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Kaymanx
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My take on this is that the decision makers probably realise that, given the continuing problems in Thailand and the world at large (political, economic, natural and manmade disasters, et al) P4P is the only tourist attraction guaranteed to keep the coffers filling and therefore it would be foolhardy to break down an established and globally reputed venue like NEP. Other venues similarly insulated from the "shut down" scare (imho) would be Patpong, Cowboy, Soi Bangla. For the same reason, Pattaya will stay Pattaya.
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Thai Girls : Meet Sexy Thai Girls
Posted on: 12:01 am on Nov. 26, 2011
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jibblies
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My take on all the stories about pulling down NP to build some hotel or shopping plaza is: 1. Who needs another shopping plaza? Terminal 21 has just sprung up, not far away is Emporium. It's full of Thais taking photos of each other, not that much spending, I'd guess. There's a new one coming up at Ekkamai, etc, etc. There's already at least one or two shopping centres at pretty much every Sukhumvit line BTS station. How can another one be supported, especially with the average Thai wage? And Nana Plaza's not even adjacent to the BTS station. On the opposite corner (Sukhumvit and Soi 3) is a fairly new shopping centre. How is that doing? How would one in NP do any better. I can't see the reasoning behind it. 2. Another hotel? So many hotels already. Why are tourists going to stay in that area, apart from it being near NP? With NP gone, er....
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Bangkok Women : Meet Sensual Bangkok Women
Posted on: 6:49 am on Nov. 27, 2011
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magnum
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Quote: from jibblies on 7:49 pm on Nov. 27, 2011
... Jibblies, you are correct... but... you are thinking logically... maybe irrelevant by the local standard. ... in both instances, you are correct... over-building in both categories is widely acknowledged in the market. (1) In the case of retail, BKK is over-retailed with conventional shopping malls... the retail opportunities are gravitating to specialized retail with the big box category killers (like Ikea, Office Max, etc.), and small neighborhood retail centers (like Siam Future is developing - J-Avenue, )... NEP is suitable for neither; (2) Nana is located in the 'retail death zone'... centers connected to the BTS are golden... profitable centers in the suburbs are still possible... but, centers even a couple of hundred meters from the BTS are in the 'death zone'... example: All Seasons Place is a stone cold failed retail center. (3) Incidentally, I predict Terminal 21 will KILL... its programming and merchandising are by far the best and most disciplined in Thailand... from the top floor to the basement level, count the percentage of people with shopping bags at Terminal 21 v. Siam Paragon... my bet is that Terminal 21 is scooping a significant share of young shoppers (especially women), aged 15-30 from Siam Paragon and Siam Discovery... Terminal 21 is very good at capturing its targeted market; (4) NEP could host residential... sweeping the sex industry from the neighborhood, and you are left with the potential for a Langsuan neighborhood, anchored at the bottom of the soi by the expansive park being developed where the Tobacco Monoply is located... but, I really doubt that is going to happen; (5) NEP could be a hotel location, but would not rise to a 5-star international standard location... and there is the issue of massive hotel oversupply... but, market oversupply never stopped a Thai from making an illogical investment... their metrics are not so sophisticated; (6) But, I believe the greatest dilema preventing the value of the NEP land from being unlocked is that the commercial merits of this site are distorted by the corrupted ownerships of the bars themselves. I don't know with certainty, but long established involvement in the bars by corrupt government officials, Royal Thai Police and Army is probably pretty likely... I suspect the hooks are sunk deeply in these businesses... these guys put no money into the bars, but scrap a handsome percentage in return for the 'facilitation' they provide... they are the ones to lose if NEP is redeveloped, and I just don't see that happening. If the master lease was transfered or the land sold, as Daffy Duck reports, I cannot imagine that it could have been transacted at a market rate... no way an investment in land reasonably valued at THB 700m+/square wah can be returned by 3-level bar complex, no matter how popular they are... no way. Maybe 'other considerations' on other non-NEP land could be won by the land buyer/master lessee from the 'dark forces' whose hooks are into NEP, in return for transfering the NEP land at a lower than market rate. I maintain, NEP is not going away.
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Thai Girls : Meet Sexy Thai Girls
Posted on: 11:57 pm on Nov. 27, 2011
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jibblies
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You could be right about Terminal 21. I don't know, I've only been there once. First impressions were that it seemed a bit more interesting than the average shopping centre with the themed floors and the shops reminded me of those in Seacon or Siam Square - interesting and small rather than big designer ones. Still, there were lots of people just having photos taken and, I noticed, an annoying surplus of Japanese restaurants. I went up to the food floors and though the floors were big, it seemed as if 60% of the restaurants were Japanese. Lots of similar, similar, Thai too. I don't remember seeing any French or Italian or British (e.g. pub style) places. Yeah, I know logic isn't a strong point but, still, why would anyone stay in NP without the NP? Bangkok has few enough tourist attractions as it is. Take away the 'exotic' (which even attracts the normal tourists for a gawp, as we see in NP) and what is there? May as well go to Malaysia...
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Bangkok Girls : Meet Sexy Bangkok Girls
Posted on: 8:36 am on Nov. 28, 2011
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schnytzal
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If NEP's going away all the effort spent buying up bars and renovating lately would be a bit of a waste. I have heard and read from many sources that the lease expires in December 2012, after that I doubt it is decided yet. I haven't heard anything firm (not that I am in the know or anything). On the other hand, the world's supposed to end this year, so maybe all this activity is just people cashing in their chips for one last hurrah...
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Thai Women : Meet Matured Thai Women
Posted on: 10:32 am on Mar. 18, 2012
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MickTheKick
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I dont want to sing that same ol sad song, about anything going down... but I got an email from "Raja Fashion", the indian tailor right next to the NEP entrance r/h side, that he will be moving to Sukhumvit between Soi 6 and 8 in August 2012 because of exorbitant lease rates at NEP... So the booming Thai economy might put an end to the bustling life of NEP...
(...) Our 30 year lease with NP comes to an end this August. The rates on the new lease are exorbitant, making the decision to move fairly easy.
But then again.. the shop might as well turn into just another beer belly bar and thereby help to make the world a better place...
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Bangkok Women : Meet Beautiful Thai Girls
Posted on: 3:07 am on Aug. 6, 2012
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magnum
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Quote: from MickTheKick on 3:07 pm on Aug. 6, 2012 I dont want to sing that same ol sad song, about anything going down... but I got an email from "Raja Fashion", the indian tailor right next to the NEP entrance r/h side, that he will be moving to Sukhumvit between Soi 6 and 8 in August 2012 because of exorbitant lease rates at NEP... So the booming Thai economy might put an end to the bustling life of NEP... -------------------------------------------------------------------- (...) Our 30 year lease with NP comes to an end this August. The rates on the new lease are exorbitant, making the decision to move fairly easy. -------------------------------------------------------------------- But then again.. the shop might as well turn into just another beer belly bar and thereby help to make the world a better place...
... Mick, Raja has been making a killing there for a good long while... if he is working off of the typical Thai 30-year lease, he is probably now paying peanuts compared to market rents... the current market rent is probably not greatly different than the 'exhorbitant' rent he paid against the market when he opened there 30 years ago. ... a 'beer belly bar' similar to those adjacent to the NEP gold mine won't support rents paid inside NEP, but they likely will carry whatever sales Raja's was grossing... it is a grand secondary location for a NEP-related entertainment business. ... like the small handful of good custom tailors in BKK, Raja will continue to do well on Sukhumvit... these guys are 'destination retail' (because of these shops' good reputations, their customers hunt them down, no matter their locations), rather than relying on 'impulse sales' by passers-by who wander-in by chance, due only to a very visible location. ... have no concerns whorists... as above, I still contend that NEP will sleazily reign, somewhere on the social continuum between STD Petrie dish and vermin hatchery, for at least another 30-year lease term. ... furthering my confidence in NEP's long-life, is the word I hear that the relatively new owners of Angel-Witch bought 1, maybe 2, more NEP bars.
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Bangkok Girls : Meet Attractive Thai Girls
Posted on: 5:32 am on Aug. 6, 2012
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Kris
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I would tend to agree with Magnum. NEP will be around for a while.
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Thai Girls : Meet Active Thai Girls
Posted on: 7:51 am on Aug. 6, 2012
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BKKdreaming
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-------------------------------------------------------------------- (...) Our 30 year lease with NP comes to an end this August. The rates on the new lease are exorbitant, making the decision to move fairly easy. -- 30 years ago maybe they were paying a few hundred dollars, so if they were still paying that rent or close to that then they really made out all those years, No one like a rent increase, even if it is only up to current market rates ! The tailor shop next to Morning Night is also gone..... BK
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Thai Women : Meet Matured Thai Women
Posted on: 12:24 pm on Aug. 6, 2012
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DaffyDuck
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Same deal with Taj Mahal tailors - my preference in tailors - which have moved to the Sukhumwit side as well, into a building they own. Most of these guys had 30 years to purchase their own buildings to move into (or pool resources). Either way, it's been a year since the declaration of the "End of Nana". Seems to be doing well, so far.
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Bangkok Girls : Meet Attractive Thai Girls
Posted on: 1:25 am on Aug. 7, 2012
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