About the company
Raimon Land is a Bangkok developer founded in 1987. It has been listed on the Stock Exchange of Thailand since September 1993, first under the ticker RAIMON and, since May 2012, as RML. The head office is in the One City Centre tower on Ploenchit Road. The company positions itself in the luxury and ultra-luxury segment and, besides residential projects, has hospitality and commercial assets, such as The Ploenchit office building.
What their projects are like
Raimon Land mainly builds high-rise towers in expensive locations: on the seafront, along the Chao Phraya River and in Bangkok’s business districts. It has been active in Pattaya since the mid-2000s and itself describes Northshore (2006) as “Pattaya’s first luxury condominium”.
Three of its four Pattaya projects are on the seafront: Northshore at the northern end of the main bay, and Northpoint and Zire Wongamat on Wong Amat Beach. The fourth, Unixx South Pattaya on Pratumnak Road, targets a different buyer: compact units that the company marketed as weekend homes for Bangkok residents.
Projects in Thailand
- Northshore, Central Pattaya, beachfront at the northern end of the bay; dated 2006 in the company’s timeline.
- Northpoint, Wong Amat; according to CTBUH, the first 226-metre tower was completed in 2010 to a design by Woods Bagot.
- Zire Wongamat, Wong Amat: towers of 54 and 37 storeys, about 480 units of 38 to 185 sq m, completed in 2014; architect SODA, main contractor Pre-Built.
- Unixx South Pattaya, Pratumnak Road: one tower with wings of 42 and 46 storeys, about 1,209 studios, one- and two-bedroom units on more than 7 rai, completed in 2015.
In Bangkok, Raimon Land’s portfolio includes The River on the Chao Phraya, 185 Rajadamri, The Lofts series (Sathorn, Asoke, Silom), Tait Sathorn 12, The Estelle Phrom Phong and The Diplomat 39. In Phuket it built Kata Gardens and The Heights Phuket, and its current project list includes SLS Residences Phuket in Kamala. Its timeline shows no new Pattaya project after Unixx; as early as 2014, a company representative told Pattaya Mail that Raimon Land was taking a wait-and-see approach to new Pattaya projects.
What buyers should check
- Building age. All Raimon Land buildings in Pattaya are now resale, and Northshore and Northpoint were built back in the 2000s. Ask the juristic office for a condition report, the sinking fund balance and the major-repairs plan: in towers above 50 storeys, lifts, facades and building systems are significant cost items.
- The Unixx format. Units there are compact, from 27 to 62 sq m, and there are more than a thousand of them. For rental investors that means strong competition within the building, so check how many similar units are already on the market before you buy.
- Buyer mix. According to Pattaya Mail (2014), about 70% of Zire Wongamat’s buyers at launch were Thai. Still, confirm the remaining foreign quota in the specific building before paying a deposit.
- View and floor. At Northpoint and Zire, both on the Wong Amat beachfront, not every unit faces the sea, so compare units with the same orientation and height.
