The days of pay-as-you-go construction in Pattaya are over according to Haim Bar-David, the chief executive of multi-condominium developers Heights Holdings, writes John Davids.
He believes it is no longer practical in the current market for a developer to buy a plot of land and bring in deposits and part-payments to fund a project through its construction phase.
This has been a fairly standard practice and one which on occasion has resulted in abuses by unprincipled developers.
Haim feels sufficient funds need to be in place before building starts so progress can be swift and buyer confidence can be gained and retained.
“The market is in transition and professional players are needed now to meet the increasingly sophisticated demands of owners and investors,” said Haim.
Here’s how the interview continued ...
REm: You have eight projects in Pattaya. How do you successfully manage so many projects?
HB-D: We believe in abiding strictly with construction schedules. That’s key.
Also we have a well-trained salesforce capable of independent thought. Add to this our focus on customer services and, of course, quality construction and materials and you will start to appreciate why we are operating here successfully. Only companies with a proven track record such can be as active as Heights Holdings is.

REm: Do you believe there is a market for high quality construction in Pattaya? Are customers prepared to pay a premium?
HB-D: We believe there is a market for high quality construction here in the city at affordable prices. One of our goals is to make people realise the quality lifestyle they can achieve by buying into our projects.
There is a multitude of Bt1m condos out there, but, when you factor in the quality of our build, locations and amenities it is easy to understand why Heights Holdings is so successful in the mid-range market.
At the end of the day quality sells itself.
REm: Two projects are fully built. How many are currently under construction?
HB-D: Four – Park Royal 2 and 3, Laguna Heights and Club Royal 1.
Plus we have two more starting construction within the next six months – Laguna Bay and Club Royal 2. The next 6-12 months will be very busy for Heights Holdings and will see us emerge as a dominant force in the local property market.

REm: With so many projects on the go how do you ensure they all stick to schedule?
HB-D: Heights Holdings has the self-finance in place to allow us to push these projects forward.
We have an excellent sales record which means we can have several projects under construction at the one time.
Added to this that we work closely with the Wandeegroup which does fantastic design and construction work. They help us to keep on track and, in most cases, ahead of schedule.

REm: Laguna Heights is the next of your projects due to complete. What did you do to help differentiate it from other projects in the Wong-Amat area?
HB-D: Yes, Laguna Heights is one or two months away from inviting owners to take up occupancy.
It’s a flagship project for us designed by star architect Mario Kleff of Wandeegroup.
We have received excellent feedback from customers regarding the design and materials used. For example, we were the first in the city to use such an extensive amount of top (9,000) grade European aluminium in the building.
The building features floor-to-ceiling glass throughout. It also has one of the most unique swimming pool and sundeck areas on the eight floor overlooking the beach and sea.

REm: Final thoughts, Haim?
HB-D: Our high level of activity and the fact that we have more projects in the pipeline shows our commitment and belief in the Pattaya real estate market.
We are selling well, even during low season which demonstrates that customers are still receptive to high quality construction. This also reaffirms to us that customers desire our developments and trust Heights Holdings to deliver.
The market has changed to a more professional climate which is good news for the overall health of the local real estate market. Ω