Art on the Hill condo debacle in Pattaya

[Mav]

I received an email from Matrix 2 days ago offering the last unit available !   

 

Art on the Hill 'READY TO MOVE IN'

 

'The LAST' Studio Unit AVAILABLE
8th floor, fully furnished, 22sqm. ONLY 1,100,000THB

 

 

................Pass

[asmodeus]

Seems like the 'pattaya condo spy' Facebook page has been taken down. They had several negative mentions of matrix.

 

 

 

 

 

Sent from my Nexus 4 using Tapatalk

[Phil1975]

Yes it's down. They only posted facts. If it made any one developer look bad that's because they ARE very clearly bad! I'd love to know why it was taken down, why would FB care about complaints from butt hurt shitty developers in Thailand??

[Mav]

WoW     interesting development.....hope he (or she) can find another outlet to post reports !

[supergeil]

[…] the longer they delay, the more money they pocket from the high electric rate, as well as that tax advantage, which I don't understand.

 

I think the tax advantage is a misunderstanding related to the special business tax (3.3%).

 

The seller can be exempt from this tax if they have owned the property for more than five years, but only if they are an individual and have used the property as their residential home, so Matrix would have to be rather creative to fulfil these requirements.

 

[sagitarius123]

I do like this topic.

 

I've bought a unit off plan in another Matrix development ( City Centre Residence ).

It's due for completion Q4 2015...I guess that is unlikely, as with most developments....I realistically think around May 2016.

Matrix will not be able to say AOTH was a one off if this goes pear shaped.

[supergeil]

I've bought a unit off plan in another Matrix development ( City Centre Residence ).

It's due for completion Q4 2015...I guess that is unlikely, as with most developments....I realistically think around May 2016.

Matrix will not be able to say AOTH was a one off if this goes pear shaped.

 

It sounds like this Raz guy has not exactly been helpful for the reputation of Matrix. If I had any dealings with Matrix, I would try to convince upper management that this guy needs to be removed from his current role, as he has made a bad situation worse.

 

Regarding having gotten two of the three documents signed, I think a previous post mentioned getting a copy of the first two, which was EIA and probably O1. These are required before you can start construction, so it’s misleading to claim signature on the first two as any indication of being close to getting final approval (O6).

[khawmak]

I do like this topic.

 

I've bought a unit off plan in another Matrix development ( City Centre Residence ).

It's due for completion Q4 2015...I guess that is unlikely, as with most developments....I realistically think around May 2016.

Matrix will not be able to say AOTH was a one off if this goes pear shaped.

Please keep us updated on how the City Centre project comes along and the issues that arise.

[Phil1975]

CCI is just the next cluster fuck in the Matrix line of cluster fucks. AOTH > VISION > CCI...etc

[RabbitRun]

Anything new happening?

 

Sagitarius123 "Matrix will not be able to say AOTH was a one off if this goes pear shaped."

 

Matrix's Amazon Residence was due to be completed in July 2014. Take a look at their latest construction update. Won't be surprised if they are 2 years late on this one, too. You should be thinking "years", not "months" of delays, Sagitarius.

[supergeil]

On Matrix site it says Central City Residence will be completed in 2015.

 

Has anyone been by the construction site recently to see how realistic it is to complete it this year?

 

And anyone been given a more exact date? I do seem to recall reading March or May 2015 as completion date.

[Phil1975]

I drive past it 4 days a week. I am 100% certain it won't be finished this year. I would not be surprised if it does not get finished next year even...

[banksy35]

Mid to End of 2016 for City Center, heres a link to the builders site https://www.facebook.com/skylinethai

[Phil1975]

CCI had a delay due to a dispute with the adjacent hotel {LK} which supposedly has now been sorted so construction is going again. I hope these contractors are better than the previous outfit of cunts who built AOTH. They can't really be much worse. Of course if they are saying end of 2016 you can be sure to add time to this going on all of Matrix previous contracts. Also I would tend to believe NOTHING coming via the Matrix outlets bar effluent....

[sagitarius123]

The construction pictures at CCR show all 3 buildings completed to top level.

The contract states end Q4 2015. So I guess that we can get a refund if not ready by 1 July 2016

[Phil1975]

They will cite force majure due to political problems just as they have done with the Vision for being massively late

[RabbitRun]

They will cite force majure due to political problems just as they have done with the Vision for being massively late

Even invoking Force Majure, Thai law allows only 180 days of delay past the stated contract date before a buyer can declare the contract in breach and demand a return of all monies plus interest.

[sagitarius123]

Ouch!

[RabbitRun]

The construction pictures at CCR show all 3 buildings completed to top level.

The contract states end Q4 2015. So I guess that we can get a refund if not ready by 1 July 2016

The construction pictures at CCR show all 3 buildings completed to top level.

The contract states end Q4 2015. So I guess that we can get a refund if not ready by 1 July 2016

That's true, as long as you DO NOT accept any compensation from Matrix in mitigation of the inevitable delays by them. If you do, the papers they'll have you sign will have you give up all claims for a full refund. Just ask the AOTH buyers, it's one of Matrix's favorite ploys to keep (most) of your money.

[RabbitRun]

Sagitarius, btw, Matrix and Heights Holdings both use similar payment schedules for their projects, designed to get your money based on set periods of months from contract signing. They'll have 100% of the agreed sales price for your unit looooong before the project is ever completed. So what's their incentive to be concerned with finishing their projects?

[sagitarius123]

Thanks RabbitRun.

The final payment is due on key handover, but for sure they are already in profit by then.

[jerry]

... So I guess that we can get a refund if not ready by 1 July 2016

 

Thailand and refund don't go well together ... lol . 

[RabbitRun]

Thanks RabbitRun.

The final payment is due on key handover, but for sure they are already in profit by then.

Yes, after i posted i realized i overstated it. It's been months since AOTH buyers got their keys, but no chanotes yet. Correct me if i am wrong, but the key payment is like the last 10%?

[sagitarius123]

It's 20% in my case.

But I don't want the key before all the occupancy certs are in place, and verified by my lawyer

[Phil1975]

 

Today woke up to more noise and a crane. Today Matrix are removing the fire escape from the Atrium it's being removed in one go via the crane. Well done for once Matrix!

 

I wish they would tell us these things!!!! But good news all the same.