It’s about three years since the project to build Thailand’s tallest residential building, the 91 floor Ocean 1, was announced. Since the announcement, nothing much has happened and most people, including myself, assumed that the project was dead. Indeed, I was rather rude about the development more than a year ago, and it looks like I owe Bruno Pingel and his team an apology. Because construction is about to commence!!

We know this, because someone has published a mail from Rob Astbury, the sales manager, where he said (in December 2009) “Last week we signed a contract with one of the largest construction companies in China and it is planned for construction to start in February 2010. It is anticipated the building will be compete in four years.” Excellent news indeed!

(If you want to read the complete mail, search on “Ocean 1 Pattaya potential investors discussion group” in Facebook).

Cynics will say that Ocean 1 has been announcing the commencement of construction “in 2-3 months” for the last couple of years and this is not the first time that a construction contract has been announced with nothing subsequently happening; but I am sure this time it will be different. It is also a little disconcerting that there has been no official announcement of the contract, and no sign of mobilisation at the site for a project that was meant to start last month; but I am sure the place will be awash with workers very soon and Pattaya’s proudest landmark will start to rise from the ground.

As Mr. Astbury so sensibly points out, the current bargain price of 143,000 baht a square metre will rise once construction commences ; so you only have a very few days to get your ass down to Siam Best Enterprises in Jomtien and sign on the dotted line. Sadly, this is twice the price per metre that my totally beach front condo unit can currently command, so my plans to sell up and move into Ocean 1 will have to remain but a dream. But you go ahead, you won’t regret it.