On my last visit to Jomtien, I recall seeing a string of mega-condo projects along Jomtien 2nd road (I believe) when heading south.

Central festival was flooded with sales counters manned by Russian speaking staff who were pushing shoe-box sized condos in these projects.

Out of curiousity, with the recent crash of the Ruble, what's the state of these projects?

Cheers

IMO they will never get finished.

Atlantis has just finished and people are living there. Most of the others seem to be progressing. I think the most obvious impact of the Rouble devaluation (at least for new builds) will be on projects that have not been started yet, like the recently cancelled Ocean Pacific project. Though the Riviera had a big launch party the other evening, so who knows?

Savannah Sands, The Venetian, Seven Seas 1 and 2........Thai-Indian developers, Russian clientele......I hold my breath.

Many Of the projects around jomtien have a reduced workforce

from what was going on 6 months ago.

Not looking to good I think.

Property crash is imminent

Was down there last week... most of them seem more or less finished although not sure about occupancy rates ?... must be 1000s of rooms ??.... so far, it looks like there will be no unfinished monstrosities littering the skyline like back in '97... Although the one exception is the the one at the end of of Hali Bali Pier run by Tulip Group, seems to be abandoned ??..

Wait until Centric Sea enters the fold,whatever or who developed this monster is in for a sorry time. Now advertising"Seeing the Unseen" a few for sale. Could put it another way in developer terms "Wishing the Seen,being Unseen"

Seven Seas Chaiyapruek currently looks very poorly, sad and windblown

Was down there last week... most of them seem more or less finished although not sure about occupancy rates ?... must be 1000s of rooms ??.... so far, it looks like there will be no unfinished monstrosities littering the skyline like back in '97... Although the one exception is the the one at the end of of Hali Bali Pier run by Tulip Group, seems to be abandoned ??..

Wasn't this one stopped because of dodgy building permits ?

Maldives ,think that is the name,pretty close to to my favourite spot Suwan Suwarn looks bit depleted as well,now that is a big place too

Maldives ,think that is the name,pretty close to to my favourite spot Suwan Suwarn looks bit depleted as well,now that is a big place too

Is it

And I was thinking buy it.

It was looking cool on photos tho...

Maldives ,think that is the name,pretty close to to my favourite spot Suwan Suwarn looks bit depleted as well,now that is a big place too

Passed there by coincidence 3 days ago and had the same impression. I was wondering how they gonna complete that place with only a few workers on site.

By the way, didn't the same project have a year long delay for starting the works in the first place.

I think the comapny who promtes it has been in the news as having financial problems for a few years now.

A while ago a developer gave an interview......2014: 20,000 units (to be) completed and 2015 a 8,000 units more..........

the rooms that the chineese will be buying soon and living in and also renting to farangs??

by 2016 after the followiing year of raised prices to make up for less customers does what it does the place will grasp that its mostly place for wealthy thai's on the weekend and chinese tourist.

There are sales counters at the bigc/tesco malls promoting the Venetian, Seven Seas and if I remember correctly, the Grand Carribean.

Are these projects still alive?

Cheers

There are sales counters at the bigc/tesco malls promoting the Venetian, Seven Seas and if I remember correctly, the Grand Carribean.

Are these projects still alive?

Cheers

The buildings of the Grand Carribean are up and doors and windows are going in.

There are sales counters at the bigc/tesco malls promoting the Venetian, Seven Seas and if I remember correctly, the Grand Carribean.

Are these projects still alive?

Cheers

The buildings of the Grand Carribean are up and doors and windows are going in.

But i doubt they will make their (revised) finish date of Q3 2015. Still a lot to do probably be mid 2016 before it's up and running as a working condo.

The brochures showed units which start at 22 sq.m , which seems pretty small.

Also, how's the construction quality?

cheers

There are sales counters at the bigc/tesco malls promoting the Venetian, Seven Seas and if I remember correctly, the Grand Carribean.

Are these projects still alive?

Cheers

There is activity at Grand Caribbean. They have been painting. The building is visible from my balcony.

Wait until Centric Sea enters the fold,whatever or who developed this monster is in for a sorry time. Now advertising"Seeing the Unseen" a few for sale. Could put it another way in developer terms "Wishing the Seen,being Unseen"

Centric Sea is developed by the infamous Shinawatra family

With the over flow of new condos built, how do the various developers sell these newly built apartments? I realize many Thais purchase these as an "investment" (and can get a loan from their bank) but it's a different story with a foreign purchase. A "farang" must cough up cash which is around $100,000 for the basic condo room to 3X the amount for something nicer...and in ten years there is no appreciation. The retired Westerner use to come to Pattaya and purchase a condo, but due to the economic turn-down a few years ago and the rise in air-fare, Europeans and Americans are not visiting Pattaya as they use to. The developers were gearing for the Russian market, but that will be dismal with Putin's arrogance in world affairs...and I cannot think of the Chinese being able to affort to buy one of these condos or wanting to make this their vacation retreat. So who will buy?

The buildings of the Grand Carribean are up and doors and windows are going in.

Yes, that one seems to be progressing quite fast, probably due to its central location and fairly high prices. I also suspect that units there have sold well and that the developers are keen to finish and get paid their balances.

The story with the cheaper developments further south in Jomtien may be quite different, with many "buyers" not being in any sort of hurry to complete and not having much to lose if they dont.

More to the point is how will the infrastructure handle all the extra people if these units are occupied.

Traffic, water, electricity etc

More to the point is how will the infrastructure handle all the extra people if these units are occupied.

I dont think there's much likelihood of that happening! Unless perhaps they are all rented out nightly to short-term Chinese tourists.

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Anybody know what the state of play is with the Cetus 49 storey project, just south of Chaiyapuuk?

When I last enquired, they said that the first occupiers would be moving in this month.[July]

Anybody know what the state of play is with the Cetus 49 storey project, just south of Chaiyapuuk?

When I last enquired, they said that the first occupiers would be moving in this month.[July]

When I drove past last week they were finishing the pool area and the common areas (shops?) on the ground floor. The balconies etc on the residential floors above looked finished. I suppose it's possible that people could move in this month.

People were living in Reflection while they were still finishing other floors.

With the over flow of new condos built, how do the various developers sell these newly built apartments? I realize many Thais purchase these as an "investment" (and can get a loan from their bank) but it's a different story with a foreign purchase. A "farang" must cough up cash which is around $100,000 for the basic condo room to 3X the amount for something nicer...and in ten years there is no appreciation. The retired Westerner use to come to Pattaya and purchase a condo, but due to the economic turn-down a few years ago and the rise in air-fare, Europeans and Americans are not visiting Pattaya as they use to. The developers were gearing for the Russian market, but that will be dismal with Putin's arrogance in world affairs...and I cannot think of the Chinese being able to affort to buy one of these condos or wanting to make this their vacation retreat. So who will buy?

There are chinese with means.

http://blogs.wsj.com/chinarealtime/2014/06/10/china-now-has-more-millionaires-than-any-country-but-the-u-s/

They are buying up NYC!

http://www.forbes.com/sites/kenrapoza/2014/07/30/for-rich-chinese-u-s-becoming-giant-monopoly-game/

1,000 units down at the Lumpini and very empty yesterday. Rent is way to high at 20,000 baht .