"The Park" development on Nanai road........stalled?

[xylophone]

Went to visit a friend of mine yesterday on the little soi opposite the Phanason development called "The Park", towards the northern end of Nanai Road, which consists of over 1000 units being built.

 

He informed me that there has really been no work on the place for over two months, and when you look closely you can see that the green safety netting that has been put up around the building works, has rotted and fallen away, out of neglect it would seem.

 

I do know a couple of ladies who have bought apartments off the plan in this development, so I was wondering if anybody here has any knowledge or news about this development?

[xylophone]

Well, no answers to my original post so I decided to do some investigations on my own.

 

There is a sales office at the front of one completed building and when I asked the lady why most of the building had stopped on this very large site, she tried to explain that it had slowed down because everyone was focusing on building the clubhouse just behind the sales office, but that the whole site was still due to be completed next June.

 

I then took a look at the clubhouse, and it looked about the size of a very large bungalow, with just a few people working on it, with no other activity anywhere else on the site. In fact when I looked up I could see the rotting green safety netting along with the rusted steel reinforcing poking out from the concrete on the few incomplete apartments that had been started, and these were just behind the sales office, but facing the Road, and surely needed to be completed before anything else, if not for appearance only?

 

For a development that is going to have over 1000 units, with none completed yet, and just a skeleton staff wandering around the place, I seriously doubt for the future of this development. This especially with many hundreds of small condos coming online (supposedly) from the "Ace" and "Charm", not to mention a few other smaller ones.

 

Like the similar poster on the Chiang Mai forum I do suspect a correction is due.

 

 

[NamKangMan]

Well, no answers to my original post so I decided to do some investigations on my own.

 

There is a sales office at the front of one completed building and when I asked the lady why most of the building had stopped on this very large site, she tried to explain that it had slowed down because everyone was focusing on building the clubhouse just behind the sales office, but that the whole site was still due to be completed next June.

 

I then took a look at the clubhouse, and it looked about the size of a very large bungalow, with just a few people working on it, with no other activity anywhere else on the site. In fact when I looked up I could see the rotting green safety netting along with the rusted steel reinforcing poking out from the concrete on the few incomplete apartments that had been started, and these were just behind the sales office, but facing the Road, and surely needed to be completed before anything else, if not for appearance only?

 

For a development that is going to have over 1000 units, with none completed yet, and just a skeleton staff wandering around the place, I seriously doubt for the future of this development. This especially with many hundreds of small condos coming online (supposedly) from the "Ace" and "Charm", not to mention a few other smaller ones.

 

Like the similar poster on the Chiang Mai forum I do suspect a correction is due.

 

 

 

 

"I do suspect a correction is due." - no, not a correction, it will be bursting bubble. 
 

[steelepulse]

Seems to be an oversupply of condo units now.  The gravy train in this niche sailed 5 years ago.

[jocko]

Maybe the money has gone.

That part of Nanai is not that popular for anything a bit steep for walking for some i know i used to live in the small soi, the building workers had there camp down there.

 

There is a small mom and pa shop just up the hill from there if i was there i would ask them they know everything.