10% rental guarantee per annum in the period from 5 to 20 years.
14 years on the Pattaya real estate market has brought the New Nordic development the repupation of a reliable partner. Why the New Nordic condominiums are kept in bristol fashion with the occupancy rate around 100%. And the owners always get their guaranteed return.
New Nordic is a large company. What do the figures say?
At present 300 people are employed in New Nordic - not to count those in the construction department. We have 36 finished projects and 14 at different stages of construction and sale. Three building companies are working for us.
How do you manage to have control over construction, sell, keep the finished projects in order, and pay out the return to investors?
Our company consists of three parts. The first one deals with the construction: we built and sell; the second one is the service department: we manage all of our buildings and perform maintenance; the third — the hotel part — lets us fill up the accommodation capacity at our disposal effectively to pay out the investors the guaranteed return of 10% per annum.
Why act as a service company if you can delegate your responsibility in each building?
Unfortunately, there are no professional service companies in the market. This is why many buildings from 5 to 10 year old in the city look 'tired'. As a service company with our own staff we are able to redistribute resources within our group.
How do you manage to achieve a high occupancy rate?
The third — hotel — department of the company deals with this issue. We have specialists mainly from Europe with from 10 to 25 years of experience in tourism and hotel sectors. We are the owner of the Norwegian tour company 'Asia Specialist' and we have multiyear agreements with tour operators from Russia, South Korea and China. For instance, just recently a Chinese tour operator bought 18600 nights at a time from New Nordic. There is no problem with an occupancy rate — neither now nor in the future.
Can New Nordic provide comfortable living for those who buy apartments for their ovm use and not for getting the guaranteed return?
In the buildings allotted to tourists there are no permanent residents. The buildings sold to private owners are used as the reserve fund: it means there may be only 5 or 6 rooms for rent. People never have the impression of living in a hotel.
New Nordic updates
Stage: Selection of the land plot (three plots are considered)
Featuring: The first island development with further plans for extension; the beachfront location, direct beach access; guaranteed return for investors.
Pricing policy: A more expensive development than Pattaya projects because of the higher land price and shorter tourist season.
Sales: Buyers are expressing a high interest; investors are ready to purchase even before the construction starts New Nordic is confident that the first building will be sold out within one month from the start of the sales.
Land plot: 5-6 rai, 8 000-9 500 sq.m. (Pratamnak)
Total number of rooms: 600+
Positioning: The most pompous and luxurious project in Thailand.
Featuring: The interiors inspired by royai palaces in Saint Petersburg and the Kremlin; equipment and engineering performed by the companies with the work experience in Las Vegas casinos and entertainment parks.