The Ocean 1 Tower plot this morning was extremely inactive. No one on site. No digging. No work. The mega-project seems to be on hold in response to the current economical climate i.e. gloom. No more smiling faces on realtors and developers. Life has become a struggle in 2008.
“There was no high season this year.” One sales rep reported over the phone. “Grim, that’s what I call it, but strangely the only people buying are Thais for investment. They still believe in the market turning around, mostly because they don’t want to put their money into the Thai stock exchange.”
“Do you think Ocean 1 will be built?”
“Ocean 1? I had forgotten about that.”
“Most people have.”
“Not the developers. They will build it when the time is right, whcih is not this year, although it’s going to take 5 years, so maybe they will start. Pattaya City has given them the green light. Now even more than ever to give people confidence.”
“Great news.” It was not news. Only an opinion and my hunch is that OCean 1 will start construction should the new government re-adjust the laws on foreign ownership.
Never?
For a related article click on this URL
https://www.mangozeen.com/ocean-1-jomtien-the-new-tower-of-babel.htm