"Under Court Order" & "Land Dispute"

[prk888]

Two large signs hanging from railings on Suk just south west of Ban Amphur. Seems to be the big condo lands/gardens and next door to the new RITTA development.

Been there some time so does anyone local have any clues?

[taichiplanet]

the original developer of the condo took a loan on some common property and some common land (a small section of the garden area), as well as her own apartments. the finance company is trying to forclose but everything was put up for auction in one lot. Of course the common property and land cannot be legally sold, so the co-owners stopped the sale by court order.

An agreement has been reached to seperate the common property from the forclosed apartments. So now the apartments can be sold and the common property can be signed over to the condo (as a whole) to legally become common property. Just one of those weird convoluted court things, where everything has to be done a certain way.

the signs have only been up a week or 2.

BTW the Ritta development is supposedly a 7 storey hotel being built by the owner of the Thai Rolex franchise. Seem to be a few smaller building towards the sea (townhouses? shops?).

Edited May 25, 2016 by taichiplanet

[prk888]

thanks for the info. & update. Might also be interesting to hear what the eventual outcome will be, when the signs have come down of course

[prk888]

taichiplanet - why are the signs out there? part of someone's strategy i assume. But whose and why ?

[thinkingman]

There is an architect's concept drawing of the Ritta development available at the Krisda front desk. (Krisda is immediately south of the Ritta development)

There will (supposedly) be a 7 or 8 story hotel fronting Sukhumvit, with 3-4 story low rise units on both sides of a pool going down to a restaurant/bar seaside. Looks quite upscale and as far as I could tell at the end of March, was following the concept drawing. For some reason, I think Marriott has been signed on as the manager.

[sattahip]

I was informed some time ago by the guard on this RITTA site that the development is a Marriot Renaissance Resort and Spa-rather upscale.