Nordic Tropical Resort, Chon Buri (Pattaya)

A rare opportunity to acquire a Board of Investment (BOI) approved business with significant potential for expansion in Thailand’s fast-growing Eastern Economic Corridor, one and a half hour’s drive from Suvarnabhumi International Airport.

Nordic Tropical Resort was established in 2005 with BOI approval for full foreign ownership of 56 Rai (9 Hectares) of land and other privileges to provide wellness and residential services for senior living.

Thus far the resort comprises 59 villas and 36 condominiums on 30 Rai (5 Hectares), most of which have been sold on a leasehold basis and provide a profitable management income. In addition, there is a reception building with offices (1,288 sq.m), a café, a minimart and a spa, a 500 sq.m restaurant (open to the public) with a well equipped kitchen, a swimming pool, gym, mini golf course, kid’s playground and a grass area for other recreational activities.

The residential properties are mostly privately owned and used by Scandinavian visitors for only part of the year. A few villas and condominiums are available for long-term rental by their owners.

Adjacent to the built-up area is a large piece of undeveloped land of 26 Rai (4 Hectares) with potential for up to 400 condominium and/or villa units for which a master plan has been drawn-up. The development area is fully served by utilities and requires little preparation prior to starting construction.

Bang Saray is a quiet fishing village located 20 minutes east of Pattaya City and is easily accessible by a newly completed motorway and bypass directly from Bangkok. The area is also served by Utapao International Airport and its recently opened new terminal, and is set to benefit further from other developments in the Eastern Economic Corridor including a deepwater port and a fast train service linking Utapao with Suvannabhumi and Don Mueng airports.