Hua Hin Condos Scaled Back

[george]

Hua Hin condos scaled back

HUA HIN: -- Prime Nature downsizes Hua Hin condos as per demand Prime Nature Group Co Ltd has relaunched its low-rise condominium in Hua Hin after a redesign and resizing to better fit consumer demand, said chairwoman Sunattee Nerngchamnong.

As most customers were interested in single-bedroom units after the project was introduced last year, and because the Environmental Impact Assessment (EIA) rules have became stricter, the company decided to downsize and redhdesign the interior of its low rise luxurious condominium project.

''Customers only bought space and didn't get fully furnished rooms at that time. And the EIA proposal added a lot of limits after the first opening, so we adjusted our strategy,'' she said.

Prime Nature sold the project's land to its new joint-venture partner E.G. Property Co, a construction company, so that E.G. holds 80% of the investment and Prime Nature 20%.

''If we undertake the project ourselves, we wouldn't be able to control costs on construction delays,'' Mrs Sunattee said. ''Our new partner specialises in construction and is also in charge of the construction of the project.''

When Prime Nature introduced the project last year it was to have eight storeys housing 54 units sized from 150-345 square metres. The redesigned project comprises two six-storey buildhdings with 94 fully furnished units sized between 60 and 120 sq m and priced from 4.9 million baht.

E.G. Property will spend about 15% more on furnishing with a total construction budget of 400 million baht but will gain an advantage from lower steel prices. Unit prices could increase by a maximum of 10% after it is finished.

The project is 30% complete and should be finished by the end of October.

Prime Nature will also develop 23 pool villas with an investment of 150 million baht on the 15-rai site adjacent to its current condominium project by the end of the year.

-- Bangkok Post 2009-02-11