Thailand listed property developer Pace Development Corporation plans to complete what will be Asia’s largest clearwater lagoon in December this year.
The 45-rai, THB600 million (S$23.1 million) lagoon is located inside the 120-rai MahaSamutr ultra-luxury villa and country club resort (pictured) being developed in the Gulf of Thailand resort of Hua Hin.
Sorapoj Techakraisri, Chief Executive Officer of Pace Development, said: “This lagoon will become an iconic landmark for Hua Hin. It is the first time that this cutting-edge clearwater technology is being introduced to Asia, and it will be a sensation. The lagoon’s water is always crystal clear as it is constantly monitored and maintained through telemetry to ensure the ‘paradise beach’ feel of turquoise waters edged with fine white sand and trees.”
He added that the Hua Hin property market was very robust for villas because the supply of the highest quality villas was limited while demand was increasing due to a rapidly growing number of the urban wealthy seeking private villas and private gardens in the resort.
The approach of the ASEAN Economic Community had also had a positive effect on demand for villas, he noted.
Pace is targeting overseas buyers for around 25 percent of MahaSamutr’s 81 villas. They range in size from 550 to 600 sqm, with prices starting at THB40 million (S$1.54 million).
MahaSamutr is expected to be completed by the last quarter of 2015. Show villas will be ready for viewing in Bangkok in November this year.
Andrew Batt, International Group Editor of PropertyGuru Group, wrote this story. To contact him about this or other stories email andrew@propertyguru.com.sg
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