Ocean 1, a lack of foundation

The history of the Ocean 1 project, reported here many times, has been a rollercoaster ride; mainly in the downward direction.

After years of inactivity, I recall the frisson of excitement that rippled through the Pattaya community when Siam Royal Best Enterprises, the developers, announced the arrival of a concrete batching plant which would be used to create the foundations. Exciting times, and the news was displayed on the Ocean 1 website.

Sadly, this was to be the last ever news update. Even more sadly, for those who had “invested” in this magnificent enterprise, the concrete plant was soon churning out concrete, but none of it was being used for foundations. Instead, the concrete was being transported to other projects that were actually being constructed.

This sad charade continued for a couple years, until one of my loyal readers who will remain nameless (thank you Egglebert), sent me some shots showing that the batching plant was being dismantled without ever having fulfilled its proclaimed purpose:

Took a trip down to the site the other day and the it looks pretty much as it did when the project was first launched five (six? seven?) years ago:

On the left of the second photo is View Talay Residence 3, another development by Bruno Pingel’s Siam Best Enterprises. Siam Best continued to manage the building after construction and had failed to comply with the Condominium Act by not providing annual accounts and not holding annual general meetings. An emergency AGM was held last month where Mr. Pingel’s representative showed his excellent knowledge of the law by replying to the question “why have you never held an AGM?” with “nobody asked us to hold one.”

The owners felt this was not an acceptable answer and joined the owners of Residence 1 and Residence 2 in dismissing Siam Best as managers and employing another company.

But what about the future of Ocean 1? Personally, I remain cautiously pessimistic.

Comments 🔗

2012-02-20 | TheSon says

I certainly hope nobody goes to www.ocean1tower.com/admin/ and manages to correctly guess the CMS log-in.

2012-02-20 | Jock says

Nice illustration though … maybe the project will be re-incarnated with some grander name … like Burj Du Pattaya … that´ll get the Arab money rolling in.

2012-02-20 | Spike says

Me too. Let me know when you’ve cracked it.

2012-02-20 | genuinej says

You cynic, you!

2012-02-21 | David says

But will I get my 3 million baht back?

2012-02-22 | Spike says

But of course. All funds from investors have been placed on deposit and will be returned with interest and have not been spent on Ferraris.

2012-02-22 | Grant says

And Drew is handling the legals…noiselessly!

2012-02-22 | Spike says

Drew and Bruno , what a devastating combination!

2012-02-22 | Grant says

None better, at least in their own minds, and who would want to go there! Shudder…

2012-02-23 | MSB says

Does the name Ocean 1 suggest that they might, one day, launch a 2nd tower??

2015-01-30 | Michael Nettesheim says

Hello Bruno … your special friend Michael Nettesheim has come back to Pattaya now… i dont know how ???? but he is here und plays his game again … this dirty motherfucker … he told me, he`s in Naclua ;-)

2015-01-31 | Spike says

You seem a little confused Michael; talking to yourself and not knowing how you got here. Also, Bruno doesn’t hang around here; suggest you pop down to his office and give him a nice surprise.