Sena moves to acquire owner of pattaya country club
Sena Development is investing Bt590 million to acquire 99.99 per cent of T Treasury Holding Co, the owner of the Pattaya Country Club and Resort in Chon Buri province.
"We plan to develop both residences and a hotel in Pattaya next year to serve the demand for second homes," Kessara Thanyalakpark, a director of Sena Development, said yesterday.
This is part of Sena’s focus on expanding upcountry, she said.
The Country Club’s 758-rai (121-hectare) property has undeveloped space that can be improved as a residential estate and hotel. So far only the golf links and clubhouse have been built on it.
The first phase worth Bt200 million to Bt300 million of Sena’s residential project in Pattaya will be low-rise homes. The next step will be a hotel and condominium project.
These are part of its plan to launch six residential projects worth nearly Bt2 billion in the coming year.
"This project will take three to five years to develop because the site has more land to develop in the long term," she said.
Demand for second homes outside Bangkok, especially in Pattaya, has picked up strongly after the flood hit the capital and its suburbs.
In Bangkok, the company is currently constructing a community shopping centre called Sena Fest on 4 rai of land in Thon Buri’s Charoen Nakhon area, which is expected to open in the first quarter of 2013.
"This is our strategy to increase rental income to at least 5 per cent of our total revenue three years from now," Kessara said.
