybe the developer of Ocean 1 can chop off 45 stories or so.

What do you think, Beginner?

I'm afraid that I had never heard of Aquarius and knew nothing of their expertise or track record.

But if I were in the Project Management Business as is Aquarius Estate Co I would be very satisfied with the publicity generated by the article you refer to. Maybe it will generate a little more work for their three year old business and help it over its initial growing pains.

Here is some of its 'wisdom'.

After conducting a study during the past five months, the building consultant said even inner Sukhumvit, an area once deemed immune to downturns, "no longer guarantees success". "The average take-up rate for Bangkok condominiums is now 54 per cent," he said. "That is considerably lower than about 70 per cent for last year." "Of the 50,000 units that are expected to be launched this year, about 46 per cent won't be sold," he deduced from recent statistics. "One out of every two developments could fail."

So you ask. What do I think?

My answer. Not a lot...about such a journalistic piece of extrapolation and un-referenced, in house statistics.

Fortunately Ocean 1 is not being built in Bangkok but in a fine general location, soon to be dramatically improved and developed, near the sea. It will be a lasting joy to all those lucky enough to be able to buy a unit, (and lucky enough to be in a position to risk losing their capital without any great financial trauma should it fail).

As I have said before. No large scale project is completed without problems and difficulties. Ocean 1 will be no different.

My view/experience of risk taking is that for every two or three failures, the one winner takes care of all the other losses.

If someone is totally risk averse then the best course of action for them is to do nothing.

Why would anyone expect 'a guaranteed success' in any risky free market business environment? In Thailand of all places!!

The only certain way to succeed is to do nothing. As Homer Simpson once said, Kids, you tried your best and you failed miserably. The lesson is, never try.

Are you related to Homer Prospero? Just kidding.

[prospero]

<br />

According to today's Nation, there seems to be quite a bit of creative destruction going on in Bangkok. The failure rate for condos is nearing 50%. <br />Maybe the developer of Ocean 1 can chop off 45 stories or so.<br /><br />What do you think, Beginner?

<br /><br />I'm afraid that I had never heard of Aquarius and knew nothing of their expertise or track record.<br />But if I were in the Project Management Business as is Aquarius Estate Co I would be very satisfied with the publicity generated by the article you refer to. Maybe it will generate a little more work for their three year old business and help it over its initial growing pains. <br /><br />Here is some of its 'wisdom'.<br /><i>After conducting a study during the past five months, the building consultant said even inner Sukhumvit, an area once deemed immune to downturns, "no longer guarantees success". "The average take-up rate for Bangkok condominiums is now 54 per cent," he said. "That is considerably lower than about 70 per cent for last year." "Of the 50,000 units that are expected to be launched this year, about 46 per cent won't be sold," he deduced from recent statistics. "One out of every two developments could fail."<br /></i><br />So you ask. What do I think?<br />My answer. Not a lot...about such a journalistic piece of extrapolation and un-referenced, in house statistics. <br /><br />Fortunately Ocean 1 is not being built in Bangkok but in a fine general location, soon to be dramatically improved and developed, near the sea. It will be a lasting joy to all those lucky enough to be able to buy a unit, (and lucky enough to be in a position to risk losing their capital without any great financial trauma should it fail).<br /><br />As I have said before. No large scale project is completed without problems and difficulties. Ocean 1 will be no different. <br />My view/experience of risk taking is that for every two or three failures, the one winner takes care of all the other losses.<br /><br />If someone is totally risk averse then the best course of action for them is to do nothing.<br />Why would anyone expect 'a guaranteed success' in any risky free market business environment? In Thailand of all places!!<br />The only certain way to succeed is to do nothing. As Homer Simpson once said, <b>Kids, you tried your best and you failed miserably. The lesson is, never try.<br /><br /></b>Are you related to Homer Prospero? <img src="style_emoticons/default/rolleyes.gif" style="vertical-align:middle" emoid="" border="0" alt="rolleyes.gif" /> Just kidding.<br /><br />

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As PT Barnum once said: "There's a sucker born every minute."

As Yogi Berra once said: "The future ain't what it used to be."

[CHdiver]

According to today's Nation, there seems to be quite a bit of creative destruction going on in Bangkok. The failure rate for condos is nearing 50%.

Maybe the developer of Ocean 1 can chop off 45 stories or so.

What do you think, Beginner?

I'm afraid that I had never heard of Aquarius and knew nothing of their expertise or track record.

But if I were in the Project Management Business as is Aquarius Estate Co I would be very satisfied with the publicity generated by the article you refer to. Maybe it will generate a little more work for their three year old business and help it over its initial growing pains.

Here is some of its 'wisdom'.

After conducting a study during the past five months, the building consultant said even inner Sukhumvit, an area once deemed immune to downturns, "no longer guarantees success". "The average take-up rate for Bangkok condominiums is now 54 per cent," he said. "That is considerably lower than about 70 per cent for last year." "Of the 50,000 units that are expected to be launched this year, about 46 per cent won't be sold," he deduced from recent statistics. "One out of every two developments could fail."

So you ask. What do I think?

My answer. Not a lot...about such a journalistic piece of extrapolation and un-referenced, in house statistics.

Fortunately Ocean 1 is not being built in Bangkok but in a fine general location, soon to be dramatically improved and developed, near the sea. It will be a lasting joy to all those lucky enough to be able to buy a unit, (and lucky enough to be in a position to risk losing their capital without any great financial trauma should it fail).

As I have said before. No large scale project is completed without problems and difficulties. Ocean 1 will be no different.

My view/experience of risk taking is that for every two or three failures, the one winner takes care of all the other losses.

If someone is totally risk averse then the best course of action for them is to do nothing.

Why would anyone expect 'a guaranteed success' in any risky free market business environment? In Thailand of all places!!

The only certain way to succeed is to do nothing. As Homer Simpson once said, Kids, you tried your best and you failed miserably. The lesson is, never try.

Are you related to Homer Prospero? Just kidding.

Soon? Maybe in 10 years. Don't we go already in the second year of the Tappraya Road renovation? They just started diging up again to lay some pipes in there. The part going down to Jomtien is a sea of deep potholes and they get deeper and deeper every day.

Pattaya, welcome to the off road city.

[JaiDeeFarang]

It doesn't look very promising for Lehman Brothers after having read this item http://news.bbc.co.uk/2/hi/business/7444185.stm

[prospero]

<br />It doesn't look very promising for Lehman Brothers after having read this item <a href="http://news.bbc.co.uk/2/hi/business/7444185.stm" target="_blank">http://news.bbc.co.uk/2/hi/business/7444185.stm</a><br />

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Raimon Land is also having a tough go.

http://www.bangkokpost.net/Business/11Jun2008_biz49.php

But hold on. Beginner is warming up to sing another chorus of "The Sun Will Come Out Tomorrow"!

[beginner]

<br />It doesn't look very promising for Lehman Brothers after having read this item <a href="http://news.bbc.co.uk/2/hi/business/7444185.stm" target="_blank">http://news.bbc.co.uk/2/hi/business/7444185.stm</a><br />

<br /><br /><br />

Raimon Land is also having a tough go.

http://www.bangkokpost.net/Business/11Jun2008_biz49.php

But hold on. Beginner is warming up to sing another chorus of "The Sun Will Come Out Tomorrow"!

Yes, interesting times indeed.

As the sage said, if you haven't got problems, you're not in business. I have no inside knowledge whatsoever of Raimon Land but one has to wonder about a company that needs to refinance in the middle of a selling/ building frenzy as they did last year.

I wish them well.

OK I'll sing

The sun'll come out

Tomorrow

Bet your bottom dollar

That tomorrow

There'll be sun!

Just thinkin' about

Tomorrow

Clears away the cobwebs,

And the sorrow

'Til there's none!

When I'm stuck a day

That's gray,

And lonely,

I just stick out my chin

And Grin,

And Say,

Oh

The sun'll come out

Tomorrow

If you will sing another Annie song. Its A Hard Knock Life

It's the hard-knock life for us

It's the hard-knock life for us

No one cares for you a smidge

When your in an orphanage

It's the hard-knock life

It's the hard-knock life

It's the hard-knock life!