Pattaya Clears Country's Tallest Condo

[wca01]

According to the Bangkok Post, Pattaya clears country's tallest condo. After a long wait for the approval of its environmental impact assessment (EIA), construction is due to start on March 30 of Thailand tallest residential building, the Ocean 1 Tower on Jomtien Beach, according to its developer.

The 12-billion baht project consists of one 91-storey building of 327 m hight. During the process, it had to conduct a public hearing chaired by the Chon Buri governor and attended by Pattaya City representatives, environmental authorities, community leaders, tour operators and residents.

Its contractor is now relocating its foundation construction equipment from Malaysia to the site to get ready for the expected construction date.

The latest prices are from 125,000 - 135,000 per sq.m

WCA

[OneMikeInBangkok]

I saw the report in the Bangkok Post - they are running a full page spread

One of the major points they are pushing are "Uninterupted seaviews"

How can they advertise that when they are building over 200 meters from the beach

I see major problems for this prestgious condo development when the public realises that the likes of View Talay can move in in front and steal those panoramic sea views.

Maybe Siam Best have bought the land down to the beach as a precaution just as Jomtien Complex did - maybe they then sell the land on to the highest bidder - maybe they build Ocean 2 smack infront of Ocean 1

Too many maybes to be forking out big money like this

[JaiDeeFarang]

Does anyone know who is going to build this development? Several people have told me that K-Tech their proposed contractor are in dire trouble and that La Royale is already a year behind schedule? How can they advertise "Your dream home is ready" when there isn't even a window in the place, nice paint job though! NOT

I'd already heard that there were plans for an Ocean 2 tower, but not sure on which site. A few more and they could get George Clooney for the Grand Opening of Oceans 7 and have Brad Pitt absailing down it!

My main worry would be the actual funding of the project, what Thai bank would lend a farang 12 billion baht? I guess it would have to be a consortium of banks to spread the risk. Obviously there is money coming in from sales, but what about the 300 odd Thai ownership apartments which will be hard to sell at that price?

I do hope the development does happen, because it will be amazing for Pattaya, I just wouldn't want to risk any of my money with so many uncertainties even with an EIA and City Hall's blessing.

[Humphrey Bear]

K-Tech owner died a couple of years ago - really nice Lebanese/Armenian guy. His family are still trying to keep it going, but without his personality, and with a lowering of standards, the company are not doing so well.

It has only been in it's present form for about ten years anyway, so we cannot judge how good it is as a contractor yet.

[farangfool]

K-Tech owner died a couple of years ago - really nice Lebanese/Armenian guy. His family are still trying to keep it going, but without his personality, and with a lowering of standards, the company are not doing so well.

It has only been in it's present form for about ten years anyway, so we cannot judge how good it is as a contractor yet.

Bob Der Kevorkian was British from a Egyptian Armenian family. The company built many hotels (like Sukumvit Sheraton), malls (like Carrefour in Pattaya), condos (they actually took over the development at the corner at Asoke and Suk.) etc. So the track record looks pretty and the contractor does not seem to be the problem.

Watching Pattaya news an hour or so ago, I saw the City Hall's announcement of the next water shortage and the need to set up own water storages. I m sure the condos will have huge tanks on their balconies (five star mosquito residences...)

In short, they will drain Pattaya city and advise all with no special connections to care for their own needs, a Thai desert in the making.

[Basil B]

One of the major points they are pushing are "Uninterupted seaviews"

this is another project by the the same guy who built "view Talay Villas", one of the major selling points that each villa's private pool and garden were secluded and not overlooked???

I think the statement "Uninterrupted seaviews" is not worth the paper it is printed on.

BB

[JaiDeeFarang]

K-Tech owner died a couple of years ago - really nice Lebanese/Armenian guy. His family are still trying to keep it going, but without his personality, and with a lowering of standards, the company are not doing so well.

It has only been in it's present form for about ten years anyway, so we cannot judge how good it is as a contractor yet.

Bob Der Kevorkian was British from a Egyptian Armenian family. The company built many hotels (like Sukumvit Sheraton), malls (like Carrefour in Pattaya), condos (they actually took over the development at the corner at Asoke and Suk.) etc. So the track record looks pretty and the contractor does not seem to be the problem.

Watching Pattaya news an hour or so ago, I saw the City Hall's announcement of the next water shortage and the need to set up own water storages. I m sure the condos will have huge tanks on their balconies (five star mosquito residences...)

In short, they will drain Pattaya city and advise all with no special connections to care for their own needs, a Thai desert in the making.

I agree the track record is great, but under the current economic and political climate and having over 10,000 staff I wouldn't like to be a share holder. If you look at the SET website, their annual report doesn't look great and they were given property rather than payment for one job, which doesn't pay the wages.

Regarding water I understand from the Ocean 1 marketing material that they will recycle 80% of the water used in the condominium.

[DonTron]

Uninterrupted seaviews

Well, when you are up in +300 meters you will have uninterrupted seaviews. And if someone would manage to buy all the shophouses and guesthouses in front of Ocean1, then they would probably have a real hard time getting a permission to build a highrise closer than 200m from the sea. Sure 10 years ago you could get such a permission but today the awareness is too big and I dont think its possible to do anymore. (people scream too loud to use bribery for these kind of things).

Still, I believe this condo will be a true Pattaya landmark and I cant wait till Im sitting at the 92nd floor looking out over the sea

I mean, how many people in the entire world do you know who lives at the +80th or +90th floor?

[hughden]

Will be interesting to see how long they take to actual complete this monster. All Siam Best's recent projects were/are running way behind schedule; e.g. residence 4 next to immigration and majestic villas.

I understand K-Tech were thrown off the Le Royale site and another construction company is now completing the project.

[Humphrey Bear]

90 floors - jump from the top of that and you'll die of old age before you hit the bottom!

[Humphrey Bear]

In 2002 I was staying in the BP Hotel in Hong Kong and near us was being built an 88 floor condo / hotel / something. It really strained your neck to look up at the construction.

[OneMikeInBangkok]

Uninterrupted seaviews

Well, when you are up in +300 meters you will have uninterrupted seaviews. And if someone would manage to buy all the shophouses and guesthouses in front of Ocean1, then they would probably have a real hard time getting a permission to build a highrise closer than 200m from the sea. Sure 10 years ago you could get such a permission but today the awareness is too big and I dont think its possible to do anymore. (people scream too loud to use bribery for these kind of things).

Still, I believe this condo will be a true Pattaya landmark and I cant wait till Im sitting at the 92nd floor looking out over the sea

I mean, how many people in the entire world do you know who lives at the +80th or +90th floor?

It certainly wasn't 10 years ago that View Talay got there "surprising" building permit

If the final ruling goes to Pattaya City Hall for a 100 meter measurement then there seems like nowt to stop anyone else from doing the same. The argument by VT investors has been - if you want a guaranteed sea view then build on the beach. If you build 200 meters back then expect someone to come along and steal your view.

As one VT investor said - quoting him/her/it "som nam naa"

Ocean 1 - I think is a great looking building compared to the usual low class dross being slung up by..........

Be a shame if the same company that puts up the dross buccers it up for the rest. They have shown they don't give a toss for the rights of others so why should they give a toss for Ocean 1 and it's investors.

It's going to be a long hard sell but with all the buts and maybes and ifs about that magic 200 meter zone you would have to have a screw not tightened up to invest in this project at this time.

[chanman]

All the naysayers are at it again, you guys do nothing but complain, here is a guy who has worked hard to secure financing and consents for a monumental project and all you can do is poke fun and try and put him and his team down, they have a renound architect and engineering company on board and have sold a significant amount already.

The building will be state of the art.

I would like to compare the achivements of you guys against people like Bruno, Mike and their team.. petty jealousy is what I am sure it boils down to. Do something with your life rather than knocking those who feel the need to do something with theirs.

[OneMikeInBangkok]

All the naysayers are at it again, you guys do nothing but complain, here is a guy who has worked hard to secure financing and consents for a monumental project and all you can do is poke fun and try and put him and his team down, they have a renound architect and engineering company on board and have sold a significant amount already.

The building will be state of the art.

I would like to compare the achivements of you guys against people like Bruno, Mike and their team.. petty jealousy is what I am sure it boils down to. Do something with your life rather than knocking those who feel the need to do something with theirs.

I don't call losing millions of Baht in investments due to the pig headedness of a company who...........

I don't call that anything to do with petty jealousy.

Folks (If they have half a brain) which I wonder sometimes should be doing their homework before they invest.

Look at the facts as is with the debacle over VT7. If this is left to continue then continue it will. Buyer beware.

I have stated before. I will state it again - I LIKE the Ocean 1 project. I have nowt against the company or the team who are running it. For God's sake they seem to be one of the few mobs around here who are trying to stick not only to the letter of the law but the spirit of the law.

It is not folks like me who wish them ill. Just look across the road. Pull your head out of the sand or out of whatever orifice you have stuffed it and look at what is happening has happened just a few hundred meters away.

[beginner]

Nothing ventured, nothing gained.

People who invest in Ocean 1 will have a world famous address in a superb, state of the art modern building.

The immediate area around it and local population will thrive providing services and products for the 600 plus lucky condo owners. Jomtien will be given an economic boost that will help propel it from what it is now to what it could be in the future....a high quality destination.

There is of course a risk factor as there is with any investment. It is a very peculiar mind set that moans and complains about hypothetical problems such as water shortages to traffic congestion or the views being being built out. If the world was left in their unimaginative, risk averse hands we would all be living in caves collecting water from the nearest pond.

All the problems both real and imagined will be solved by the magnificent creative pioneering minds and determination of the problem solving developers.

It will be an outstanding achievement and put this area on the world map for once for good reasons not the usual bad.

I'll be looking out for you non believers from the top of the building.

Edited February 13, 2008 by beginner

[mrbojangles]

Good luck to them and it does look impressive. But 90ish floors, just isn't the kind of living for me.

In fact, after a night out with the lads, i sometimes wish i lived in a bungalow as i struggle to climb the stairs in my house. You'd be sober by the time you got to the top of that and have to start off again

[allexx]

Still waiting for a Casino to be built in Pattaya.....Its coming sooner or later.

[deckx]

TBH I thought it would be difficult to sell all those units especially as they are plenty of other projects around and with the 50% thai ownership rule. Guess they must have done their research but I could think of several other safer ways to invest my money,

Personally, I think it will stick out like a sore thumb.

Lets hope they don't abandon the project halfway up. !! (thats has never happened in thailand before )

Edited February 13, 2008 by deckx

[philliphn]

This project will be very problematic for the Jomtien/Pattaya area!

The infrastructure to support this building is not there.

They will create an enourmous water shortage for the whole Jomtien/Pattaya area. They will need a massive water truck with a very long hose. This project when completed will necessitate a lot of H20 be available. At present it is not. I doubt that part of the plans are to supply this basic need.

How about all the traffic problems. Already this area has traffic congestion. The road leading to and away from the behemoth condo are sorely inadequate.

Electrical demand will increase tremendously. Electric Bills will climb.

The pressure on restaurants and what services are available will be a problem. I can see the lines now.

Does any one know of any plans in the works to handle these issues?

[OneMikeInBangkok]

Still waiting for a Casino to be built in Pattaya.....Its coming sooner or later.

Don't bet on that

[OneMikeInBangkok]

This project will be very problematic for the Jomtien/Pattaya area!

The infrastructure to support this building is not there.

They will create an enourmous water shortage for the whole Jomtien/Pattaya area. They will need a massive water truck with a very long hose. This project when completed will necessitate a lot of H20 be available. At present it is not. I doubt that part of the plans are to supply this basic need.

How about all the traffic problems. Already this area has traffic congestion. The road leading to and away from the behemoth condo are sorely inadequate.

Electrical demand will increase tremendously. Electric Bills will climb.

The pressure on restaurants and what services are available will be a problem. I can see the lines now.

Does any one know of any plans in the works to handle these issues?

Although Ocean 1 is slated for 90+ floors there are less units than in a common or garden VT cornflake box.

Considering this project is priced for the nobs - how many of the nobs will be in residence at any one time?

Ocean 1 say they are making this a virtual self sustaining building as regards utilities

Solar power - when the sun shines - (free candles for nightime?)

Re-cycled water system - (taking the piss, taking the piss, taking the piss.....)

Of course there will be super deluxe high class shopping emporiums.

Get set for queues of folks queing up to buy designer bags, designer perfumes, designer.... when these are available now from Guy La Somchai on Walking Street.

Now it's hard enough to get Lek from Living Dolls upto your penthouse on the 25th floor of View Talay. Just think of getting one up to your 90th floor penthouse in Ocean 1

[naka]

Will be interesting to see how long they take to actual complete this monster. All Siam Best's recent projects were/are running way behind schedule; e.g. residence 4 next to immigration and majestic villas.

I understand K-Tech were thrown off the Le Royale site and another construction company is now completing the project.

How much will you lose in interest in ... Er ... How many years to build ?

And who's gonna buy the 51% Thai allocation at 125 - 135 thousand per square meter, This is not Bangkok.

Naka.

Edited February 14, 2008 by naka

[A_Traveller]

Am I alone in hearing the 'Well Sir, what a wise investor here does, is take advantage of the company ownership route...."

Regards

PS I've nothing against the condo in principal, but the shadow it will cast may blight more than a few, and of course there is the infrastructure question.

PPS Does anyone know where a copy of the environmental impact assessment is?

/edit add PS'//

Edited February 14, 2008 by A_Traveller

[farangfool]

K-Tech owner died a couple of years ago - really nice Lebanese/Armenian guy. His family are still trying to keep it going, but without his personality, and with a lowering of standards, the company are not doing so well.

It has only been in it's present form for about ten years anyway, so we cannot judge how good it is as a contractor yet.

Bob Der Kevorkian was British from a Egyptian Armenian family. The company built many hotels (like Sukumvit Sheraton), malls (like Carrefour in Pattaya), condos (they actually took over the development at the corner at Asoke and Suk.) etc. So the track record looks pretty and the contractor does not seem to be the problem.

Watching Pattaya news an hour or so ago, I saw the City Hall's announcement of the next water shortage and the need to set up own water storages. I m sure the condos will have huge tanks on their balconies (five star mosquito residences...)

In short, they will drain Pattaya city and advise all with no special connections to care for their own needs, a Thai desert in the making.

I agree the track record is great, but under the current economic and political climate and having over 10,000 staff I wouldn't like to be a share holder. If you look at the SET website, their annual report doesn't look great and they were given property rather than payment for one job, which doesn't pay the wages.

Regarding water I understand from the Ocean 1 marketing material that they will recycle 80% of the water used in the condominium.

You are right about the climate. Bob, however, sold only a fraction of his company on the stock-market. So the decline in share prices does not tell you too much about the status of the operation.

The large staff includes the construction workers and there was for years strong competition to get enough.Thus, not a real burden.

I m just stating this as some guys have been spreading vicious BS in BKK. These people had hoped for some extra gains following Bob's death and were disappointed.

Having said that, the huge project is a nightmare. KT-Tech or not, plus the pricing is over the top. Sounds like a supersized bubble.

[Samuian]

project consists of one 91-storey building of 327 m hight.

Anyone can imagine the wind lashing the building in monsoon season?

I wonder the wind sheers experienced on the ground, at the entrance... around the building...

at other places it knocks people occasionally off their heels...

[Naam]

project consists of one 91-storey building of 327 m hight.

Anyone can imagine the wind lashing the building in monsoon season?

I wonder the wind sheers experienced on the ground, at the entrance... around the building...

at other places it knocks people occasionally off their heels...

not very strong winds in Jomtien even during monsoon. although the height of the building causes wind pressure at the upper floors. during construction of my home i had rented a penthouse (18th floor) in Jomtien and experienced once in a while some strong wind on the terrace when on the ground the leaves of trees were hardly moving.

Edited February 14, 2008 by Naam

[Humphrey Bear]

Wiind pressures should be taken into account by the Structural Engineer,

If the job is engineered correctly, and passes all the checks on the way, then in this day and age there should be no problem for structural stability.

Some people mat get blown off balconies, but these would only be treated with suspicion if they were wearing plastic bags over their heads and had their hands tied behind them.

[popshirt]

I like the project also, but I do wonder about high rises built on sand. I grew up in earthquake country and though Thailand has luckily been spared a devastating earthquake in living memory, it does exist near the "ring of fire" where volcanic and seismic activity is only a matter of time.

Another way to spell SAND is LIQUEFACTION, not a happy thought for anyone living in a high rise at the beach!

[Chopper]

Wiind pressures should be taken into account by the Structural Engineer,

If the job is engineered correctly, and passes all the checks on the way, then in this day and age there should be no problem for structural stability.

Agree with that sentiment.

Some people mat get blown off balconies, but these would only be treated with suspicion if they were wearing plastic bags over their heads and had their hands tied behind them.

LOL.

[plasticpig]

Wiind pressures should be taken into account by the Structural Engineer,

If the job is engineered correctly, and passes all the checks on the way, then in this day and age there should be no problem for structural stability.

Some people mat get blown off balconies, but these would only be treated with suspicion if they were wearing plastic bags over their heads and had their hands tied behind them.

Why would that be suspicious,

I was told this is the normal way to commit suicide in Thailand.