Centric Sea Pattaya launched by SC Asset
Thailand Developer SC Asset will be launched its new poject Centric Sea Pattaya in 15 June 2013. This will be the biggest property event in Pattaya in 2013.
Centric Sea Pattaya is a 40-storey high-rise by developer SC Asset. The Centric brand usually covers the mid to upper-mid segment. SC Asset’s luxury brand The Crest Sukhumvit 34 has prices from 5.9 – 20 MB and people expect prices at Centric Sea to be considerably lower.
At the moment Pattaya is simply too small for large scale luxury development projects so it is wise focus on the mid segment. A luxury development is a Grade A development and despite the fact that we practically don’t have Grade A developments in Pattaya many developers refer to their projects as belonging to the luxury category. A development with prices starting at 2.6 MB is at best a Grade C development and there is no escaping that fact. Grade C may be very nice but it is far from luxury.
SC Asset will soon launch Centric Sea Pattaya valued at 2.5 Billion Baht. The 40-storey high-rise on Second Road is situated right next to Grand Sole hotel. The company behind this high-rise condominium is Thaksin Shinawatra’s property firm SC Asset Corp.
SC Asset is listed on the Stock Exchange of Thailand and it is one of the bigger Bangkok players in the property market in Bangkok. It is no secret that SC Asset is a giant company with a huge portfolio of property projects, but when you choose to launch a project like The Crest Sukhumvit 34 in a foreign country like Singapore and during that launch sell 52 units, then you are one of the really big players. The Crest Sukhumvit 34 was launched june 2012 and it is a 28-storey high-rise comprising 265 units.
And now, please prepare yourself for the War of the Giants – a property war between two Bangkok based companies: Sansiri and SC Asset. Don’t worry, there will be room for both of them in Pattaya as they do have very deep pockets and are prepared to pay whatever it takes to be successful. But they will be having local developers for breakfast.
Both Sansiri and SC Asset has built a good reputation over the years and that is invaluable in this business, that is something money can’t buy. In other words, they are thai companies with deeply rooted connections to the thai middle and upper classes. Please note that traditionally 99% of Sansiri’s buyers are thai.
The sales room is almost completed so it will not be long before we will get a name for this project and some more details.