New landmarks are shortly to appear in the very heart of Lamai, as New Nordic begins a multi-phased, multi-purpose series of linked developments consisting of resort accommodation, condominiums, entertainment and restaurants. Lamai, long-considered Chaweng’s little sister, is ideal for the group. It has just about everything: the sea, an amazing backdrop of mountains and a plethora of eating and drinking opportunities. This means that visitors and residents will be able to enjoy staying and living here, with everything that they need right at hand, usually just minutes away.
New Nordic Group is well-known, and has over 40 finished projects just in Thailand. At the time of writing, they have 12 more projects under construction, and more will be launched soon in Thailand, Cambodia, Vietnam and Bali. They have their headquarters in Hong Kong, but also have offices in Norway, Bangkok, Samui, Pattaya, Cambodia, Bali and The Philippines. New Nordic started about 10 years ago, and ended up constructing some fifty buildings in Pattaya. They realized that what people wanted was a sense of community, and to that end they also decided to include restaurants, bars, shops and various services in the projects. New Nordic was, and is, enormously successful, and part of their recipe is to always make sure projects are finished on time, and to keep his customers well-informed of every step along the way.
New Nordic’s three main developments in Lamai are proving very popular with buyers. We’ll look at each in turn. Firstly, New Nordic Koh Samui Lamai Hotel and Resort has hit the ground running; it’s already 90% sold. It’s centrally located, but as it’s actually set in a side street it will offerplenty of privacy, too. The resort will have two reception areas, private parking, a swimming pool, restaurants and shops, along with extremely comfortable lodging. As you can imagine, it’ll be extremely popular with holidaymakers.
Close by, you’ll also find New Nordic Water World, a complex of swimming pools and slides, not to mention eating and drinking facilities. However, it’s more than just an aquatically-themed place of leisure; it also offers condominium living. There will be a variety of units, which will be of interest to both investors and to people wishing to live in a prestige development. Waterworld will be a place for all the family to come and relax and enjoy good times together. Currently some 25% of the units have been snapped up, and interest in the development is strong.
New Nordic will launch their third project soon, which is to be … a castle. This might seem controversial to some, but it’s no earnest medieval fortress, rather a place of pleasure. New Nordic already has two in Pattaya which have been very successful; the castle in Lamai will be built using more or less the same principles. There’ll be many luxury suites and wonderful opportunities for dining, and this will be something quite out of the ordinary. You’ll also find here Club High Society, which is a paid membership club, a theme restaurant, lounges, wine cellars and mysterious dark caves that promise still more fun. These are just a few examples. And, naturally, there will be prime accommodation too, which is fast selling out. Incidentally, New Nordic has also bought a beachside bar and restaurant and other facilities, all close by.
The three developments are adjacent to each other, allowing investors in any one project to enjoy the amenities of the others. This also ties in with New Nordic ideas: they believe it’s futile to buy cheap land that’s right out of town. They take the opposite tack: find the best terrain, in a good location, even if it costs a lot more. It’ll be worth it as the condominiums and facilities will be in demand all the time. This in turn leads to good revenues all round. By grouping the projects together in a brilliant location, they have ensured that the Lamai developments will enjoy popularity for years to come.
But there’s a lot more than just location that makes these projects attractive to buyers; there are the guarantees that go with them. Jan Nuijten, the Samui General Manager says, “In Samui we’ll be selling leasehold. We give a 30-30-30 year lease contract but we can only register by law 30 years at a time. We pay for the registration. After 15 years of 10% return, we can discuss a new term of return, or we will renovate the unit for you and you can do with it as you like.”
New Nordic, as part of their philosophy, makes the buying of properties very simple. You can secure your unit with an initial small down payment. After that you pay in instalments, with everything being clear from the outset. All agents, incidentally, operate with the same sets of figures, meaning that you don’t need to shop around in order to see whose deal is the best one.
Interest is always strong when there’s a long-established and trusted developer who’s at the helm, such as New Nordic, so it comes as little surprise that their properties are already selling well in Lamai, even though they haven’t been completed. Very soon now, Lamai will have the first of the New Nordic residential buildings completed, and it’s expected that these developments will be every bit as successful as the ones they have already built in Pattaya and elsewhere.