Raimon Land

[MeetJohnDoe]

Nice pics. Looks like the project will be completed despite the naysers on TV. They're just envious, that's all.

Yes Barack you are right, the naysaysers are just envious. Cant wait to move in in December.

Yep...nice pics...nothing like living in a little box in the sky with 500 (or is it 1000) other boxes too. Like others have said, enjoy all the noise from your neighbors remodeling, music, partying, and crying babies too...should be a real riot. Likely a great investment too as prices have dropped 40% - 50% from when they were first marketed at the height of the WW economic bubble a couple years ago

Also, isn't there another condo going up right next door...that should provide a couple years of sleepless nights of construction noise and general mayhem on the soi.

Also, you're gonna really enjoy that walk from your car in the garage to the front entrance of the condo building itself during rainy season...and enjoy playing tennis on the roof in the mid-day sun

[bkkjames]

Yesterday night about 9.30 pm many workers were hanging around the Soi and waiting for money. However I guess they were working at the Central Hotel. It is a shame that one has to pay 100,000 Bht per sqm and these guys are waiting at night for a 6,000 Baht salary. Hmmm...

Well look at it this way, if you paid them 30 pounds an hour, what would the sqm price be?

probably the same,price per sq. metre is dictated by what the market will bear,the low wages just means the developers get a bigger profit.

using this logic, maybe they can just cut back on the number of workers then by 1/2 and employ them twice as long

[Arkady]

Wouldn't read too much into the share price, the company reported a sizeable profit and dividend for FY 2008.

I am sure you are correct. The share price is rather more important to those who bought at 2008 prices.

Recent Stock Performance:

Current Price (3/6/2009): .17

(Figures in Thai Bahts)

1 Week -5.6% 13 Weeks -29.2%

4 Weeks -34.6% 52 Weeks -82.8%

I think the share price is a major issue for the controlling shareholders from the Middle East who paid B1.40 for it. It managed to turn a profit in 2008 after two years of losses and an anemic profit in 2005 but earnings per share are down 80% from the 2004 level. The company has never delivered much of a return to minority shareholders since it was acquired as a burnt out shell and restructured about 8 years ago. Before the middle easterners came in corporate governance was spotty and directors were criticized for unethical behaviour in looking after themselves with special finders fees for finding new investors and bank loans and privileges of booking the best units at discounts and flipping them for quick turns. The former CEO is a very capable developer and is well liked but the major shareholders may have seen him as tainted by the former board regime and perhaps see also his lavish marketing style as inappropriate for the current environment. Also the people who made the investment decision in the Middle East need a scapegoat to explain their lousy investment decision. Now they want an austere cost cutting management style with a lot less pictures in the Thailand Tatler to survive in an extremely harsh environment, particularly in their segment which is mainly second homes for foreigners. I think they are going to have a hard time juggling cashflow and commitments to costly new projects but think they will scrape through depending on how long the recession lasts.

Edited March 14, 2009 by Arkady

[Ground Engineer]

Nice pics. Looks like the project will be completed despite the naysers on TV. They're just envious, that's all.

Yes Barack you are right, the naysaysers are just envious. Cant wait to move in in December.

Yep...nice pics...nothing like living in a little box in the sky with 500 (or is it 1000) other boxes too. Like others have said, enjoy all the noise from your neighbors remodeling, music, partying, and crying babies too...should be a real riot. Likely a great investment too as prices have dropped 40% - 50% from when they were first marketed at the height of the WW economic bubble a couple years ago

Also, isn't there another condo going up right next door...that should provide a couple years of sleepless nights of construction noise and general mayhem on the soi.

Also, you're gonna really enjoy that walk from your car in the garage to the front entrance of the condo building itself during rainy season...and enjoy playing tennis on the roof in the mid-day sun

Where do you live thats so envious then MeettheJohnDoe?

[Ground Engineer]

Nice pics. Looks like the project will be completed despite the naysers on TV. They're just envious, that's all.

Yes Barack you are right, the naysaysers are just envious. Cant wait to move in in December.

Likely a great investment too as prices have dropped 40% - 50% from when they were first marketed at the height of the WW economic bubble a couple years ago

And I suppose your so clever that your property hasnt been affected by the WW economic bubble

[NanLaew]

I reckon 36 rai for less than a million baht aint too shabby.

[basjke]

I reckon 36 rai for less than a million baht aint too shabby.

At that price I doubt it is 36 rai wide rather then deep.

[Phatcharanan]

Ahhh... condo living. Waiting 5 years for your room and then spending the next 20 years listening to the noise from all the upgrades and refurbishments by fellow room dwellers.

I am soooo envious right now, I better go and take a quiet, morning walk around my 16 acres in the country.

Ahhhhh yes. ! The lovely sea-views from the concrete and glass that one calls "home".

Until such time as someone at Pattaya City Planning Dept decides that actually....yes......the 100m Mean Thingy ma jingy line does mean that View Talay 98 P can now be built on the water thus blocking all the views.

Edited March 14, 2009 by Phatcharanan

[Rinrada]

I would be very surprised if my Northpoint apartment is not handed over to me on the due date of December of this year as its almost complete. Not sure about Southshore though, as construction hasnt even started.

If by any mischance you are very surprised and your Northpoint apartment is not handed over on the due date.

Then on behalf of the hundreds of party goers who enjoyed Raimon Lands extravaganzas with wonderful entertainments, free flowing wine, spirits, beer, plus great food and firework finales,, may I say Thankyou. Thankyou to all the deposit payers who contributed to such great evenings.

I wish you luck and hope that history does not repeat. Northshore was completed by Raimon but only after the original investors lost their money.

Northpoint will surely be finished one day but who knows if the developer will be Raimon Land who are now suffering like everyone else in the market. Current share price 0.17baht. Hmmnnn.

Good luck Ground Engineer. At least you won't have to find the final balance if the project stops.

Must say I enjoyed the party too ( apart from the band ) So good I returned the following evening. Shame they ran out of wine so early... Wonder how many 'sign-ups' they gained.. I didn't see many people go into the show apartments.. They were too busy with the free buffet and booze...

Been to a couple of Raimons receptions over the years and always found them most enjoyable....and of course Free.

Last year Nigel had a big one down in the Oversea Club in St James (with the BBCC) and I got even got me old picture in his company magazine...never ever bought anything from him of course but the Champers,Food and conversation was spot on.

Day or 2 later he had yet another freebe presentation at the Battersea Thai Food Festival and agin.......Sanok.Sanok.....we woz all there ........even tried the chang..... ...best wishes and Chok dee Khun N.

[Phatcharanan]

Fascinating.

Up-market balloon chasers.

(Whens the next bash?)

[NanLaew]

I reckon 36 rai for less than a million baht aint too shabby.

At that price I doubt it is 36 rai wide rather then deep.

Good one!

But think river-front (on 3 sides) and not sea-view (though the gap, on tip-toes, craning neck to the left).

Think 'outside the box'.

[Crash999]

Likely a great investment too as prices have dropped 40% - 50% from when they were first marketed at the height of the WW economic bubble a couple years ago

If you truly know folks selling Northpoint for 50k-80k/sqm please send me a PM.

[moo9]

Yesterday night about 9.30 pm many workers were hanging around the Soi and waiting for money. However I guess they were working at the Central Hotel. It is a shame that one has to pay 100,000 Bht per sqm and these guys are waiting at night for a 6,000 Baht salary. Hmmm...

Well look at it this way, if you paid them 30 pounds an hour, what would the sqm price be?

Who makes the money that you are overspending? The sqm prices are insane, comparing building costs, cost of living etc.

I would say, 50,000 - 60,000 Bht/sqm would still be ok but anything beyond it is a bubble.

And I would not be proud of the fact, that they pay workers some 5-6 k THB/month, same salary like 10 yrs ago.

Just look at the whining of people on the STG, so what should those guys think?

[InterestedObserver]

Last week, lots of news in the Bangkok Post and the Nation about Raimon Land. Changing CEO's and canceling projects.

What effect will this have on it's two big developments in Pattaya? Will they be completed or not?

I would be very surprised if my Northpoint apartment is not handed over to me on the due date of December of this year as its almost complete. Not sure about Southshore though, as construction hasnt even started.

Project completed and ready for Title transfer by December 2009, no way. Unless you plan to coexist with all the noise and workers.

[Humphrey Bear]

Ahhh... condo living. Waiting 5 years for your room and then spending the next 20 years listening to the noise from all the upgrades and refurbishments by fellow room dwellers.

I am soooo envious right now, I better go and take a quiet, morning walk around my 16 acres in the country.

Reminds me of the film "Bee Movie"

Many workers in the hive, never go out and the few who travel the countryside collecting nectar.

[prospero]

Now we know it's really serious!!!

http://www.notthenation.com/pages/news/getnews.php?id=742

[basjke]

Now we know it's really serious!!!

http://www.notthenation.com/pages/news/getnews.php?id=742

Strange that the article mentions that the decision was made yesterday by nigel who isn't with the company anymore.

[moo9]

Now we know it's really serious!!!

http://www.notthenation.com/pages/news/getnews.php?id=742

<deleted> cares, the loss is peanuts for the people invested there I would have never paid anything like 80 to over 100 k Bht/sqm som na na

[prospero]

Now we know it's really serious!!!

http://www.notthenation.com/pages/news/getnews.php?id=742

Strange that the article mentions that the decision was made yesterday by nigel who isn't with the company anymore.

Note the source. The test of a good parody is how many people it fools.

[lemel]

Now we know it's really serious!!!

http://www.notthenation.com/pages/news/getnews.php?id=742

Strange that the article mentions that the decision was made yesterday by nigel who isn't with the company anymore.

Note the source. The test of a good parody is how many people it fools.

agreed, great website !!!!! but some people will take it and themselves too serious

[InterestedObserver]

Northpoint is far from finished. Are there still workers on the site?

Nice pictures, are they of your condo or of the show units on the on the 2nd or 3rd level?

[Iknow]

Last week, lots of news in the Bangkok Post and the Nation about Raimon Land. Changing CEO's and canceling projects.

What effect will this have on it's two big developments in Pattaya? Will they be completed or not?

Northpoint foreshore The Lofts notshore Raimon Land Soshore

[Ground Engineer]

Northpoint's two recently "topped-off" towers now stand proudly over the Pattaya skyline, with all phases of construction at the project site continuing to make progress through mid-March.

Now that the structures of both towers have been completed, the massive Tower Cranes have been dismantled and removed from the site, and the external block-work plastering is finished, allowing the textured and flat paintwork applications to begin.

Tenders for the majority of the trade packages have been awarded, with deliveries and works progressing smoothly at the site.

The site has been receiving major M&E plant deliveries, with the electrical distribution board mains, transformers and fire pumps all arriving in February, while the bus ducts are due in early April. The standby generator has also been delivered and installation is ongoing.

The Mechanical, Electrical and Plumbing first fix installations have progressed to level 49 in Tower A and level 43 in Tower B, while the second fix installations have reached level 41 in Tower A and level 40 in Tower B.

Also making headway well to the upper floors in Towers A and B are the installations of the Siemens lighting control wiring, air conditioning system and the lift package with landing doors and frames.

Internal fit-out works are proceeding, with blockwork walls and plaster works reaching level 47 in Tower A and level 40 in Tower B, double-glazed window frame and glass installations to levels 45 and 39, ceiling installations to levels 25 and 21, and kitchen fit-outs to levels 13 and 12. Deliveries are in line with progress.

Floor and wall tiling has reached level 44 in Tower A and level 29 in Tower B, with the majority of required tiles for the units having been ordered from Italy and received on site.

Installations of the built-in wardrobes and vanity units have progressed to level nine in Towers A and B and the frameless shower cubicle installations have reached level 12 in both towers with deliveries to the site in line with work progress.

Come and view the progress for yourselves. The new show suites are now open for you to visit on level 3 of Tower A - and represent the quality and attention to detail that will be delivered throughout this project.

[prospero]

Northpoint's two recently "topped-off" towers now stand proudly over the Pattaya skyline, with all phases of construction at the project site continuing to make progress through mid-March.

Now that the structures of both towers have been completed, the massive Tower Cranes have been dismantled and removed from the site, and the external block-work plastering is finished, allowing the textured and flat paintwork applications to begin.

Tenders for the majority of the trade packages have been awarded, with deliveries and works progressing smoothly at the site.

The site has been receiving major M&E plant deliveries, with the electrical distribution board mains, transformers and fire pumps all arriving in February, while the bus ducts are due in early April. The standby generator has also been delivered and installation is ongoing.

The Mechanical, Electrical and Plumbing first fix installations have progressed to level 49 in Tower A and level 43 in Tower B, while the second fix installations have reached level 41 in Tower A and level 40 in Tower B.

Also making headway well to the upper floors in Towers A and B are the installations of the Siemens lighting control wiring, air conditioning system and the lift package with landing doors and frames.

Internal fit-out works are proceeding, with blockwork walls and plaster works reaching level 47 in Tower A and level 40 in Tower B, double-glazed window frame and glass installations to levels 45 and 39, ceiling installations to levels 25 and 21, and kitchen fit-outs to levels 13 and 12. Deliveries are in line with progress.

Floor and wall tiling has reached level 44 in Tower A and level 29 in Tower B, with the majority of required tiles for the units having been ordered from Italy and received on site.

Installations of the built-in wardrobes and vanity units have progressed to level nine in Towers A and B and the frameless shower cubicle installations have reached level 12 in both towers with deliveries to the site in line with work progress.

Come and view the progress for yourselves. The new show suites are now open for you to visit on level 3 of Tower A - and represent the quality and attention to detail that will be delivered throughout this project.

I can't help but think that "Ground Engineer" is a shill for Raimon Land.

[Barack]

...

.

I can't help but think that "Ground Engineer" is a shill for Raimon Land.

Not me. My sense he is somebody who is anxiously waiting completion of his new beautiful home. This despite some people's attempts to through cold water on two of Pattaya's massive new erections.

[basjke]

...

.

I can't help but think that "Ground Engineer" is a shill for Raimon Land.

Not me. My sense he is somebody who is anxiously waiting completion of his new beautiful home. This despite some people's attempts to through cold water on two of Pattaya's massive new erections.

I guess they threw to much cold water on one of those erections already :D

[InterestedObserver]

Northpoint is far from finished. Are there still workers on the site?

Nice pictures, are they of your condo or of the show units on the on the 2nd or 3rd level?

Yup, show units on the 3rd level. A long way to go before the project is finished and ownership transferred.

[loopaimod]

I am actually very interested in purchasing in Southshore Lofts at the new prices. Only problem I have is what happens to your money once you have signed up and paid the initial deposit/payments. If I bought Southshore how can I be sure that the funds are not being used to pay for Northshore, River, etc. If they fail for any reason then Southshore monies would be gone even if the project is successfully sold. Am I being worried for no reason?

[InterestedObserver]

I am actually very interested in purchasing in Southshore Lofts at the new prices. Only problem I have is what happens to your money once you have signed up and paid the initial deposit/payments. If I bought Southshore how can I be sure that the funds are not being used to pay for Northshore, River, etc. If they fail for any reason then Southshore monies would be gone even if the project is successfully sold. Am I being worried for no reason?

You have reason for concern. What contractual protections will you have for your money if and when there is a problem? Remember TIT and contracts often turn out to be unenforceable. Many people have lost their money in the past on condos, that's why it is not advisable to purchase off plan.

[PattayaParent]

When I inquired about Southshore the sales office claimed they had never heard of the Escrow Law under the amended Conduminium Act even though it was publicised in January 2008 and came into effect in July 2008.

When provided with a copy of it they said that they don't need to use Escrow as they guarantee themselves that your money will be returned.

So there you are, you have no worries.