IFA Hotels & Resorts (IFA HR), a leading international resort and residential developer, has launched its fourth residential development in Pattaya, Thailand.
Unixx South Pattaya, a 1,207-unit dual-tower project is being built by award-winning, Bangkok-based property developer Raimon Land, in which IFA HR has a major shareholding.
The launch follows a string of successful developments in the popular beach resort including Northshore, Northpoint and Zire Wongamat.
“The launch of Raimon Land’s newest residential brand – Unixx – is of particular importance as it has been designed to significantly broaden the company’s appeal to young investors seeking properties that offer quality, style, convenience and healthy returns,” said Werner Burger, president & COO of IFA HR.
Just a 90-minute drive from downtown Bangkok, and 60 minutes from Suvarnabhumi International Airport, Unixx South Pattaya will be easily accessible from Thailand’s two main gateways.
The project will occupy over 1 hectare of freehold land along Pratumnak Road, steps away from the King Rama IX Royal Park, Pattaya’s vast shopping and recreational venues and popular beaches.
Hubert Viriot, Raimon Land’s chief executive officer, said: “Given our experience in Pattaya over the past seven years and the recent successes of Northpoint and Zire Wongamat, it was only natural to launch our first Unixx project in Pattaya. The market in Pattaya continues to go from strength to strength and, with prices starting just under $32,000, Unixx South Pattaya offers a perfect combination of quality and affordability.”
Designed by HB Design, the same architectural firm responsible for Raimon Land’s super luxury Bangkok project The River, Unixx South Pattaya will feature Raimon Land’s distinctive modern design and quality finishing within a smaller footprint.
Apartment layouts will include studios, one- and two-bedroom configurations, with sizes ranging from 22 to 62 sq m. All units will offer views over the Gulf of Thailand, Pattaya or Jomtien.
One of the project’s key design features will be the resort-like facilities and thoughtfully designed amenities spread over half a hectare of lush gardens and tropical vegetation, offering residents and their guests a relaxing vacation destination.
Some of the offerings include multiple swimming pools, sports and recreational facilities, children’s playground, secluded outdoor barbecue areas and meditation pavilions for the exclusive usage of condominium owners.
“South Pattaya has one of the fastest growing economies in the country and is a premier tourism destination in Thailand set to reach 4.5 to 5 million tourists by the end of 2011. We expect to see these numbers increase even further upon the completion of the Airport Rail Link extension from Suvarnabhumi Airport,” Viriot said.
“This, along with various other market conditions, including a surge in demand for smaller-sized condominiums from both local and foreign buyers, makes Pattaya an exceptional investment destination for Gulf residents seeking a property that will offer consistent rental returns as high as 6 to 8 per cent.”
Recent research shows that to attempt to meet this demand, no fewer than 14 new projects have been launched in central and South Pattaya within the last 12 months, totalling 2,837 units at an average price of $2,170 per sq m. At the same time, market research shows that there is even greater demand for one bedroom sized units priced below $95,000.
Construction of the $94million project, which is financed by Thanachart Bank, is scheduled to begin in the third quarter of 2012 and to be complete towards the end of 2014.
“We’re looking forward to measuring what is sure to be a positive response to launch of the Unixx brand and have already begun identifying additional markets for its expansion. We will have more news to share on these other markets in the coming year,” concluded Burger.