Pattaya Property

Lake Villas Holiday village Pattaya May Newsletter.
This is the first of a regular monthly newsletter to all owners at Lake Villas so welcome to you all.
Since the inception of Lake Villas its design and layout was supposed to emphasize the open space feeling of a development in the country, we have kept to this concept and now that the project is slowly maturing with its new trees and scrubs our aims and ideas are coming to fruition.
The development has now been open since November 2007 with the first owners coming in early December to view their properties. As most of you are investors the development appears at present to be very quiet, however, as each month passes we are achieving more rentals and with owners coming to see and holiday in their new homes things are beginning to buzz. So please take time to come to beautiful Thailand and see firsthand your investment, you will not be disappointed at all, in fact all the owners who have been to see their property have been very complimentary, for which we thank you.
News and events.
I am delighted to inform all of our owners that the developers have decided to increase the facilities of Lake Villas enhancing the project even more giving you all the improved recreational and convenient facilities.
The first new facility is the extended club house, we have redesigned the small unit and have added a fitness centre with a number of fitness machines to tone those body muscles which need toning, we all know what that means, blood sweat and tears. But don’t worry you can then undo the good work by crossing to the new indoor and outdoor restaurant with its bar, just relax and take in the sun and views as you slowly eat away at the wonderful Thai food, or if you are a coward European menu. Sip the soft drinks or for those on a serious holiday the cooling beer that refreshes those parts pounded by the fitness room. After an hour of relaxation plunge into the cool pool or just sight in the Jacuzzi and read that long overdue book you have promised yourself to read since last holiday.
The second is the provision of a mini store for those essential bits and pieces for stave the hunger pangs off until you have diner in the new restaurant. It will supply you with all the nick knacks of comfort living, just the ticket so no need to get into the new minivan to do your food and household shopping.
I do hope these new facilities will make your stay or your guests stay in Lake Villas a more memorable experience.
As one or two of you know we have had some teething problems, but I do hope that you will be patient with us we are trying our best to sort the issues out, but this has been complicated by clients not getting in touch with us here  in Thailand, we are the developers and as you all know communications with our selling agents Harlequin in London has not proved to be satisfactory due to their lack of understanding of what has happened and particularly the statements sent out by us here in Thailand. We do care about these issues and we want a happy client and not someone who feels left out, so please let’s hear from you direct.
A few owners have made contact requesting the sale of their properties; I would like to talk about the issues regarding sales and the near future here in Thailand. The subprime mortgage problems of America have impacted on all of us, the local market is static and we are of the opinion that will remain the case for at least 12 months. Investing in property should always be for a period of time as it can only see real appreciation over a five year term. I strongly recommend all owners to view this seriously, stay with your investment and you will all enjoy the fruits of investment. Thailand is likened to Spain in the early 90’s prices are very low because the economic aspects of the country are not mature, but given the attraction of good weather, wonderful people, good health facilities, good infrastructure and cheap living it will only be time before we see house prices increase more in line with the other mature economies of Asia.
Well to you all thank you for making this happen and I look forward to seeing you in time.

Please check with our website for the latest photographs and images – www.lakevillapattaya.com

Emerald Palace Newsletter May 2008
As the sun set over Koh Larn Island on a clear May evening I watched to pouring of the fifth floor cement. The large cement lorries were lined up as a soon as one discharged it contents into the large crane distributing the cement over the floor level another followed, in all there will have been 80 such lorries over the entire evening finishing off at 10 p.m. having started at 4 p.m. The evening was full of shouting and excitement, all eyes directed towards the flow of wet cement onto the new shuttering, the sixth floor columns were being filled with cement and the next stage of the construction is being set in place.
Emerald Palace started from the ground foundations in late November, our progress has been good, we have slipped a little and this will mean delivery of the building to the owners at the end of November rather than September. The main problem being the supply of materials to the site, oil prices have had a big impact on construction costs and the middle men are always trying to obtain new prices for old stock, so delays are inevitable. But the building is coming out of the ground and as you will see from the latest photographs, shown on our website, it’s beginning to look like a condominium at last. I cannot believe the progress we have achieved since the first inception of the main plans.
The weekly planning meetings, held on a Friday morning, are a buzz of activity. The progress being discussed with the contractors and our independent engineers, who oversee the specifications on construction. I am usually at these meetings and although the main language is Thai I have a translation by the boss of the engineers which helps me understand the issues being discussed. It’s very interesting to listen to the technical side of construction and it’s amazing how much planning is required in such a building. Being at the meetings saves everyone time as decisions can be made instantly, problems solves with full discussion and the main points of planning the introduction of contractors on time with the materials to do the work essential to building Emerald and keeping it on track. This building would normally take 18 months to construct; we now look as though we are on track to complete in 13 months. A tribute to the team we have around us.
We have now completed the contracts for the supply of all materials to the development and I can assure you all that I have retained the highest materials for the development, with some pretty stiff opposition from the crew, I want this to be the flag ship of condo developments and as one City Hall Engineer put it to me,” Richard this is the bench mark of the future of construction in Pattaya”. We obtained our building permit in record time and that’s official, all the engineers at City Hall have shown a great interest in our progress, very often coming down to talk to the contractors and examine the building as it progresses.
The show rooms which are on the second floor will be completed in June, we are mocking up a studio and a one bedroom unit. This serves two purposes, it a dummy run for all the suppliers and in turn we can sort out the logistically problems at an early stage, and secondly it gives us an opportunity to be able to display the units in their full splendor. We shall be furnishing both units to complete the units in a living style. We have finally produced a furniture pack which will be attached to this newsletter. So food for thought and you can start to make some decisions regarding your choice. Please do not think this is a take it or leave it process, should you wish to vary the choice by all means let us know. Paul has been working hard at finding a good team of suppliers and they will work with the individual clients to tailor make your unit furniture.
Your contribution has been the very important task of supporting us with your timely installments on your contracts, I am very pleased to be able to tell you that most have been very prompt with the installments and as you all can imagine its essential to all of us that this is maintained.
Within the next few weeks we shall be completing the revenue share pool for all of our investors. The financial recording of income will be achieved via the full hotel accounting software having been purchased for the purposes of full accountability. Our Chief Accountant Mint is running dummy tests on the system now in preparation of installation at Emerald Palace. We shall be recruiting a manager in the next few months, it’s important that the person who is responsible for the entire management of the building come on board at an early stage and to be able to work with the contractors to understand the heart and soul of the building as well as being an administrator responsible for the smooth running of the building.
We do have a number of units still available so if you have friends or family who wish to consider purchasing please let us know. We all understand the economic problems at present and it’s easy to forget about your future investments when times are hard. But please stop and think about this development as a truly sound investment for both own us and retirement investment. Where can you purchase a property of such high standards around the world for as little as 38,000 Sterling?
We will be sending you all a monthly update in the future. One subject which has come to our attention and we await confirmation, is the Thai Government is going to alter the lease period on Condominiums probably this year, this is good news for all of us, it will become a foundation of confident investment in leasehold investments in Thailand, and in my opinion confirm the Thai’s Governments commitment to us overseas investors in their beautiful country.

News Letters & Emerald Palace condo development pattaya

At long last we have complied and sent out news letters to all of our clients at Lake Villas, Phoenix Grove and Emerald Palace. I hope that everyone has got them!

We also finished the furniture packs for Emerald Palace and if any Emerald Palace owners did not get their copy please let us know and we will send the details on.

Over the next couple of days we will publish the news letters here in the blog just in case they were missed or you just want to read them out of interest.

I am very pleased to say that the construction at Emerald Palace is still going on a good pace, the weather is being very kind to us at the moment with no rain so work can continue without any hold ups and we are beginning to make ground on the delays caused a month or so ago by the unseasonable afternoon downpours!

Phoenix Grove development pattaya May Newsletter.

Greetings to you all and I do hope that this first and in the future monthly newsletter will provide our owners with an up to date insight as to the progress at Phoenix Grove.
I would like to talk about the process and progress of planning as this has changed the concept and timing of completion of your project. In early January 2008 we submitted our planning to the Chonburi planning office for consideration with our application for a full building permit. The planners came back to us after some four months of deliberation and some four meeting to request our cooperation in finding a solution to the surface water created by the road system. They suggested that we create two small lakes and find a way of channeling the water into those lakes.
At first we really did not know what to do, but with two full time architects working in the office they both put their heads together and come up with a new scheme which was fairly radical. Please see the attached new layout. But after hours of discussion both internally and with the planners we began to realize that this was a truly great solution. The club house has been moved from the entrance to a much larger area in the lower area of the development, two lakes are now located to the front of the clubhouse, three putting greens have been retained and all agree that the new location of the clubhouse will ensure a more peaceful retreat for owners.
In addition we were not selling the three storey townhouses and as we were getting requests for more condominiums we moved to create a scheme to include them in the new drawings. Phase 1 has 26 condo units and I am happy to tell you all that these have been reserved for an Australian investment group. In addition we are at an advanced stage of negotiation with an investment specialist in England for two other blocks on Stage 2 of the development. There is also a private investor who has purchased the larger units in the two far corners of the development. So I think we did do the right thing as these sales have been achieved over the last four weeks.
Now to explain phase 1, we have decided to meet the December 2008 completion date on this phase which includes 36 linked bungalows and 26 condominiums plus all the infrastructure, the contractors will then move their office and staff accommodation to the lower land an entrance will be made from the side road to our land ensuring that phase 1 will not be disturbed by contractors or movement of materials to phase 2 land.
Phase 2 will be completed by June 2009; we apologies to all the owners on Phase 1 in that we are not going to be able to supply the clubhouse facilities but I am sure that you will all understand the need to complete at least phase 1 on the original delivery date.
I have attached the latest photographs of the project and you will see that the first 5 units are at an advanced stage, and having just confirmed to the contractors the formation of all 31 other units to footings and column stage our progress will be rapid from this point. The condominium block will commence in about 6 weeks time, this is because we need to form the road layouts and levels for all the remaning bungalows. We will send to all of you photographs of progress with our monthly newsletter.
I would like to take this opportunity of thanking most of our clients in keeping up with their installments on the project, as you all understand our progress is supported 100 per cent from our client’s installments. Furniture packs are now being completed so I hope to be able to send you all under separate e-mail photographs and list of furniture.
We still a few units left on Phase 1 so if any of you wish to purchase more or you have friends and family who would be interested in purchasing into the fine investment please let us know.

Our Projects

Am very busy at the moment as all of our projects are either in construction or in the case of Lake Villas being finished off. Lake Villas is looking really good now, we have quite a few residents and are putting the final touches to the furniture in the remaining units. Will have to start thinking about updating the website before long, and at last we have got planning permission to extend and develop the shower room by the pool into a full 2 storey clubhouse with a bar, restaurant and gymnasium. We have just finished the minimart and that will be open in few weeks and the minibus will be ready to operate in the next high season.

The construction at Phoenix Grove is going well, the first phase I am happy to say will be finished in December and the whole project should be done by July 2009.

Emerald Palace is a little bit behind schedule at the moment due to the recent spell of bad weather but we are confident that we can make up the time before the finish date in October.

Emerald Palace is now under construction and is nearing the third floor level. Cited as one of the leaders in interior design with an unusually high specification in building materials makes this development the one the buy. The current price per square meter is well below the major developers prices and with the option of joining in the rental income revenue share this one leads the market. Richard Haughton, Managing Director of developments at TPME, is predicting a capital appreciation within one year of 20 per cent on the project. Other developers are eagerly awaiting the completion of this development as they are looking at ways to improve the attractive package being offered by Headlands Holdings, the project owners.
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Richard has indicated that ownership can be in name on 100 per cent of the building due to his unique formula of lease holding via the Juristic company for a period of 90 years. This will enable all foreign owners the opportunity to hold the property in their own name.  www.emerald-palace.com
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You may contact Richard at TPME on 00 66 38 300 271 or e-mail him on richard@pattaya-property.org