Pattaya November 2018

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info@podiatry-thailand.com
www.podiatry-thailand.com
SIAM MOTORS
TO DEVELOP A FOURTH GOLF
COURSE IN PATTAYA
For the first time in six years the
prominent Siam Motors Group has
announced plans to further expand
its golf course operations in Pattaya
by constructing what will be its
fourth course in the city. The company
has also announced plans to
move into the condo development
market space in 2019 in what must
be viewed as a good sign for the
continuing expansion and economic
well-being of Pattaya.
The Siam Motors Group spent
two billion baht in 2012 developing
its 18-hole Siam Country Club Pattaya
Waterside golf course, its third
in the city, and it plans to allocate 2.1
billion baht to develop this fourth golf
course.
This fourth course will be called
Siam Country Club New Course and
construction actually commenced
late in 2017 with a scheduled completion
date of September 2019.
The land is valued at 1.3 billion baht
while construction costs are expected
to run around 700-800 million
baht.
The company notes that Pattaya
has seen massive expansion since
around 2004 and it believes opportunities
continue to show themselves
given the amount of money
the central government is spending
on new infrastructure projects and
the focus on the Eastern Economic
Corridor.
The new golf course will be located
on a 660-rai plot in Siam Country
Club, which is part of a 6,000-rai plot
purchased in 1969 and has been
developed at varying times over
the last few decades, starting with
the original Siam Country Club Golf
Course which opened in 1971.
The fourth course is hoped to attract
36,000-40,000 golfers in its first
year of operations and the company
believes it will hit its break-even
point within seven years. All told, the
company will have invested around
eight billion baht into its four courses.
The company believes the total
number of golfers across its four
courses will grow by 35 percent to
200,000 per year by 2020. Most of
these are expected to come from
Japan, South Korea and China. At
present the company says around
75 percent of its customers are foreigners,
the majority from Japan.
In an effort to help support the
golf courses, the company will develop
a golf lodge with a five-star
hotel with 70 rooms next year at the
so-called Old Course. Once this is
completed there will still be around
1,000 rai of available land for future
development.
Elsewhere, the Siam Motor
Group has been reducing the number
of its Nissan showrooms in
Bangkok, and is currently down to
six, from a high of 13. This may be
why the group is now looking toward
condo development in Pattaya, as a
way of further diversifying its overall
business.
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