|
|
| • EXCH RATES |
|
Baht/$ 33.51/56
Bid/Ask
|
GOLD |
14,350
+ 350
|
|
PROPERTY
Phuket developer confident of returns
SOMPORN THAPANACHAI
Surin Hill Development, a luxury property developer in Phuket, has launched a new project, the two-billion-baht Baan Thai Layan, targeting serious investors with at least 100 million baht.
Baan Thai Layan will be built in eight phases on 25-rai plot in Layan, a residential and tourist area on Phuket's west coast. The first phase, worth 100 million baht, will have seven duplex units of 100 square metres each and seven studios at 50 sq m with construction planned to start in August.
The company said the investment for its other phases would range between 100 million and 400 million baht. The second phase will have 16 units while the third phase would offer villas.
 |
| The first phase of Baan Thai Layan will have seven duplex units of 100 square metres each and seven studios at 50 sq m. |
Wanwipa Horbut, the company's deputy managing director, said the Phuket property market was different from other locations in Thailand and still held strong potential as a destination for international and local investors, holiday home buyers and holiday makers.
''We are not selling individual units. The project will focus on investors who are looking to invest in a property project for a healthy rental return, or a resale premium in the future,'' Ms Wanwipa added.
Based on her experience, she anticipates that resale values would gain at least 15% as owners can sell units separately after the construction is completed. The whole project is scheduled to take three years to finish.
Ms Wanwipa said the company would control the concept of each phase so that all phases would be offered as a complete package with full design and construction until the completion.
Buyers can discuss with the company whether they want to rent out units or they can hire other property management firms on the island. The company already has a database of prospective investors and plans to hold roadshows in Hong Kong, Singapore and Middle East.
On the same site, the company still has another 25 rai that have not yet been allocated for the development.
Prior to this project, Surin Hills sold its earlier condominium, The Quarter, for more than 300 million baht to a French investor. The project comprises 20 units of one- to three-bedroom units on Surin Hill.
Surin Hill Development has been in the real estate business in Phuket for about 10 years with the focus in delivering quality units. The total value of its earlier projects is around two billion baht.
Prev
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
Next
