The New Nordic Group has been a familiar player on the Pattaya real estate scene for over a decade, with many projects focused around the Pratamnak Hill location. The New Nordic Group is now taking a change of direction and strategies to diversify its advertising method by targeting even more Thai buyers.
At the end of last month, Group Chief Executive Officer Kurt Svendhiem and general supervisor Namfon Wongsuwan announced the development of a subsidiary business, New Nordic Living Thailand, which will market the business's existing and future jobs solely to Thai investors.
"In the past our projects have actually done very well with our European customers, specifically the Scandinavians," stated Mr. Svendhiem. "Thai purchasers however amount to only 5-10 % of our business, which is quite reduced, and we have for that reason decided to present brand-new investment alternatives for our Thai clients.".
The existing 23 Nordic projects cover a location of approx 28 rai between Pattaya city and Jomtien and provide investors a varied selection of lodgings, whether it be vacation homes, hotels and resorts, serviced-apartments or condominiums, from studios as much as spacious 3-bedroom systems.
"We are focused on pattaya real-estate in the Khao Pratamnak area just as we want to be certain that we can thoroughly manage all the jobs, starting from construction and ensuring that we preserve the greatest standards for all our developments. This would be difficult to achieve if our tasks were spread more satisfactorily around the city and close-by areas," added Mr. Svendhiem.
In addition to its plans to target Thai customers, New Nordic likewise announced what it believes to be a new requirement for the real estate industry by presenting condo purchasers with a promise of a 10 % guarantee on rental income for as long as 10 years after the task has been finished, this in addition to a 3 % money back to those who have paid in full before and throughout the job building of any of New Nordic's tasks.
The company has so far invested a total amount of 12 billion baht in the Thai pattaya realty market over the past 13 years and expects to have up to 50 finished jobs in its profile by 2015.