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Condo Default Pain Not Limited to Phuket

Category: Real estate, Posted:04 Sep 2010 | 06:00 am

Despite a few isolated cases of developer defaults in the island's challenged condo market, consumer pain in something that can be felt increasingly around the globe.
Take for instance the glitzy luxury Cosmopolitan condo-hotel development in Las Vegas. With management by the Grand Hyatt flag and 2,600 units on offer, the original brainchild of entrepreneur Bruce Eichner has now seen the project revert to Deutsche Bank.
A number of very public legal disputes with disgruntled purchasers have placed the bank under the gun in media accounts. An assortment of well known personalities have issues comments about tying money up for a number of years and units still not being delivered.
Sounds familiar?
Property and the global financial crises have become unlikely bedfellows and for now until the larger outside world goes into an economic upswing expect more pain then pleasure for unhappy off plan investment and real estate buyers.

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Koh Samui Gets New Daily Direct Flights From Singapore

Category: Tourism, Posted:14 May 2024 | 09:32 am In a major boost for Koh Samui tourism, Singapore’s Scoot Airlines has commenced daily flights. Currently, there is a daily flight, with a second flight expected to be added in June of this year. Scoot is a subsidiary of Singapore Airlines. The airline is using Embraer E190-E2 aircraft which accommodate 112 passengers on the route. […]
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The C9 Sessions – Understanding Thailand’s Hotel License Regime and Procedures for Branded Residences, Condo Hotels, Mixed Use Projects and Vacation Rentals

Category: Hotels|Real estate, Posted:13 May 2024 | 16:39 pm Branded residences, condo hotels, mixed-use projects, and vacation home rentals are becoming a significant player in Thailand’s hospitality space. As property developers, real estate investors, and property buyers are learning, this is a complex space that requires well-structured projects. Join us for a unique 90-minute co-working lunch learning session about all the moving parts in […]
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Phuket Hotels Association Charity Online Auction Now Open

Category: Hotels|Tourism, Posted:28 Apr 2024 | 09:14 am The Phuket Hotels Association’s absolutely fabulous charity travel sale is now open. This annual event continues to grow with amazing travel stays and other prizes not only in Phuket, but across the region and the world. New items are continuing to be added so check back often. All proceeds go to support over 20 full-time […]
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