Neo Pattaya plan for EEC growth; new mega projects released

The Thai government unveiled a fresh blueprint to boost the economy and employment in the Eastern Economic Corridor (EEC), a special area spanning Chonburi, Rayong, including Chachoengsao provinces, which is situated in proximity to vital transportation centers such as airports, highways, and also seaports, making it appealing to investors and companies.

What is EEC?

EEC stands for Eastern Economic Corridor, which is a special economic zone in Thailand spanning the provinces of Chonburi, Rayong, including Chachoengsao. The EEC has been designed as a hub for high-tech industries including innovative projects, with a focus on cutting-edge industries and infrastructure improvements. The Thai government aims to attract significant investment to the EEC by 2025, with a particular focus on attracting foreign investment. The EEC is strategically located near vital transportation centers like airports, highways, and also seaports, making it appealing to investors including companies. The development of the EEC, including the creation of a new metropolis, "Neo Pattaya," is expected to drive economic growth, create employment opportunities, and also promote the growth of pioneering startups.

Why is the EEC important?

The EEC is important for several reasons. Firstly, it is a key initiative by the Thai government to boost economic growth including creating new job opportunities in the country. The development of the EEC is expected to attract significant investment, both domestic and foreign, which will drive economic expansion in the region. Additionally, the EEC is strategically located near vital transportation centers such as airports, highways, and also seaports, making it an appealing destination for companies looking to establish a presence in the region.

The EEC's focus on cutting-edge industries and innovation is another important aspect of its significance. By attracting high-tech industries and innovative projects, the EEC is positioning itself as a hub for the future of business in Thailand. This emphasis on innovation is expected to promote the growth of pioneering startups and drive the development of new technologies in the region.

Furthermore, the creation of "Neo Pattaya" in the Chonburi province is an essential part of the EEC initiative. This new metropolis is expected to function as a hub for research and also development, innovation, and also high-tech industries, attracting both local and foreign investment. The development of Neo Pattaya is expected to drive economic growth and create new employment opportunities in the region.

Overall, the EEC is an important initiative for Thailand's economic development, and its success is expected to have a positive impact on the country's economy including the broader Southeast Asian region.

What developers are involved in EEC? 

Several major developers are involved in the Eastern Economic Corridor (EEC) initiative in Thailand, including:

Asset World Corp Public Company Limited (AWC) has recently launched its newest mixed-use project, "Aquatique Pattaya," with a budget of 10,000 million baht. This real estate firm aims to support the Neo Pattaya plan, which strives to boost growth and also development in the Central Pattaya region. The project also will comprise a variety of commercial spaces such as a shopping center, entertainment venues, including hotels, among others. With an emphasis on sustainability, the project aims to create a sustainable community that reduces its carbon footprint.

Central Group is also investing heavily in the development of the Wong Amat Beach Village project, with a budget of 3,000 million baht. The project, set to open its first phase in December 2022, will also be an open-air shopping center that provides visitors with a unique shopping experience. This group's portfolio includes various hotels and also shopping centers in the region, and also this new project will further boost their presence including offerings.

LH Mall & Hotel group has launched the Hotel Grande Center Point Space Pattaya, a new hotel in the heart of Pattaya with a budget of 3.3 billion baht. The hotel features a unique space world design concept, a first in Thailand, and offers luxurious accommodations and state-of-the-art facilities to cater to the diverse needs and preferences of locals including international guests.

CP Group, one of Thailand's largest conglomerates, has allocated a vast piece of land for its upcoming mixed-use project, emphasizing hotels, retail spaces, and marinas. This development will capitalize on the potential of the high-speed train project that connects three airports, offering visitors an unforgettable experience that caters to their needs and  preferences while supporting the growth and development of the region.

Various real estate firms and conglomerates are committed to developing Central Pattaya, with a focus on sustainability, innovation, as well as luxurious experiences for visitors. This investment aims to boost the region's economy including growth potential.

Developers are expanding their property portfolios in the area, which is expected to advance the condo industry in Pattaya, a popular tourist destination in Chonburi province. The government's support as well as influx of investments could also transform the Eastern Economic Corridor (EEC) into a hub for advanced industries including innovative ideas, attracting more corporations including investors.

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