Million dollar Pace MahaSamutr lagoon development coming to Hua Hin

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Million dollar Pace MahaSamutr lagoon development coming to Hua Hin

Post by buksida » Tue Jun 25, 2013 8:52 am

Pace Development Corporation targets a net profit next year after it introduces its first villa project, MahaSamutr, worth Bt3.8 billion, in Hua Hin in the final quarter of this year.

Chief executive officer Sorapoj Techakraisri said yesterday that Bt2.7 billion of the development budget would be for 90 villas on the 120-rai (19-hectare) site, Bt500 million for a country club and Bt600 million for a large lagoon, which the company expects will become a new landmark of Hua Hin.

Half of the budget will be borrowed from a bank, which is now in the negotiating process, and half from capital to be raised on the stock market.

About 80 per cent of its target customers will be domestic buyers wanting a second home and the rest foreigners looking for a vacation home in Hua Hin.

The schedule is for bookings to open on October and the grand opening to be held in April of next year.

Construction will commence early next year and be completed by year-end. This will be the main source of its revenue and net income next year.

Source: The Nation

Where would you invest one million dollars?

Bangkokians' favourite weekend retreat just became even more attractive. Pace Development last week launched MahaSamutr in Hua Hin, a luxurious THB2.7 billion (US$86.7 million) project of approximately 90 detached houses set around a 45 rai man-made lagoon and with a swanky beach club and country club to boot.

With the asking price starting at THB35 million, Pace expects to sell 80 percent of the units to Bangkok Thais and the rest to a handful of expats – a testament to the vast amounts of wealth to be found in Bangkok. But it’s not just Bangkokians who are reeling it in.

Source: Property Report
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Re: Million dollar Pace property development targets Bangkok

Post by zeitgeist » Tue Jun 25, 2013 10:20 am

Anyone know exactly where this will be? I saw the advert in the Bangkok Post and the address was Nong Khae, so I assume its in Takiab.

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Re: Million dollar Pace property development targets Bangkok

Post by Bristolian » Tue Jun 25, 2013 10:44 am

zeitgeist wrote:Anyone know exactly where this will be? I saw the advert in the Bangkok Post and the address was Nong Khae, so I assume its in Takiab.
The map location shows it on soi 112
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Re: Million dollar Pace property development targets Bangkok

Post by zeitgeist » Tue Jun 25, 2013 11:03 am

All the talk about beach-club, I didn't think about a man-made beach.
The map shows it on the road off soi 112, as if to go to the Banyan, will have a nosey later today.

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Re: Million dollar Pace property development targets Bangkok

Post by Bristolian » Tue Jun 25, 2013 11:08 am

The artist impression looks good but that is one big lake. Maybe it could be used as a reservoir :D
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Re: Million dollar Pace property development targets Bangkok

Post by fft100 » Fri Jul 12, 2013 8:01 pm

a 45 rai lake is huge. That is 72000 sq.m which is 400m long and 180m wide. If the average depth is 4m that would be 288,000,000 litres.... a lot of water trucks to fill that !

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Re: Million dollar Pace property development targets Bangkok

Post by Takiap » Sat Jul 13, 2013 7:16 am

fft100 wrote:a 45 rai lake is huge. That is 72000 sq.m which is 400m long and 180m wide. If the average depth is 4m that would be 288,000,000 litres.... a lot of water trucks to fill that !

Not at all. But you will see more trucks delivering water to other homes in Hua-Hin. In fact, considering how much water I already have to buy during the dry season, I might ask if they can change our small soi into a dual carriageway to accommodate the increase in water truck traffic. :twisted:


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Re: Million dollar Pace property development targets Bangkok

Post by fft100 » Sat Jul 13, 2013 9:52 am

"not at all" ??

The average water truck in HH carries 6,000 or 7,000 litres. So, 288,000,000 litres would require over 40,000 deliveries. Assuming they can handle 8 trucks simultaneously, and it takes 30 minutes to manoeuvre/unload on site, and they can do 10 hour days that is 160 unloads a day, so over 250 days to fill it !

I wonder how they are going to do this in the driest town in Thailand....

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Re: Million dollar Pace property development targets Bangkok

Post by Takiap » Sat Jul 13, 2013 7:19 pm

Simply by diverting the necessary amount of water to the site while the rest of us sit high and dry. As it is we can be without water for weeks at a time during the dry season, but even now in the rainy season our water only comes on quite late at night, and on weekends when Bangkok moves here, we quite often get no water despite all the rain.


On a slightly different note, I can't imagine why any expat would be willing to pay a million dollars for a property they can never really own. Yes you can set up a company and so on, but unless it is a "real" functioning business with genuine Thai partners, it could be taken away from you tomorrow.

Each to his own I guess, but if I wanted to invest a million dollars in a property, I would do so in a country where I can legally own the property, even if I had no intention of ever actually living there. Added to that is the fact that I've never been attracted to such places of luxury. A nice little cottage out in the sticks is just so much more appealing to.

Nonetheless, good luck to the developers. My guess is it's going to sell out very quickly.



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Re: Million dollar Pace property development targets Bangkok

Post by sandemb » Sat Jul 13, 2013 7:45 pm

I've got to agree Takiap. I can buy a mansion for $1,000,000 in HH that would cost $5 mill anywhere else.I need bedroom for self and wife + 2 for visitors. Cleaner and gardener once a week and be happy as pig in :butt:
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Reword this - 2 extra bedrooms for visitors -- not sharing! :neener:
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Re: Million dollar Pace property development targets Bangkok

Post by hhfarang » Sat Jul 13, 2013 11:00 pm

I've got to agree Takiap. I can buy a mansion for $1,000,000 in HH that would cost $5 mill anywhere else.
Not true, I've been doing a lot of research on that very topic for the last several months and the same square meter home in a nice neighborhood in most cities in the U.S. costs less than in Hua Hin, plus it is better build quality from my experience than with the builders/craftsmen here. Of course that's not in California or New York but in most cities and towns in most states you can get a very nice 250 sq mt 4 bedroom home for $150 to $200k or about 5 to 6m baht... way better than Hua Hin for the same price, unless you want to live way out in the pineapple fields. :|
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Re: Million dollar Pace property development targets Bangkok

Post by Takiap » Sat Jul 13, 2013 11:31 pm

That was actually the point I was trying to make. For a million dollars I could buy a house in South Africa for much less than it would cost here, and the build quality would appear to be from a different planet if/when compared to the build quality in Thailand. Fair enough, you might get more square meters here, but it's not always about size. Added to that is the fact that you can own the property. Unfortunately, at least for me, there are other aspects of Thailand which make it a better place for me to live, the main one being all the craziness. :laugh:


I honestly don't think Thailand is great value for your money anymore as far as property is concerned. I know you can still buy cheap land here, but in the cities and etc it's certainly a different matter these days. Also, one needs to remember that a large percentage of the homes here are hidden beneath fancy trimmings.

Nonetheless, I am still enjoying every day. :laugh: :cheers:
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Re: Million dollar Pace property development targets Bangkok

Post by pharvey » Sun Jul 14, 2013 3:21 am

"You've got to get your first tackle in early, even if it's late". Ray Gravell :wink:

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Re: Million dollar Pace property development targets Bangkok

Post by PET » Mon Jul 15, 2013 6:29 pm

hhfarang wrote:
I've got to agree Takiap. I can buy a mansion for $1,000,000 in HH that would cost $5 mill anywhere else.
Not true, I've been doing a lot of research on that very topic for the last several months and the same square meter home in a nice neighborhood in most cities in the U.S. costs less than in Hua Hin, plus it is better build quality from my experience than with the builders/craftsmen here. Of course that's not in California or New York but in most cities and towns in most states you can get a very nice 250 sq mt 4 bedroom home for $150 to $200k or about 5 to 6m baht... way better than Hua Hin for the same price, unless you want to live way out in the pineapple fields. :|

Yes, but are not those in USA timber framed ?
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Re: Million dollar Pace property development targets Bangkok

Post by zeitgeist » Mon Jul 15, 2013 7:11 pm

Pace Developments seem to be targeting Middle Eastern customers as the 20% of foreign purchasers.

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