Kobi Elbaz, CEO of the Pattaya Property Developer Tulip Group, is a highly respected and well known business man in Pattaya and as the high season approaches we took the opportunity to speak to him about his company’s current property portfolio and his opinion of Pattaya Property developing in the future.
See also: Pattaya Property Developer Tulip GroupAnnounced its 2012 Sales Performance
Q: You and your project partner Rony Fineman have just been presented with the Best Development award for The Cliff at the Thailand Property Awards, it’s a project that was started a few years ago, but it’s obviously one that you are very proud of?
A: Yes definitely, when Rony and I bought the land in Pratumnak with the aim of creating a high rise building, people were very surprised as they thought the area was very weak and that it was populated with low-rise buildings.
Tulip Group’s CEO shares his views on the Pattaya real estate scene and talks about success with the award-winning The Cliff condominium in his partner project with Nova Group.
But we found it was the right time to launch it; we designed it in three or four months and we decided to launch it during the economic crisis, it was a time when everybody stopped building, even my projects’ stopped including Centara Grand. And apparently we satisfied a niche that was not previously available. I remember that in the first week, we sold one hundred units because the demand for this type of project was very high and then it became a huge success.
After this many other companies realized the potential of this area and this has in turn changed the skyline of Phratumnak.
Q: The Cliff was also one of the first projects to offer much more in the way of communal areas and gardens?
A: That’s right, we have four and a half rai of land for the Cliff; at one point we considered having two buildings to maximize the land, but then we decided to make it more like a five star hotel environment, not just another condo.
I feel we deserved to win the property award as the Cliff has a magnificent swimming pool, a waterfall and massive landscape, I believe it will be a very fun place to live in and during the construction we improved a lot to satisfy the demand.
I would say that for me and Rony the real winner here is not us, but rather the buyer, because they trust us and they know we will complete it and I am very proud.
Q: So you see the accolade as a form of stamp of approval from the Thailand Property Awards, which then in fact rewards those who have invested?
A: Yes absolutely
Q: I would imagine this in turn helps to build on your pedigree?
A: For me I have a different perspective, people have their own ideas about what it the right thing for them, this project is massive with four hundred and twenty eight units with blue and white exterior with blue glass, and as the owner it was our decision to go with this design, but of course that may not be to everybody’s taste.
I can tell you we were very happy with the rapid pace of sales and it seems we satisfied what people wanted at that time.
Q: When will The Cliff be completed?
A: Now we are testing the swimming pool, finishing off the landscape, we invested six million baht of our own money to hide all the cables underground and we will be ready to transfer by the end of the year (2012).
Q: How do you feel when you see many of your competitors emulating what you started with the Cliff?
A: I take it as a very big compliment to me and to Rony. To be fair to the other developers, they may have used some of our ideas, however I see that everybody is now using better materials, better designs and this is all about competition. With every project that is built – the next one will be better.