The Riviera Group Signs 920 Million Baht Construction Loan with SCBLast Month saw The Riviera Group bring to a conclusion the signing of the Construction Loan for The Riviera, Wongamat Beach. Khun Sommai Ungsrithong, FS.V.P at SCB said, “It is good to be working again with Winston Gale and his team. Since The Palm in 2012, we have had a positive working relationship together”.
Attending the signing for SCB was Khun Sommai Ungsrithong, FS.V.P, Bangkok, Chonburi Regional Manager K. Anol Eaksil and K. Khomsai Sangratsamee, Relationship Manager. Attending for The Riviera Group was Owner and Founder Winston Gale and Projects Director Sukanya Gale.
Winston stated “ We are pleased to have concluded this loan with SCB, this will help assist us in the completion of The Riviera, Wongamat. Its great we have a long-term working relationship with SCB and it also shows to the market the confidence they have in us. Construction progress is on schedule and as a team we are working very hard to maintain this position.”
With the Pattaya property market being stagnant and tourism also experiencing a difficult set-back period, an SCB spokesperson noted that The Riviera’s 920m loan, was an indication that SCB still saw the Pattaya market as positive, but was clearly determined much more these days than in previous times by the Projects uniqueness and the Developers ability to adapt to challenging times.
Today, the project stands at 33 floors (South Tower) and 31 Floors (North Tower). Topping-out of both buildings is expected late August when the buildings reach 43 and 40 floors high. Their 45m THB showroom where the ‘Glamorous’ theme was launched end of 2013 is finally scheduled for demolition this August, making way for extensive swimming pool works.
The Riviera, Wongamat Beach is a 3.6B Thai Baht project with a completion date of late 2017.
Caption for Photo
(Far Left) Winston Gale, Owner of The Riviera Group (Left) K. Sukanya Gale Projects Director
(Right) K. Sommai Ungsrithong, FS.V.P, (Middle Right) Chonburi Regional Manager K. Anol Eaksil (Far Right) K. Khomsai Sangratsamee, Relationship Manager.