Phuket raises the bar

A new project graces the shores of Phuket with record breaking price tags.

There is good reason why Thailand is a much loved holiday retreat for people all across the world. The weather, scenery, food and warm welcome all play a huge part in this. Increasing numbers of expatriates based in Singapore, Hong Kong and China snap up their own piece of paradise in Thailand to escape to.

Developers are astute to the attention Thailand gets and next month a new project on Phuket part of MontAzure is to be launched that is valued at a staggering THB 700 million. This joint venture is a collaboration of investors from Thailand, Hong Kong and Singapore and Kamala Beach Resort & Hotel Management Company.

The 10 villas of this project come with price tags starting from THB 350 million making these the most expensive villas in Thailand. Alongside the villas there will be a condominium named Twinpalms Residences, consisting of 75 units ranging between THB 8 and 93 million. Interest in this project has already in full swing as 41 of these units are already sold.

The whole project is situated on huge 75-rai land plot spanning the hillside of Kamala. In addition to the luxury villas and condominium, the site will also be home to an InterContinental Hotel, a sister branch of the famous club in Ibiza called Cafe del Mar, a mall and also Bangkok Hospital.

Due to be completed in 2017, this new project is expected to set aside from anything else on the market. Creating a new hub on Thailand’s biggest island, the conception to building of this project illustrates not only the strength of the market but also the demand for high end properties as Thailand continues to lure people in.