Denis Minko
General Manager
10% yearly Rental income warranty for 10 years

Posted in Pattaya Real Estate Market on 17 April 2016

In a rare interview, Kurt Svendheim, the owner, founder and managing director of the New Nordic Group, which is located in Pattaya Beach, Thailand, answered some very direct questions regarding the trustworthiness of New Nordic’s 10% investment guarantee program.

The natural reaction of a potential investor to a property developer who’s making, what on the surface appear to be outlandish promises, whilst attempting to coerce them to sign on the dotted line and then hand over a substantial check, is usually one of distrust. Just as the veracity of the claim, “This vehicle was only driven to church and back by a little old lady,” as made by a desperate used car salesmen should be called into question, so too should the promise of a ten percent guaranteed return on any real estate investment.

In today’s challenging economic times, when the average earner is working overtime just to make ends meet, an investment of any type must be given very close scrutiny. But when an investment, such as one of the real estate variety, which places a sizeable portion of your entire life’s savings on the line, each one of the so called guarantees and or promises made by the developer must verified, checked and double then checked.

The importance of doing so is even more essential if that property investment is going to be made in a foreign nation like Thailand, whose legal requirements may differ vastly from those of your native country. Add to that the fact that real estate sales and investment returns have pretty much flat lined across the globe, and that quite a few developers have disappeared in the recent past with their client’s money, one needs to be absolutely sure of the honesty and integrity of the developer with whom they are planning to invest, regardless of the pledges, assurances and promise they have made.

In this regard, New Nordic’s past, present and ongoing success is proof positive that they are doing more than just a few things right. Since New Nordic was founded by Kurt Svendheim, New Nordic has single handedly transformed more square feet of real estate in the prestigious Pratumnak Hill area of Pattaya Beach than any other property developer in Thailand. Currently New Nordic has:

  • Successfully completed thirty-six completed projects.
  • Anywhere from twelve to sixteen projects either under construction or in various stages of planning on the go at any one time.
  • Numerous condo/hotels, one shopping mall, two castles, and one palace among others in progress at the time this article was written.
  • Is scheduled to fully complete at least one building per month for the next two years.
  • Is making plans to break ground on projects in Thailand outside of the greater Pattaya area.
  • No plans of either slowing down or resting on its laurels.

When asked about what it is that makes New Nordic more trustworthy than other property developers making a similar promise, Kurt Svendheim quietly stated that, “You get the title.” After repeating the question, he had to explain to me that unlike New Nordic, some property developers merely provide their clients with either shares in their company or a long term lease with their name written on it after money had changed hands. If that developer goes broke, the shares or long term lease become worthless scraps of paper. However, New Nordic, after the property has been paid for in full, provides each of its investors with the title to the property he or she had purchased. In other words, that property is now 100% legally theirs. Whether New Nordic remains in business or does not, there is nothing preventing them from either living in the property or selling it. Or they can use it to take part in New Nordic’s 10% annual return investment program.

When the questions of what assurances do investor’s have that New Nordic will not collapse or that you will not skip out of town with their money was raised, Kurt responded, “I’m not going anywhere. Everything here is important to me.” Upon further inquiry, I was told that Mr. Svendheim owns several houses as well as a number of vehicles whose value runs into millions of baht. All of these physical assets and possessions tie him to Pattaya Beach, Thailand. In addition, just about his entire family has relocated from Norway to Thailand. In fact, his daughter Anita Svendheim has only just recently began working for New Nordic as a marketing manager. In short, there is just too much at risk, including the security and well being of Mr. Svendheim’s own family, for him or New Nordic to engage in unethical business practices in order to turn a quick profit.

Kurt Svendheim and New Nordic are in business for the long haul. Nearly a decade ago, Kurt had a vision. That vision is now only partially complete. He and New Nordic want nothing more than to see that vision come to life. That is why going forward; New Nordic will employ the same business principles that led to New Nordic’s success … Those of honesty, integrity, delivering a quality product and making good on all of the promises made to its all of its past present and future clients and investors.


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