Art on the Hill condo debacle in Pattaya

[david555]

 

When she bought it she got probably something like 1 baht for 1 ruble.

 

Do your maths....

 

On condition she paid all complete already .... as no chanot is delivered  .(?)....

[supergeil]

ATH, dumping prices starting ..?? 880 000 foreign name

 

Still 40,000 baht/sq.m. which (in my humble opinion) isn’t cheap for this build quality.

 

And it’s 22 sq.m.: A standard king size bed will take up ~20% of the entire area, and that’s excluding night stands.

[Larssonn]

 

Still 40,000 baht/sq.m. which (in my humble opinion) isn’t cheap for this build quality.

 

And it’s 22 sq.m.: A standard king size bed will take up ~20% of the entire area, and that’s excluding night stands.

agree completely , alot of better options available both in size and price per sqm .

[david555]

 

Still 40,000 baht/sq.m. which (in my humble opinion) isn’t cheap for this build quality.

 

And it’s 22 sq.m.: A standard king size bed will take up ~20% of the entire area, and that’s excluding night stands.

comparing to  the older prices they are dumping , and I  never claimed they are quality condos ......as whole this ATH tread is a continuous complaining in most cases about it... 

I am not defending this price or condo ....!

Could never buy or stay in little claustrophobia condo ...., bottom choice for me is 40/45 m2.

[banksy35]

Nice, 7th floor. Anybody know what unit that is? If its next to mine I'll buy it and knock out the wall

 

Sent fra min E6853 via Tapatalk

This looks to be a studio facing the road.  Its smaller than other studios that have porches. 

[banksy35]

CCR running late too.

 

Was considering picking up a resale on this project, I was following it on the developers main facebook page, there were a lot of complaints recently by customers about the delay and the look of the ships and pool not matching the cgi photos.  The developer has deleted this page now since the customers started complaining, classy.

[ant]

Was considering picking up a resale on this project, I was following it on the developers main facebook page, there were a lot of complaints recently by customers about the delay and the look of the ships and pool not matching the cgi photos.  The developer has deleted this page now since the customers started complaining, classy.

Someone on here trying to get out

[RabbitRun]

Banksy35, I'm a bit delinquent in not posting here few the last few weeks, been busy looking for and purchasing items to upgrade my GCR condo when I move in. Yes, as I mentioned to a poster in private messages elsewhere, GCR is a little over one year late in scheduled completion (July-August '16 my guess) compared to the original schedule of 2nd qtr '15 set back at groundbreaking/EIA approval in 2012. It is very frustrating for me and I know other buyers have expressed their feelings to Blue Sky senior management (who listened in person and were sympathetic and responsive, unlike some developers I've heard of).

.

As to the Facebook page, I just went there and it's up and running as it always has been in every instance when I checked it. There are two comments on it as of today, one is two hours old as I type this, asking for an update. I took your post as implying they closed the page, am I wrong?

.

Regarding the central pool area, I've heard no complaints at all about this and personally I'm very happy with the high quality of the materials, construction, and workmanship. I really don't understand your assertion that the area doesn't match the CGI images as the reality conforms to and even exceeds my expectations. A caveat ... There is ONE instance where I agree there is a discrepancy and this is it: the Cave grotto in the CGI appears to have higher ceiling and a wider walking area than the actual build, which is not yet complete on the interior. Here is the CGI and a construction pic:

[RabbitRun]

While I'm here, I suppose I should mention that I've been told (in person) by GCR staff that title transfers have begun in the shorter buildings but move in will not happen until all buildings are complete. Here's the original area CGI and three pics that I took last month. To me, the reality conforms well to the CGI representation, but some who wish to find fault, for whatever reason, will do so.

[RabbitRun]

By the way, would anyone like to post a recent photo of the AOTH pool area? Is it completed, i.e. have the bare concrete areas been covered with artificial grass yet?

[whooshbang]

I have all but given up on AOTH. They simply are not contacting me about anything. No chanote is my main concern. They haven't even asked me for my annual management fee they are that slack..... i doubt very much they have done much more to the pool area. fucking waste of time! 

[ant]

I have all but given up on AOTH. They simply are not contacting me about anything. No chanote is my main concern. They haven't even asked me for my annual management fee they are that slack..... i doubt very much they have done much more to the pool area. fucking waste of time!

Your small fry to them.

Right now they are more interested in getting all the final payments from gcr buyers

[Evilfriar]

@RabbitRun, I think Banksy  is talking about CCR by Matrix, not GCR.

 

Good photo's btw, glad for you that the project is nearing completion. Best of luck and hope it's everything that you expected.

 

Cheers

[RabbitRun]

@RabbitRun, I think Banksy  is talking about CCR by Matrix, not GCR.

 

Good photo's btw, glad for you that the project is nearing completion. Best of luck and hope it's everything that you expected.

 

Cheers

Thanks, EvilFriar

 

I am pretty sure Banksy means GCR because on May 23 (see prior page) he asked me "What's the story with this development, seems to be overdue like all the other projects in Pattaya." in reference to GCR (Grande Caribbean Resort). Also, CCR doesn't have ships in its pool area. I believe the confusion is due to Banksy quoting Bullseye's post that mentions CCR.

 

If I'm totally wrong, then my excuse is that I have a wicked head cold! ;)

[Evilfriar]

No, your spot on, I overlooked the ship reference.

 

Cheers

[banksy35]

Thanks, EvilFriar

 

I am pretty sure Banksy means GCR because on May 23 (see prior page) he asked me "What's the story with this development, seems to be overdue like all the other projects in Pattaya." in reference to GCR (Grande Caribbean Resort). Also, CCR doesn't have ships in its pool area. I believe the confusion is due to Banksy quoting Bullseye's post that mentions CCR.

 

If I'm totally wrong, then my excuse is that I have a wicked head cold! ;)

 

yep, thanks for the photos, I still can't access, the facebook page, but glad to hear you can.  Most of the complaints I was reading on the site, were around ship colours and tile colours of the pool.  For me I like the darker colours, so doesn't bother me.

[Evilfriar]

It's certainly an ambitious looking project, if it all comes together will be spectacular.

 

Cheers

[RabbitRun]

It's certainly an ambitious looking project, if it all comes together will be spectacular.

 

Cheers

Should be finished soon. I think the ship colors and pool tiles look good (I prefer the dark tiles, too). One disappointment is that the ship cannons and the cannons to be mounted on the Lighthouse platform just spout water jets into the pool, rather than being fully functional cannons ;)

[ModBellerophon]

Banksy35, I'm a bit delinquent in not posting here few the last few weeks, been busy looking for and purchasing items to upgrade my GCR condo when I move in. Yes, as I mentioned to a poster in private messages elsewhere, GCR is a little over one year late in scheduled completion (July-August '16 my guess) compared to the original schedule of 2nd qtr '15 set back at groundbreaking/EIA approval in 2012. It is very frustrating for me and I know other buyers have expressed their feelings to Blue Sky senior management (who listened in person and were sympathetic and responsive, unlike some developers I've heard of).

 

I think its probably a different tone because the owners/management aren't made up of the same types of folks that a lot of the other development companies are.  The ownership group is actually a conglomerate of old Bangkok Indian families and this is their first big foray into the property development world, so they've been nearly as apprehensive about delays as the actual condo owners probably are.  They also pretty much all come from customer service, lots of hotel chain owners etc. so some degree of customer service is a bit more ingrained in their thinking than some of the other developers around Pattaya seem to be.

 

Just my two cents....I do work with a pair of the families on their other interests (and did the original financial modelling for the GCR project when they originally started moving on the idea).  Generally good folks from my company's experience in dealing with them.

[RabbitRun]

I think its probably a different tone because the owners/management aren't made up of the same types of folks that a lot of the other development companies are.  The ownership group is actually a conglomerate of old Bangkok Indian families and this is their first big foray into the property development world, so they've been nearly as apprehensive about delays as the actual condo owners probably are.  They also pretty much all come from customer service, lots of hotel chain owners etc. so some degree of customer service is a bit more ingrained in their thinking than some of the other developers around Pattaya seem to be.

 

Just my two cents....I do work with a pair of the families on their other interests (and did the original financial modelling for the GCR project when they originally started moving on the idea).  Generally good folks from my company's experience in dealing with them.

Good post, thanks for that. I agree with all, except their "first big foray into the property development" was the Atlantis Resort, just down the road from GCR and also a 1,000+ unit project. During the due diligence phase, I compared the almost complete Atlantis build to the cgi. Also, both projects utilized the same unit plans, so their crews had plenty of experience, way down the learning curve. I bought into GCR rather than buying a nearly complete Atlantis condo because I liked the improvements made to the GCR (better value for the baht, IMO).

[banksy35]

I think its probably a different tone because the owners/management aren't made up of the same types of folks that a lot of the other development companies are.  The ownership group is actually a conglomerate of old BangkokIndian families and this is their first big foray into the property development world, so they've been nearly as apprehensive about delays as the actual condo owners probably are.  They also pretty much all come from customer service, lots of hotel chain owners etc. so some degree of customer service is a bit more ingrained in their thinking than some of the other developers around Pattaya seem to be.

 

Just my two cents....I do work with a pair of the families on their other interests (and did the original financial modelling for the GCR project when they originally started moving on the idea).  Generally good folks from my company's experience in dealing with them.

 

Good post, would love to hear more on how developments are funded in Thailand.  My understanding is GCR is financed by a bank which is a good thing.  Where other developers such as Matrix are funded by owner progress payments?  Also, can someone please give me a link to GCR facebook page that Blue Sky was updating?

[ModBellerophon]

GCR was bank backed.  While owner progress payments factored into the cash flow planning etc. they could have finished the project through bank backing alone (though in reality the project would have probably been abandoned if they had to as no pre-sales would have scared the shit out of the backers). All the families have core holding companies that hold all the hotels/properties/investments in Thailand (predominantly in Bangkok), so those holding companies were the ones that secured the financing as a group. 

 

As to previous developments (Atlantis) the Blue Sky management team represented a different group of backers for that development, though as you noted they used a lot of the same consultants/companies/designers. The families behind GCR it was their first project on this kind of scale.

 

It literally has taken me years just to scratch the surface on the inter-dependency and business dealings between these families...and I still only have a good hold on how the two I work directly with plug into the whole network.

[vermut12]

Hello, folks

 

I have not been to Thailand for several months already and today have received the following e-mail. 

 

Please find the attached of the invoice of Common fee 2016 and please make a payment within 31st January, 2016.  If make payment later than 3 months, the Juristic Person has the right to charge you the interest 1 percent per month (or 12 % per annum) if payment delayed than 6 months, we will charge for interest rate 1.66% per month (or 20% per annum).

 

If you wish to pay by bank transfer, Bank detail as attached.

 

Thank you for your cooperation.

 

Best regards,

 

--

The Management

Art On The Hill Condominium

Mobile  091-119-9285

 

Is this for real? Has the Juristic Person been established already? Do they have the right to charge interest rates? Is it written in the charter?

If it is so why the charges remain so high? I seem to still be paying 39 baht per month per sq m... Which is high. I have just calculated and here in Spain I pay only 27 baht per sq m per month (according to the current exchange rate) for a 200 sq m. condo I own in a complex. And the costs of everything are much higher than in Thailand.

[Ihatematrix]

Good post, would love to hear more on how developments are funded in Thailand.  My understanding is GCR is financed by a bank which is a good thing.  Where other developers such as Matrix are funded by owner progress payments?  Also, can someone please give me a link to GCR facebook page that Blue Sky was updating?

Bank finance for a developer is great until the developers sales slow down and it cant afford the loan repayments. Sort of same same problem, slow sales = I'm fucked.

[whooshbang]

Hello, folks

 

I have not been to Thailand for several months already and today have received the following e-mail. 

 

 

Is this for real? Has the Juristic Person been established already? Do they have the right to charge interest rates? Is it written in the charter?

If it is so why the charges remain so high? I seem to still be paying 39 baht per month per sq m... Which is high. I have just calculated and here in Spain I pay only 27 baht per sq m per month (according to the current exchange rate) for a 200 sq m. condo I own in a complex. And the costs of everything are much higher than in Thailand.

 

Just had the same e-mail.... suffice to say i am not paying until they transfer the ownership to me and pay me the 100K+ THB they owe.

 

Shame