The Hyde Sukhumvit complex delayed?

[a1falang]

The Hyde condominium on soi 13 was finished last year but the adjacent complex fronting onto Sukhumvit Road seems to be going nowhere quickly. Anyone know what the deal is? There are workers on site but very little progress this year. Why has construction slowed right down?

[Thainess]

The money is running out, or so I heard. It will probably be abandoned and fall into gradual decay like so many other buildings in Bangkok if you take the time to look around. The Thai economy is in the doldrums and the outlook is even worse.

[Scouse Twoccer]

It will probably be abandoned and fall into gradual decay like so many other buildings in Bangkok if you take the time to look around.

Nonsense.

[a1falang]

The money is running out, or so I heard. It will probably be abandoned and fall into gradual decay like so many other buildings in Bangkok if you take the time to look around. The Thai economy is in the doldrums and the outlook is even worse.

Interested to know where you heard this. Can't imagine they would abandon it outright when attached to an upmarket condo. The owners there would complain since the market value of their units would drop with an concrete skeletal eyesore right next door.

[berybert]

It will probably be abandoned and fall into gradual decay like so many other buildings in Bangkok if you take the time to look around.

Nonsense.

Yes total nonsense, nothing a paint brush couldnt solve.

[wordchild]

Grande Asset (the developer) are not in the greatest financial health. I suspect they are focusing their attention (and cash) on their new condo further down soi 11. They will get a faster cash payback from this which is what they need. However I am sure the site next to the Hyde will get redeveloped at some point, it's a valuable location, it just may not be GA who finish it.

[Bender]

these condo were built with foreign investor money. In the last few years, the money completely dried out as the investor did leave the country. I pity people who bought a condo out of plan.

[SunLover2]

Some big risk buying pre-constuction units in Thailand. Pay the premium and buy one fully finished, or better yet my advice would be rent for a while in a building you fancy to test the surroundings (read: neighbors) for suitability.

And FWIW a new property tax was put in place this week. While currently only on housing worth > 50M baht it is only a matter of time until the threshold drops. One realtor was quoted as saying there might have been market "panic" if it had been around the 10M baht level.

SL

[KhonKaenKowboy]

for anyone from Europe/Canada or America ; it is minute....but they do tend to increase. The tax on vacant land seems to be the more significant part of the equation. Might help reduce trashed lots that the owners are just waiting forever to develop or sell.

[a1falang]

I saw a cement mixer pull in the other day, and through the open gate I saw plenty of workers. I suppose if the project was in trouble they would just stop ordering more concrete and fire all the labourers to save on wages.

[KhonKaenKowboy]

First place in Thailand that I ever saw a no urinating sign...soi 13...just down from the Miami Hotel.

[Scouse Twoccer]

these condo were built with foreign investor money. In the last few years, the money completely dried out as the investor did leave the country. I pity people who bought a condo out of plan.

Construction continues, no sign of stopping or "money completely dried up".

[Scouse Twoccer]

And FWIW a new property tax was put in place this week. While currently only on housing worth > 50M baht it is only a matter of time until the threshold drops.

Why is it 'only a matter of time until the threshold drops'? Much more likely that it would be increased.

[Scouse Twoccer]

First place in Thailand that I ever saw a no urinating sign...soi 13...just down from the Miami Hotel.

Written in Nigerian probably.

[trajan]

was previously announced that it will be a HYATT REGENCY (300 rooms, 26 suites) for 2017 (but I think this timeframe will be delayed)

http://www.hotelnewsresource.com/article67803.html

http://newsroom.hyatt.com/2012-11-13-HYATT-ANNOUNCES-PLANS-FOR-A-HYATT-REGENCY-HOTEL-IN-BANGKOK

[a1falang]

was previously announced that it will be a HYATT REGENCY (300 rooms, 26 suites) for 2017 (but I think this timeframe will be delayed)

http://www.hotelnewsresource.com/article67803.html

http://newsroom.hyatt.com/2012-11-13-HYATT-ANNOUNCES-PLANS-FOR-A-HYATT-REGENCY-HOTEL-IN-BANGKOK

Thanks for the links. That was the kind of solid info I was after.