Photo by Shohel khan on Unsplash
Plans to build three 50-storey condos and two hotels on land adjacent to Ocean Marina on Jomtien Beach have been suspended because of the economic slowdown and lack of tourists caused by the Covid19 epidemic.
Owners of this huge beachside property, Charoen Pokphan (CP), have yet to indicate when work on the development is likely to begin.
CP is Thailand's largest private company and one of the world's largest conglomerates. It has substantial business interests in China.
Directly opposite the property is the entrance-exit to the recently opened Highway 7 extension from Chonburi to U Tapao international airport. This now fully open junction is expected to draw considerable additional traffic and business to the area’s main resorts, including Jomtien, Pattaya and Bang Saray.
Bangkok investors have been snapping up condo units located in the Ocean Marine compound. Meanwhile, local property prices are increasing in anticipation of a mini-boom.
U Tapao airport, a 30-minute drive to the south, is set to play a major role in the massive Eastern Economic Corridor (EEC) project, which also features a high-speed rail link to Bangkok. CP is an investor in the rail project together with various Chinese business interests.
It is thought that the existing railway, which runs parallel to the beach in this part of the Eastern Seaboard, is not suitable for the new the high speed train project.
Owners of this huge beachside property, Charoen Pokphan (CP), have yet to indicate when work on the development is likely to begin.
CP is Thailand's largest private company and one of the world's largest conglomerates. It has substantial business interests in China.
Directly opposite the property is the entrance-exit to the recently opened Highway 7 extension from Chonburi to U Tapao international airport. This now fully open junction is expected to draw considerable additional traffic and business to the area’s main resorts, including Jomtien, Pattaya and Bang Saray.
Bangkok investors have been snapping up condo units located in the Ocean Marine compound. Meanwhile, local property prices are increasing in anticipation of a mini-boom.
U Tapao airport, a 30-minute drive to the south, is set to play a major role in the massive Eastern Economic Corridor (EEC) project, which also features a high-speed rail link to Bangkok. CP is an investor in the rail project together with various Chinese business interests.
It is thought that the existing railway, which runs parallel to the beach in this part of the Eastern Seaboard, is not suitable for the new the high speed train project.
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