Pioneering active lifestyle developer, Sunplay Asia, recently hosted a seminar in Bangsaray on Thailand’s Eastern Economic Corridor (EEC), where leading international real estate firm CBRE Thailand, confirmed its view that the destination is a hotspot for luxury residential living.
The “Special Talk on the EEC Market” gathered CBRE Thailand’s customers to Sunplay Bangsaray, a luxury lifestyle estate, where they were treated to an hour-long presentation from Aliwassa Pathnadabutr, Managing Director of CBRE Thailand, who detailed the factors driving the emergence of the destination.
A former fishing village nestled between Pattaya and the port of Sattahip, Bangsaray presents a prime opportunity for sophisticated investors seeking a destination that offers a combination of pristine environment and domestic and international connectivity.
“In the past few years, the market was lacking luxury products that can draw buyers to Pattaya’s residential market, but this is changing fast,” Ms Aliwassa told guests at the briefing. “The area from Na Jomtien to Bangsaray has attracted an increasing number of high-end developments, including Renaissance Hotel and U Hotel, as well as high-end facilities including famous F&B outlets, golf course, vineyard, theme park and international standard medical center. The area has also attracted international hotel brands and luxury developments because of its easy accessibility, beach quality, beautiful hillside scenery and the availability of development land. This area is connected to EEC and Pattaya which will benefit from potential demand from the future projects in the EEC region including U-Tapao Airport City and promoted industries especially aviation, medical hub and tourism.“
“As the EEC continues to grow in the coming years, including the launch of new infrastructure projects like the high-speed rail line and the U-Tapao International Airport, we fully expect to see a thriving luxury sector in Bangsaray in the coming years for both residential and hotel properties,” she added.
Leading the emergence of the destination, Sunplay Bangsaray features 70 spacious condominiums and 50 private pool villas, nestled among tropical sanctuary in the rolling hills above Bangsaray Beach. The uniquely designed private estate is supported by 5,000 square metres of facilities, including restaurants, swimming pools, tennis courts, jogging and biking tracks and a community organic farm.
“We have a strong belief in Bangsaray as a high-end destination and we are delighted that CBRE Thailand shares our vision,” said Adrian Bowen, Chief Operating Officer of Sunplay Asia. “We are proud to be a leader in upscale lifestyle developments and we look forward to introducing residents to experience our exclusive community.”
The popular resort town of Pattaya has attracted domestic and international visitors for many years, but guests are now starting to explore further along the EEC. According to data from Thailand’s Ministry of Tourism & Sports, cited by CBRE Thailand at the briefing, overall visitor arrivals to Chonburi Province saw annual growth of 11.5% between 2012 and 2017 – higher than the individual growth rate experienced by Pattaya (+10.7%). This reflects the emergence of “new” EEC destinations like Bangsaray, Jomtien and Na Jomtien.
These three up-and-coming coastal areas now account for 43% of the EEC’s total condominium supply, according to CBRE Thailand’s own research. This reflects the rising appeal of residential developments outside of Pattaya.
Bangsaray is now easily accessible from several international transport hubs, including the recently expanded U-Tapao International Airport. The development of the EEC’s new high-speed rail network will also allow quick and comfortable travel to and from Bangkok and Thailand’s main international gateway, Suvarnabhumi Airport.
Sunplay Bangsaray was awarded the “Best Condo Architectural Design (Asia)” and “Best Universal Design Development” at the PropertyGuru Asia Property Awards 2018, which are considered the most prestigious honours in the region’s real estate sector.