The New Nordic Group and the History of Our Rental Guarantee

The New Nordic Group and the History of Our Rental Guarantee

Jan 25, 2018

The New Nordic Group has since the start-up aimed at accommodating the requests of our customers and owners, in a way that benefits both the customers and us as the developer. We started with two small buildings, Suites 1 and VIP 1, in the quiet area of Pratamnak Hill – that was mostly covered by jungle.

At this time we were mostly selling to the Scandinavian market and people who wanted a holiday home in a country like Thailand with stable climate and warm weather all year around, and not to mention affordable prices for living and a wide range of opportunities in terms of activities, attractions, beach life and exploring the diverse nature of the country. It was, and is, also an Eldorado for golfers with more than 20 golf courses within a one hour drive, which led many to stay in Thailand for several months a year when it was at its coldest back home. However, after some time we saw that more and more of our customers and owners purchased an apartment as an investment or as a part of a future plan for when they would retire and would like to spend more of their time in a warmer part of the world. This meant that many apartments would stand empty almost all of the year, which was not good for our community which became more and more like a “ghost town” and it was not good for the apartment itself to be left unused. We had to find a solution, and the best solution -both for us and the owners – was a rental guarantee offer.

Our promise: We can do it better!

During this time, we saw many of the owners starting to rent out their unit themselves via different media, use different firms to take care of the maintenance and have different systems for the service – but with no overall structure or a common agreement it fast became messy. The owners were competing with each other to get the highest prices on renting out their apartments. We took a step back and started looking at our team – and it was very clear to us: we knew that it would be better for New Nordic Group and the owners that we stepped up and took responsibility for this work. With a professional sales and hospitality team, our own maintenance workers and engineers, an IT department, a legal office, transport services and  more, we knew that we could offer our customers the same service as they were trying to get themselves – to a higher income and to a lower cost. By building a professional team of experts with knowledge in different areas relevant to the holiday village and by being able to buy in big quantities the rental guarantee was not only a good business model, but it also ensured a higher quality and a better standard across our projects. As a result, we could have customers moving into the apartment while the owners were away, our retail spaces and restaurants became more busy and our owners could be ensured that their apartment was well taken care of.

Shared infrastructure: The Holiday Village

The New Nordic Group’s vision has always been to build communities. It started as a part of our plan to ensure that the customers and owners would have everything they needed at the door step – while still not keeping them from exploring other parts of the local community as in many all-inclusive resorts. Later we realized that this further saved us for expenses in terms of the facilities and services in each building, without compromising on our offers to the owners. We never build a stand alone project, but create holiday villages with a wide range of swimming pools, shops, restaurants, conference rooms, transport services, travel agency, and more – and as an owner you have the right to use these facilities in all buildings in the resort, while you at the same time accept that all other owners and customers have the same rights. Thus, we can offer more tpour owners more and at the very same time save on the costs of building and operation. This makes is more interesting for both parties!


Retail and F&B: Increased revenue for the New Nordic Group

In our projects, the New Nordic Group keeps approximately 30% of the units within the company. This is because all our holiday villages are planned out with several shops, retail spaces, offices and restaurants – as well as rooms that we keep for ourselves in our rental pool. As a guest this gives you the opportunity to use our laundry or a self service coin laundry just across the street, an IT room if you need to make some emails, the choice of having breakfast at one of our many restaurants if you are not bothered cooking yourself in the morning or join in on our events. This creates a lively community, and nothing makes us happier than hearing that this is a “home away from home” for our residents. Then we have really accomplished what we wanted! It also gives us the opportunity to increase our revenue in our restaurant and retail divisions.

The basics: Good for us – good for you!

The New Nordic Group has developed immensely since our VIP 1 and Suites 1 buildings, but our focus still remains the same. Our core business is to develop projects and offer holiday homes for people and investors from all over the world. The apartment itself and ensuring that it is good quality and a fully furnished home will always be a priority. Further, we strive to ensure that our holiday villages are not only nice communities to stay in, but can offer good incentives for our customers and a good business model for the Group. Since 2009 we have taken pride in handing over the keys to happy owners and ensured that our owners have received the rental guarantee on time according to their contracts, and with the development of more projects and holiday villages these core ideas will remain the same.

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