Checking On Condo Developer

[Langsuan Man]

I am very interested in investing in a new condo project here in Bangkok. But having lived here through the period of time where half the city looked like an unfinished construction site I am still gun shy. Especially with today's unprecedented, continuing sale of condo units in downtown Bangkok.

I know that there are services to check out potential mates but does anyone know of an "independent" entity that will provide an unbiased view of the "condo-under-constrution" that I am thinking about ?

The property that I am interested in, if any posters know about it, is the Metropolis which is the condo building over the new Pathunam Building on the corner of New Phetchburi and Rajprarop (Rajdamri) Rd. The full plan is a Condo,

Hotel and Office building.

I obviously have tried to Goggle the Project manager Thai Property Public Company Limited, and the Sales and Marketing arm of ASSET LINK but ended up with no hits. So am really at a log jam, unless I can get some help from the folks on this forum.

Thanks in advance,

LSM

[The_Moog]

I can see it from where I am sitting as I type !

Progress is quite slow isn't it, but the crane is up, the cladding is now on. That's taken awhile.

The twin tower will be a hotel, run by Scandic Hotels I think. The Pratunam Complex is finished.

The residential project is now being marketed.

[Beer-diow, khao-neow, mai-an!]

I'd be slightly suspicious given how slow progress has been - screams of low cash flow...

[expatinasia]

"I'd be slightly suspicious given how slow progress has been - screams of low cash flow... "

I don't know of any building that has been constructed according to schedule. The Ascot/Skyview project was well-financed, and it took a year longer than expected. When I asked the developer why it took so long, the representative responded "traffic".

[Beer-diow, khao-neow, mai-an!]

All the ones I know have finished on time.

[WhiteShiva]

All the ones I know have finished on time.

<{POST_SNAPBACK}>

We are still talking about property development in Bangkok, right?

[osten]

Anything new on this Metropolis in Pratunam? I also am interested in a unit and would appreciate any info.

Thanks,

osten

[Beer-diow, khao-neow, mai-an!]

Still not finished, but they are rejigging the mall downstairs to be a new MBK. Should make it lively, but perhaps not ideal to live under. Why not pop into the showroom?

[trajan]

isnt the Metropolis condos in the down-market Pratumwan mall complex, leasehold only (not freehold)....if so, I wouldnt personally buy one of these.....but just my opinion I would rather look at the Platinum center across the street (if you like that area).....they seem to be diligently working on that project and have announced an opening soon.....unlike the turtle like progress of the Metropolis over the years....

[Gary A]

Of course it's up to you what you do but if it were up to me the building would be finished an it would be inhabited. How many unfinished projects would you like to look at? We are in the midst of another bubble in my opinion and people are going to get hurt.

[PeaceBlondie]

Pardon me, I've only bought 8 or 9 houses in my lifetime, and they were already built. How do you decide that hokey make-believe artists' conceptions are going to be livable? Who puts down an incredibly large deposit on literal blue sky? Bangkok doesn't even have blue sky.

[mijan24]

Of course it's up to you what you do but if it were up to me the building would be finished an it would be inhabited. How many unfinished projects would you like to look at? We are in the midst of another bubble in my opinion and people are going to get hurt.

<{POST_SNAPBACK}>

GarryA although a complete novice in the world of finance - I agree with the latter part of your statement.

The Thai dislike for secondhand housing results in drawn out selling periods + many all but new cars/pickups sitting sitting sitting on used car lots is an indication that the over extension of credit is having its toll.