KINGDOM Property has sold The Suites Tower, part of its Southpoint Pattaya twin tower project, to a local Thai investor for development into internationally managed serviced residences.
The purchase of the 224-unit building represents about 30 per cent of Southpoint Pattaya’s saleable area, which generated strong buyer interest following its Environmental Impact Assessment approval in November last year.
Southpoint Pattaya is located close to Bali Hai in Pattaya City on an elevated site on Pratumnak Hill, within walking distance of the Royal Varuna Yacht Club. Valued at 2.5 billion baht (US$85.3 million), the development is slated for completion in 2015.
Unit sizes at the condominium range from 30m2 for studios, 41-87m2 for one-bedroom units and 61-97m2 for two-bedroom apartments. It includes a dedicated sky deck in each tower, an infinity edge lap pool, a fitness centre and a landscaped family zone featuring a children’s pool and playground.
Pattaya saw over eight million hotel guests in 2012, according to a release by Kingdom Property.
