Condo projects totalling Bt10 bn planned for Hua Hin

[Name Taken]

The first stage of energy all sold out, I don't get it. There are in HH a couple of projects, one a dual tower condo on the beach, all sold we are told to bkk Thais. Never any sign of residents, few lights on at night, no cars in the huge parking lots. So is energy the same, a ghost town to house laundered money.
On the other hand, that could be the good news, who wants to see 6000 cars driving down on Friday night.

Serious Question: What is the money being laundered from? Drugs?

[Dannie Boy]

Although I can't find any reference to it, I understand that the Shinawatra family are heavily involved in the financing of this project - that could explain many things!!

[oakdale160]

Explains why I will not comment any further, wonderful project.

[Matlot]

There still selling stage 1 condos on the forecourt at market village this week.

[SunandFun]

It is stage 2 that is sold out. This is closest to the sea. It is also not even started. There are 5000 units in Ph. 1 and 500 in Ph. 2. That is from the sales office personal.

[StevePIraq]

Much like Spain and some other countries who had huge new property booms and then a crash, in my opinion it is coming to Thailand it may be next year or may be in 5 years. Some purchasers make a profit many end up selling for a loss. In Thailand there is no used property market so anyone buying on the premise of reselling and making a huge profit are in for a shock

Like other countries there are most likely huge tax breaks for developing property so it will be the developer who profits and like others have said if you have dirty money this is an easy way to launder it.

Developments all over HH, Pattaya, Jomtien, Phuket stand empty and slowly become an eyesore

Similar topic is at the following link
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