Buritara Plans THB 1 Billion Investments in Chonburi
Anticipating a surge of tourists and expatriate residents following the ASEAN Economic Community integration next year, the Buritara Group plans to spend over THB 1 billion on three new resort and condominium developments in Chonburi this year.
As reported by the Pattaya Mail, the group’s expansion plans include the THB 300 million Buritara Town Resort Jomtien, a retro-style modern hotel; Buritara Royal Grand Hill Villas in Jomtien Beach, a group of nine homes priced at 40 million baht each, located on Sukhumvit Road; and Buritara Chateau Resort Condo in Bangsaen, a THB 400 million project located in Muang Saensukh, next to Burapha University and 200 metres from Bangsaen beach. For the latter, which was the first of the three projects to be launched, prices start at THB 2.9 million and about 40 per cent of the units have been sold.
The above three projects follow on the heels of the company’s 514-room Buritara Resort Condo development in Jomtien Beach. Aimed primarily at investors, the condominium offers management services that secure renters for unit owners, guaranteeing a five per cent annual return.
Buritara plans to set aside an additional THB 1 billion in 2015 to develop more condominium projects, including joint ventures, in Chiang Mai, Phuket, Myanmar and Laos.