A closer look at Kurt Svendheim and the New Nordic Group

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A closer look at Kurt Svendheim and the New Nordic Group

 

 

The New Nordic Group has been one of the major players on the Pattaya real estate scene for over a decade with their large presence in the Pratamnak Soi 4 area. The New Nordic Group CEO Kurt Svendheim has seen his dream go from strength to strength over the years and has changed to meet the ever changing demographics of Pattaya and the types of people and differing nationalities who come to the city. Having been incredibly successful with this approach Kurt Svendheim has decided that his marketing approach needs to diversify again – this time aiming at targeting more Thai buyers.

 

In late 2013 the Group announced the formation of a subsidiary company called New Nordic Living Thailand which has aimed solely at promoting all of the New Nordic projects to Thai investors. The Group offers a range of different properties that will be attractive to the Thai market with everything from studios to large, 3 bedroom units available.

 

Speaking to the Pattaya Mail when this idea was first announced back in 2013 Kurt Svendheim said “In the past our projects have done very well with our European customers, particularly the Scandinavians. Thai buyers however amount to only 5-10% of our business, which is quite low, and we have therefore decided to present new investment options for our Thai customers.”

 

“We are focused on real-estate in the Khao Pratamnak area only as we want to be certain that we can thoroughly manage all the projects, starting from construction and making sure that we maintain the highest standards for all our developments.  This would be difficult to accomplish if our projects were scattered more liberally around the city and nearby areas,” added Mr. Svendheim.

 

In order to achieve their goal the Group has decided on offering a number of incentives that will no doubt appeal to the Thai market as they have done with the European market. The already hugely successful rental guarantee whereby rentals of 10% are guaranteed for 5, 10 or even 20 years will naturally be very appealing but there is added incentive of a buyback option that will be available on several units that are in the Thai quota. This buyback option in effect means that not only will investors gain a guaranteed monthly return; they will also have capital protection – something that is extremely appealing and often hard to find.

 

Investors can gain the added confidence from the fact that the scheme has been operating for around six and a half years and has always paid on time and in full. Unlike many similar schemes that are offered by other developers the New Nordic scheme can be supported and backed up by sound infrastructure that means at only 50% occupancy means all guarantees can be met. Kurt Svendheim personally owns several of the properties along with the Group themselves retaining ownership of several more so therefore the burden of meeting these guarantees is less arduous.

 

Another reason why the New Nordic projects are seen as good investments is simply down to their track record of getting projects completed on time. 33 projects have already been completed and a new project is completed on average every 2 months. Every time you go to the area you will be amazed at the hive of activity that is taking place as the village continues to grow and go from strength to strength. It is a real credit to Mr. Svendheim and the rest of his New Nordic team that everything runs so smoothly and to schedule.

 

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