Already, visitors can gauge the enormity of the gated community that is valued at more than Bt5 billion. Already finished are show units, its infinity edge swimming pool on an 80-rai private beach and sturdy seawalls to hold back high tides.

There is nothing second rate here, says Boathouse Hua Hin's managing director Praphaisith Tankeyura leading a tour of the project. A veteran banker with more than 30 years at Tisco, Citibank and Bank of Ayudhaya where he served as president, Praphaisith is known for his professional approach to investment.

"It was my years at the banks that allowed me to forge important contacts such as architect ML Tridhosyuth Devakul. I am most familiar with his works as my banks had financed many of his projects such as Tridhos Marina.

"Upon leaving the bank to set up my own company, I had wanted to work with him again someday. When the opportunity arose with Boathouse Hua Hin, a 73-rai estate situated near Dusit Resort, he was my first choice."

The famed Harvard-trained architect lost no time in creating a palace on water. The  landmark project has lots of canals and ponds in the form of conjoined swimming pools that run all the way  through the palatial compound, filled with villas and medium rise condominiums.

Buyers have a choice of three-storey villas built on modest plots of 50 square wah or more elaborate mansions constructed on plots of more than 100 square wah.

Completed, furnished units are available for buyers to sample.

In the first phase a third of the 90 villas and two out of four condominium buildings will be constructed.

Praphaisith expects the construction of the estate to take another two years to finish. The two condominium towers offer studios of 60 square metres to large loft units with expansive atriums facing pools of water.

Prices for the studios began at Bt3.7 million when the project was launched earlier in the year. Today prices have risen and the starting prices now is Bt4.5 million for a furnished unit.

Boathouse has employed Christiani & Nielsen to construct the project. Interior firms P Interior of designer Rujiraporn Wanglee and Prisma Architect of Prisamai Chitvimol were assigned the fitting out of two show homes at the site.

Even though the travelling time to Hua Hin is three hours or more each way, the trip is more relaxing than going to Pattaya, being free of industrial traffic, heavy trucks and grim-looking landscapes.

Even with the recent speculative fervour by foreign and local punters, the Cha-Am and Hua Hin townships will always be protected by authorities who have strictly kept out undesirable elements that are unbecoming of this historical part of the Kingdom.

"Land values have surged this year," said Praphaisith. "Our advantage is having bought the site before the speculation began. It would be very difficult to buy seafront land today."

Some sellers are asking for Bt30 million a rai, or about Bt80,000 a square wah, equivalent to prices sought by land punters in the prime suburban sections of Bangkok.

Itthi C Tan

The Nation

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