Kingdom Property sells The Suites Tower at Southpoint

Kingdom Property has sold The Suites Tower–the twin-tower Southpoint Pattaya project–to an unnamed Thai investor. The local buyer plans to develop the 224-unit building into internationally-managed serviced residences.

The purchase represents approximately 30 percent of the saleable area of the 672 condominium project, according to Kingdom Property, which says it has amassed a project pipeline valued at 10 billion baht in Pattaya.
The developer claims that interest in Southpoint "has been strong since its Environmental Impact Assessment (EIA) approval in November last year" and ahead of the opening of its sales show room in April. Buyers are mostly from Thailand, Japan, China and Russia.

"Pattaya has very strong fundamentals as a destination offering an attractive investment proposition, superb access and infrastructure as well as an enviable lifestyle with sailing, golf, waterparks, shopping and dining as key draw cards," said Nigel Cornick, Kingdom Property CEO.

"We are delighted with this transaction as it is not only a good sale for us, but it will add greater value to those seeking units in The Residences Tower – or those who have already made a purchase – and further compliment the Pratumnak area where we are located."

Southpoint Pattaya is on Pratumnak Hill, a short distance south of Bali Hai. It offers extensive sea views and is walking distance of the Royal Varuna Yacht Club. The 2.5 billion-baht development is on a four rai freehold plot and will be completed in 2015. Unit sizes range from studios of 30sqm to two-bedroom units of 61 and 97sqm. Prices range from 70,000 baht to 120,000 baht per square metre.

Features include a dedicated sky deck in each tower with an infinity edge lap pool and fitness center along with a landscaped family zone with a children's pool and playground.

For Southpoint Pattaya sales visit www.southpointpattaya.com or call 038 416 441.