When completed, the tower will be 91 stories and 327 metres tall.
After much waiting, the tallest building planned for construction in Thailand now has to green light. It was recently announced that the delay is over, and that the environmental impact assessment was completed with the go-ahead being given for the project to resume. The building is known as the Ocean 1 Tower and will be constructed at Pattaya, an immensely popular beach resort in Bangkok. It will be 91 stories high, making it the tallest tower to ever exist in Thailand.
Pattaya, the area that surrounds the Ocean 1 Tower building site, has been undergoing a massive real estate boom these last few years. While this is good for investors, environmentalists were worried that the influx of visitors and new buildings would bring water shortages and problems getting rid of waste. Because of these concerns, it is necessary for any new project to submit environmental impact assessments before any construction can officially begin.
The Ocean 1 Tower project was delayed for a month due to these assessments, but they have finally been given the go-ahead and plan on starting construction on 30 March 2008. Due to the delays that occurred, the owner, Siam Best Enterprise Co., has had to raise the prices for the condominium units seven times. The current price is US 3,834 dollars per square meter.