One of the first developers to venture into Pattaya after the 1997 financial crash, Wise Asset chairman Eric Lai is now finishing off a 10-rai residential project called La Royale Beach at the far end of Jomtien Beach.

"Construction has almost reached the topmost floor," he said. "By next year everything will be completed."

In Pattaya, a market full of players selling apartments on paper, Lai stands out as among the few builders who can actually show something tangible for buyers to look at, touch as well as inspect.

"As we approach the final stages of construction, we are looking into more ways to improve the property," he said. With the help of veteran builders he worked with during his many years as a top director at Hong Kong & Shanghai Hotels. The group runs The Peninsula and Kowloon hotels. Lai is currently putting in a number of eco-friendly innovations such as solar panels and a desalination system.

"It has taken some time to perfect the design," the trained architect from Hong Kong said. "My idea was to create an enclave that takes full advantage of the pristine site, using the natural geography as contours."

The area is a stark contrast to the more popular parts of Pattaya, where overcrowding and chaotic traffic run amok.

"We are looking to tap the top end of the market with reasonably priced units," he said. Prices of the high-rise apartments start from about Bt7 million for a 100-square-metre unit.

More recently, Lai has launched low-rise homes on the podium above the four levels of car park.

The luxury villas are the project's most expensive homes, built closest to the private beach. The biggest units sell for Bt73 million.

There are two masterpiece villas, each with six bedrooms covering three floors.

"The villas can comfortably house two families at the same time," Lai said. "There are two bedroom areas, one on the upper deck and the other on the lower level. The living and lobby areas are located on the middle floor."

There are four smaller villas, all commanding good sea views.

In many ways, he said, they are better than freehold property. This is because residents can count on the estate's management to provide upkeep and enjoy the project's five-star amenities.

Lai has also designed 32 loft apartments that have sea views and overlook a 60-metre pool and gardens.

These private homes target buyers who require privacy. "All the residents need to do is drive up to the car park, take the private lifts and they are home," he said.

Prices of the loft apartments start from about Bt10 million.

"The prices of all La Royale homes include built-in items, furniture, kitchen, electrical appliances".

 Prices start from Bt70,000 a square metre, he said.

A show unit at the site illustrates how the homes are designed. New show units will also be added next month, said Lai.

More than two-thirds of La Royale has been booked.

His buying of the 10-rai plot  came after spending many long months scouting for a suitable piece to build La Royale.

Itthi C Tan

The Nation

PATTAYA