Final permission has been granted for the Ocean One Tower (or "O1" for short) in Jomtien, which will be the world's tallest apartment building at 1130 feet (345 meters) and 91 stories, and will be Thailand's tallest building. Ground breaking had begun a while ago for O1.It really is a pretty building, if I do say so myself. (I do question the wisdom of purchasing an ocean-front condominium 1000 feet off the ground: It's not like the view of the sky and water is any more interesting at that height compared to, say, 100 feet up. Oh... and talk about a sea breeze! Balcony living in the jet stream?)
Original purchase opportunities came in at 75,000 baht per square meter ($200 per square foot), but now 100,000 baht per square meter ($250/sq.ft.) is the going price, regardless of floor.
In related news, Jomtien's Ambassador City is not the world's largest hotel as I thought it was. The MGM Grand in Las Vegas has 5,000 rooms, and officially The Ambassador has 4,200 (at best) after several smaller components of it were split into separately-owned properties.) Regardless, Dubai is building a 6,000 room hotel to open in the near future and the whole MGM/Ambassador argument will be moot.
1 comment:
The developer is just a pretender. They announced early 2008 that they were to start construction but of course did not and never were ready. Neither would they have any funds. It was just the latest misinformation, admittedly again published in smart way, to reassure those fools who had already invested and attract some more guys to put in money into what is probably one of the bigger cons in the local property market.
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