Thailand Pattaya Real Estate set for boost with new Utapo Rayong international airport opening 30 minutes from Pattaya city, Are property prices set to boom ?
Thailand Pattaya what does this news mean to Tourism and Real Estate Prices in the Pattaya area, Many people who work on Thailand's eastern seaboard in many of the industrial areas area applauding the new airport, Especially those people working in the Tourist Hot spots of Pattaya and Jomtien. In my humble opinion and after living and working in the property industry in Thailand for nearly 24 years i feel this news is some of the best for the Pattaya property market and can only mean prices for buying houses, buying condominiums or even buying land are definitely set to increase.
Real Estate Specialists Thailand (https://realestatespecialiststhailand.com/) with over 24 years experience has seen many up sand downs in the Thailand property market and the Thailand economy, there is some thing very unique about the Thailand economy in that it always seems to bounce back to any down turn very quickly,
The Thailand property market is no different has always and will always i am sure bounce back to any down turns very quickly, the news that new International airport is now open,
The news that the high speed rail link from Thailand's capital city Bangkok to Rayong with stops planned for Pattaya and Bangsaray has been give government approval and is now under tender for the construction is another major boost for Pattaya and again another good reason to buy property or invest in the property market in Pattaya, Live on the beautiful Pattaya coast line with the fresh air and little if any air pollution yet be able to commute to Bangkok on a daily basis for work.
I think there are happy times ahead for Pattaya tourism and the Real Estate market.
Investors thinking of investing in Thailands Eastern Seaboard or the property market in the Pattaya region remember the old expression
THE EARLY BIRD GETS THE WORM
For a quick example Land prices in the Huay Yai region of Pattaya four years ago, to buy land would have cost around 1 million Thai Baht per Rai (1600 sq meters)
Today you are lucky if you can find 1 Rai of land for 4 millon Thai Baht .
I hope you enjoy and find the article below by Chartrudee Theparet from the Bangkok post Business a interesting and informative read.
The Eastern Economic Corridor (EEC) meeting on Monday chaired by Prime Minister Prayut Chan-o-cha mandated to develop the first phase of the aerotropolis within five years to support a linkage with the high-speed rail connecting three airports - Don Mueang, Suvarnabhumi and U-tapao.
Adm Sophon Wattanamongkol, president of the Royal Thai Navy's advisory group, said the ToR is slated for auction via PPP this October, with the winners expected to be announced by January 2019.
The first phase of the 6,500 rai U-tapao airport and aviation centre will be capable of handling 15 million passengers in five years. Other projects include a second runway, business zone, maintenance repair overhaul (MRO), and air cargo.
The MRO, which is a joint venture between Thai Airways International Plc and AIrbus, is expected to be settled when Gen Prayut visits France on June 25.
Investors from China, Japan, Europe and the US have shown interest in investing in this aerotropolis project.
Earlier, Industry Minister Uttama Savanayana said five giant bidders were expected to join the upcoming auction of the 224.54-billion-baht high-speed railway linking the three airports.
He declined to disclose the company's names, saying only the project has been in the crosshairs of several local and foreign investors.
These are likely to include BSR Joint Venture, a consortium of BTS Group Holdings Plc (75%), Sino-Thai Engineering and Construction Plc (15%) and Ratchaburi Electricity Generating Holding Plc (10%).
PTT Group and Chaoren Pokphand Group have also expressed their intention to join the auction and seek investment partners, along with firms from Japan and China.
The 2018 EEC Act allows foreign investors to own up to 51% stake, compared with general investment law capping foreign-owned share at 49%.
AirAsia has informed the government of its intention to invest in the MRO at U-tapao aerotropolis, with a total investment worth US$150 million (4.8 billion baht).
AirAsia's MRO will also offer its service to other airlines, and the investment is expected to attract around 10-20 companies to streamline their investments into Thailand.
The company will also look for investors in a low-cost terminal at the U-tapao airport. The investment sum is projected at 1.5 billion baht, while construction is expected to take between 12-18 months.
Kanit Sangsubhan, secretary-general of the EEC office, said the EEC committee yesterday agreed, the government may need to build a medium scale terminal at U-tapao airport, which can be completed within one year, because of higher arrivals at the airport.
The first terminal can handle 3 million passengers, while the arrivals at the terminal are projected to reach 2 million by this year.
Mr. Kanit said the committee has also authorised related public agencies to plan for the third phase of the U-tapao aerotropolis development plan.
The third phase involves increasing capacity to 15 passengers over the next five years, 30 million in the next 10 years, and 60 million within 15 years.
The EEC committee has also authorised the EEC office to conduct a study for the development of surrounding areas some 10 kilometres from U-tapao airport in order to prevent environmental problems.
"The government needs to prepare ahead with town planning and specific zoning for the aviation industry," said Mr. Kanit.
Industry minister Uttama Savanayana said the government plans to conduct international roadshows following the EEC Act's enforcement, with the first roadshows scheduled in Britain and France this June and others taking place in South Korea, Japan, and China.
by Chartrudee Theparet from the Bangkok post Business
Any comments to this article or interactive comments are welcome if you are ever in the Pattaya or Jomtien area feel free to look us up at Real Estate Specialists Thailand Real Estate advisers https://realestatespecialiststhailand.com/ [email protected]
Thai Mobile +66 (0) 899333583 Line id 01barry30 Skype barry.rest