Increase In Incompleted Buildings And Unoccupied Buildings ?

[morrobay]

For one example, The Bay project (large entertainment mall) between Soi 5 and Soi 6 on Beach rd

has not had any real work done for at least a month.It looks like work has just stopped.

Edited June 8, 2016 by morrobay

[JESSVANPELT]

its work has stopped for over a year do to them building unapproved and getting caught, now they need to fix the parking situation and downsize the overall space.

As for anymore then that, I don't see many around, no more then usual and there are the ones that have been empty for years.

[JESSVANPELT]

its work has stopped for over a year do to them building unapproved and getting caught, now they need to fix the parking situation and downsize the overall space.

As for anymore then that, I don't see many around, no more then usual and there are the ones that have been empty for years.

Sorry I was thinking of a condo project.

I did in fact walk by there yesterday and there was work going on, its typical after the rough work is complete there is a pause before the finish work gets done, as its normally a different groups of workers and a new bidding process may have to occur before they start, but it is on schedule

[Suradit69]

Ah, the weekly "Is Pattaya Going Downhill" thread.

Is this the final nail in the coffin?

Are tourist numbers down?

Is this low season worse than usual?

Has Pattaya become a ghost town?

[Sooo Upto Me]

Ah, the weekly "Is Pattaya Going Downhill" thread.

Is this the final nail in the coffin?

Are tourist numbers down?

Is this low season worse than usual?

Has Pattaya become a ghost town?

Simple answer to ur 4 questions, YES

[Ulic]

Not sure about Pattaya but yesterday, I was touring about a little in Jomtien on the roads

that join the beach road to 2nd road and I was shocked to see the number of abandoned

buildings and incomplete buildings. All within a 100-300 meters from the beachfront.

[cadle1]

I Love Pattaya but we have to be honest just ask the street vendors or market traders Pattaya is very quiet all year compared to a few years ago...

[Fallangpakwan]

Doesn't matter where you are; if you drive from Chiangrai to Trang;Mae Sot to Mukdahan; anywhere, and you will see probably 40 to 50% buildings abandoned or just unused; and yet more are being built wherever you look.

[JESSVANPELT]

Tourist arrivals are up double digits year to date. over 5% alone in May. This no different then any other low season form Song Kran until Mid October ( the rainy season) things have always been slow.

I have read THE BUSINESS CLOSING THREADS ETC, AND I Have yet to read anything from a poster that has the least bit of credibility. I frequent the area from Pattaya Tai to Pattaya Nua, Beach road to Sukhumvit, and there is not a thing going on that would single a problem.

Edited June 8, 2016 by JESSVANPELT

[oldlakey]

Tourist arrivals are up double digits year to date. over 5% alone in May. This no different then any other low season form Song Kran until Mid October ( the rainy season) things have always been slow.

I have read THE BUSINESS CLOSING THREADS ETC, AND I Have yet to read anything from a poster that has the least bit of credibility. I frequent the area from Pattaya Tai to Pattaya Nua, Beach road to Sukhumvit, and there is not a thing going on that would single a problem.

Good news now I can sleep easy

[lonewolf99]

Not sure if I can actually put my thoughts on the internet on this subject. But here goes.

You can't keep all your money in a bank account....you have to put it somewhere else ?

On every highway and byeway in this land there are row upon row of black mouldy, empty old shop houses and just up the same road another brand new row - all empty. The Thai banks cannot be that stupid to lend out money year on year to people trying to get a return on shop houses surely ?

There are still empty shopping mall and condo developments form the 1990's in Bangkok that failed due to the crash back then.

The other obvious enterprises are the mini Marts, you just cannot get enough of them along some Sois...the same goes for Opticians and shops selling luggage and shoes ? Every town I have been in has the same franchises, with the staff sitting around doing nothing. Burning electricity endlessly with full on chilled A.C. and the doors standing open.

None of it makes sense, especailly business sense ? Ever the cynic, I believe that there is has to be an alternative motive for all this other than just serving the public and using electricity.

How many Thais do you know that wear real RayBan specs, crocodile cowboy boots or green and orange leather brogues made from stingrays or ostriches ?

Singapore, currently has had a drop off 17% in retail sales with an over supply of malls with the same shops selling the same overpriced stuff. But here in LoS, ever onwards, more and more of the same retail units, more condos, more malls, more shop houses, more baggage......

[aussienam]

Jomtien which had a boom in projects a few years ago now has several abandoned construction sites. Speaking with someone who owns multiple properties and close connections to a particular large developer, he claims that there are a few resort style condo projects in serious trouble and likely to not be completed now.

I don't want to name those projects but they are very big ones and I would hate to think how investors would have a chance at seeing their money again.

[AdamRich]

Ah, the weekly "Is Pattaya Going Downhill" thread.

Is this the final nail in the coffin?

Are tourist numbers down?

Is this low season worse than usual?

Has Pattaya become a ghost town?

I do not know about all of that and do not care. But what I do know is that I am still having fun and will continue to do so until the wheels fall off. I will leave Pattaya right behind the guy that turns the lights off.

[Fallangpakwan]

While on this subject; what do you folks out there think about the very large property on the corner of North Rd and 2ND Rd Pattaya, opposite BEST supermarket, that was "developed" around the mid 90's; and about 15% occupied till last year; now all knocked down and another "development" under construction on the same site,(including on the adjacent land that was the stupid JJ Market for a short while).

[Orac]

While on this subject; what do you folks out there think about the very large property on the corner of North Rd and 2ND Rd Pattaya, opposite BEST supermarket, that was "developed" around the mid 90's; and about 15% occupied till last year; now all knocked down and another "development" under construction on the same site,(including on the adjacent land that was the stupid JJ Market for a short while).

isn't that the new Terminal 21?

http://www.thaivisa.com/forum/index.php?/topic/914016-Why-Build-a-Terminal-21-in-Pattaya%3F-by-The-Pattaya-Sleuth

[JESSVANPELT]

Jomtien which had a boom in projects a few years ago now has several abandoned construction sites. Speaking with someone who owns multiple properties and close connections to a particular large developer, he claims that there are a few resort style condo projects in serious trouble and likely to not be completed now.

I don't want to name those projects but they are very big ones and I would hate to think how investors would have a chance at seeing their money again.

Rule number one in Thailand never buy off plan........its a fools way to get screwed, there is no way an individual investor is safe unless buying a completed project.

[JESSVANPELT]

While on this subject; what do you folks out there think about the very large property on the corner of North Rd and 2ND Rd Pattaya, opposite BEST supermarket, that was "developed" around the mid 90's; and about 15% occupied till last year; now all knocked down and another "development" under construction on the same site,(including on the adjacent land that was the stupid JJ Market for a short while).

Terminal 21 is being developed there it will be larger then CentraL

[Fallangpakwan]

While on this subject; what do you folks out there think about the very large property on the corner of North Rd and 2ND Rd Pattaya, opposite BEST supermarket, that was "developed" around the mid 90's; and about 15% occupied till last year; now all knocked down and another "development" under construction on the same site,(including on the adjacent land that was the stupid JJ Market for a short while).

Terminal 21 is being developed there it will be larger then CentraL

Yes I had been told that was what it was going to be; and the hotel part of it to be 24 floors high

[mrfaroukh]

Ah, the weekly "Is Pattaya Going Downhill" thread.

Is this the final nail in the coffin?

Are tourist numbers down?

Is this low season worse than usual?

Has Pattaya become a ghost town?

I have noticed that the number of tourist has gone down both in high season and low season for the past 2 years.

[newnative]

The Bay shopping center was originally suppose to be open in December 2015, according to their website, so I wouldn't say it is 'on schedule'. But, it should eventually get finished. The construction fence has come down in front and that's a good sign.

[JESSVANPELT]

The Bay shopping center was originally suppose to be open in December 2015, according to their website, so I wouldn't say it is 'on schedule'. But, it should eventually get finished. The construction fence has come down in front and that's a good sign.

The bay website says there grand opening would be in 2016, if work went as planned? Anyway i agree It will open.

[Seizetheday]

While on this subject; what do you folks out there think about the very large property on the corner of North Rd and 2ND Rd Pattaya, opposite BEST supermarket, that was "developed" around the mid 90's; and about 15% occupied till last year; now all knocked down and another "development" under construction on the same site,(including on the adjacent land that was the stupid JJ Market for a short while).

Terminal 21 is being developed there it will be larger then CentraL

I would have thought anyone buying one of the View Talay Condos off the plan would have done very well.

[chicowoodduck]

Ah, the weekly "Is Pattaya Going Downhill" thread.

Is this the final nail in the coffin?

Are tourist numbers down?

Is this low season worse than usual?

Has Pattaya become a ghost town?

Ghost town? Geez, I would hope so.....than it would me nice and quiet......???

[Berty100]

The Bay shopping center was originally suppose to be open in December 2015, according to their website, so I wouldn't say it is 'on schedule'. But, it should eventually get finished. The construction fence has come down in front and that's a good sign.

Maybe they sold the fence to recover some of their debts

[shirtless]

There is a global monetary crisis at the moment , things will pick up in the distant future, and Pattaya will still be here .

[JESSVANPELT]

There is a global monetary crisis at the moment , things will pick up in the distant future, and Pattaya will still be here .

A global monetary crisis? where are you coming from? The Dollar is stronger then it has been, The Pound lately is just slightly below its 5 year average, and well I admit the Aussie Dollar is weak, But nothing near a crisis!

[Berty100]

There is a global monetary crisis at the moment , things will pick up in the distant future, and Pattaya will still be here .

A global monetary crisis? where are you coming from? The Dollar is stronger then it has been, The Pound lately is just slightly below its 5 year average, and well I admit the Aussie Dollar is weak, But nothing near a crisis!

The strength of the Dollar and Pound are part, if not the cause, of the monetary crisis.

Edited June 9, 2016 by Berty100

[JESSVANPELT]

There is a global monetary crisis at the moment , things will pick up in the distant future, and Pattaya will still be here .

A global monetary crisis? where are you coming from? The Dollar is stronger then it has been, The Pound lately is just slightly below its 5 year average, and well I admit the Aussie Dollar is weak, But nothing near a crisis!

The strength of the Dollar and Pound are part, if not the cause, of the monetary crisis.

Most of the currencies that are tied to the dollar are also doing very well, So please provide me with some facts rather then a very weak opinion

[Berty100]

There is a global monetary crisis at the moment , things will pick up in the distant future, and Pattaya will still be here .

A global monetary crisis? where are you coming from? The Dollar is stronger then it has been, The Pound lately is just slightly below its 5 year average, and well I admit the Aussie Dollar is weak, But nothing near a crisis!

The strength of the Dollar and Pound are part, if not the cause, of the monetary crisis.

Most of the currencies that are tied to the dollar are also doing very well, So please provide me with some facts rather then a very weak opinion

Why are currencies tied to the Dollar ALSO doing well?

Logic answer : Because they are tied to that overvalued currency of course, and have no other option as going the same direction.

http://finance.yahoo.com/news/billionaire-investors-back-gold-price-224000053.html

A wildly overvalued U.S. dollar and increasing uncertainty about global economic growth has driven many investors back to gold.

Edited June 9, 2016 by Rimmer
Flame removed

[newnative]

The original grand opening was December 2015. They have obviously adjusted the date on their website--which is good. A lot of developers don't keep their websites updated very well.