Global Top earmarks Bt1.5 billion for next condo project in Pattaya

“We’re expanding our investment in Pattaya after seeing strong demand in this market,” the company’s co-director Sam Heli said.
He said many of its buyers were foreigners.
“We have especially received a high demand from the European market since the exchange rate is in their favour,” he said.
Heli said Chinese tourists who came to Pattaya found it a very exciting place and they went back home and told their friends.
At a recent sales exhibition the company held, he said it sold 50 units at City Garden Tower to China buyers. Presales worth Bt750 million had reached 35 per cent.
The company also provides property rental services for investors and offers a return of investment of between five per cent and seven per cent a year.
Heli said that 30 per cent of the group’s customers for its condominiums were from Europe and the US, who mostly bought a condo as an investment or a second home.
Thai accounted for 60 per cent of its customers and they used the condo as a vacation property and an investment, while the remaining 10 per cent were Asian – mostly Chinese from Singapore and China.
He said the group had seen tremendous potential from the Chinese market recently due to their spending power.
Construction on City Garden Tower is slated to start in 2015 for a 2017 completion.
Global Top Group has been in Pattaya for more than 15 years and has developed four condominium projects there – City Garden Pratumnak, City Garden Tropicana, the Cloud Pattaya, and Paradise Ocean View.