Most of the new property developments depend upon generating cash from buyers of units. Once enough people have signed up and paid deposits, then a muddy piece of land can start the transformation process into a condo block. That’s the theory anyway. Too many developments don’t get past the extracting deposits from customers phase (The Sails, Ocean 1).
But showing potential customers a pile of mud in a less than salubrious area does not encourage deposits, so many companies build fancy showrooms in more visible locations. Much easier to get a signature on a contract from the comfort of a chair in an air-conditioned showroom.
The latest players are the developers of the Tropical Dream which, according to their sales fluff website, is going to be a six star condo; although the qualifications for six stars remains unclear. Also unclear is the pricing, but it will include an element to pay for the building above, an adjacent building of the same size, and extensive landscaped grounds, all of which has been under construction for the past couple of months, and all of which will be redundant once the sales process is complete.
The actual building site is harder to find, in fact I was unable to locate it based on their map; but it seems unlikely that the sea views indicated in their “artist’s impression” will exist in reality.
Yet another grand scheme, to join all the other grand schemes currently vying for attention from visitors to this fair city, of which there are very few compared to previous years. Please form a queue.