Globe Complex

[krige33]

I received an advertisement for investment in project hotel rooms The pattaya beach resort Globe complex

225 Pattaya Beach road.

The return on investment would be 20% per annum ....

Does anyone have any information on this project?

[DonTron]

20% ROI??? - That sounds too good to be true hehe.

I will bet you that they wont gurantee that return

I would like to know more about it so please post here if you find out more.

[jimmybkk]

Sounds like the project on Beach Road next to Northshore - I'm told it's around 1 million Baht for a 10 year lease on a hotel room. They rent it out for you whenever you're not using it.

[krige33]

Yes it is near Northshore. Of course they said 20% but I would see this result. They have a website : thepattayabeachresort.com,the website not worked. I enter in by Google, but not more information at the moment.

They don't say 10 year lease or shared time, but seems similar.

[jimmybkk]

Just found this website: (don't use www. just http) en.thaiboliger.no/default.asp?Folder=2716

Most of the info is on there.

[norrona]

they are doing what has been a successful venture on the red sea in egypt (amongst other places)at half the price, they certanily do not guarantee 20%p/a in egypt though....more like 5% for the 1st 2 years and usage for 1 month per year or something...

if theres a bank guarantee with this then I would certainly be interested, it would depend on who is to manage the place also or whether the developer is going to build it and sell it as an ongoing concern...

anyone know about the developers or company???

[jimmybkk]

Never heard of them before - looks like this is their 3rd project though, according to their website. Can't find anything about a rental guarantee.

[NotNew2You]

The return on investment would be 20% per annum...

Yeah...go ahead and bite...as someone once said...there's another one born every minute

That 20% "return" has already been figured into the sales price of the unit! So you overpay for some unit just to get what you overpaid back...yeah...sounds like a good deal to me.

Also, is that a "net" return or "gross"? I am sure there are all sorts of miscellaneous fees, expenses, costs, taxes, insurance, etc. that will be deducted from this 20% (as there usually is with all these type of projects) so maybe you will be lucky with a net return of 5-10% (basically market rates).

I have an idea, why don't you put your investment capital in a low-cost global mutual or ETF fund (index funds are best) and use your investment gains to rent a nice hotel room or condo when you come to Pattaya for vacations.

[krige33]

I agree with all yours replies. I wanted to know if I could get more information about the developers or company, but at the moment not proove of bank guarantee and You right when you say, after deducted may be basically market rates.

[TheWalkingMan]

I popped into this place a few weeks back and I like how the website does not show Soi 6.

Anyway, the idea is that you pay for a 10-year lease and the property management company will rent your room. From this rental income you will earn a return after expenses, taxes etc. I think they were basing the return on a rental rate of 2k Baht for the smaller rooms during low season But then again, I laughed at the pricing of Nova Platinum.

But I still think that the structure must have been weakened by the years of exposure to the sun and salty air.

TheWalkingMan