To meet the rising foreign demand for Phuket real estate and capitalize on the booming tourism, the mixed-use development has elevated its strategic partnership roadmap following the significant success of its Luxury Branded Residences including Twinpalms Residences MontAzure, and the luxury MGallery Residences MontAzure
PHUKET, 15 September 2023 – Nestled on the pristine Kamala Beach in Phuket, MontAzure aims to set a new benchmark as the 'Ultimate Beachfront Community in Thailand and Asia' with a 15-billion-baht investment. Spanning 178 acres (454-rai), the community seamlessly integrates freehold luxury residences, 5-star hotels, beach clubs, Michelin-starred restaurants, and world-class leisure amenities, all meticulously designed by top Thai and global experts. Notable in its portfolio are the highly successful 73-unit Twinpalms Residences MontAzure, with only one last penthouse unit remaining, and the luxury MGallery Residences MontAzure, which have already sold over half of their units.
Following the success of these two projects, MontAzure is embarking on a new partnership to further expand its offerings, including super luxury villas. This move underscores its commitment to becoming ‘The Ultimate Beachfront Community’, while creating a destination within a destination. With demand booming, especially from foreign investors including Asian, European and Russians, Phuket’s real estate horizon looks promising, echoing global patterns from cosmopolitan cities worldwide.
The driving force behind MontAzure's meteoric rise is the formidable alliance, a joint venture, of The Narai Group (Thailand), ARCH Capital (Hong Kong), and Philean Capital (Singapore) from Pontiac Land Group. Their synergy has birthed an unrivalled enclave complete with luxury condos, a premium five-star hotel, upscale villas, diverse hotel and retail experiences, and trendsetting beach clubs. This prime, mixed-use residential development has the Kamala Beach as its coastline.
Mr. Setthaphol Boottho, MontAzure’s Executive Director, exudes confidence as he shares his vision for the upscale, luxurious project, "Our journey reflects Phuket’s dynamic tourism and investment landscape. Our vision remains steadfast: to craft an unparalleled beachfront experience. With a prime location on Kamala beach, MontAzure has become a benchmark for excellence in luxury mixed-use communities in Thailand. Our plans involve looking for partners to further develop quality real estate in the MontAzure empire.”
MGallery Residences MontAzure scales the Luxury Ladder
With Accor's reclassification of MGallery to 'luxury,' the project's prestige has significantly risen. Owners will benefit from a trusted global brand, assured property value, and meticulous maintenance safeguarding property value. MGallery offers top-tier Care Services and optional concierge support, elevating the living experience. Residents can also join Accor's exclusive benefit programs, the highly coveted Diamond Level of Le Club AccorHotels, gaining VVIP status and a range of perks like priority reservations and room upgrades. These upgrades have positively impacted the MGallery Residences MontAzure project, which is already under construction and set for completion next year.
The appeal of MGallery Residences lies in its boutique living spaces, enriched by captivating designs that seamlessly weave local culture and history with modernity. Each residence presents a distinct, locally-anchored narrative, embraced by the lakeside and lush greenery. Tailored services ensure a lifestyle of uncompromised luxury. Additionally, the renowned amenities of MGallery hotel, from fine dining to rejuvenating spa experiences, add to the allure of investing in this property.
Last Penthouse unit available at Twinpalms Residences MontAzure
With 100 meters of direct access to the stunning Kamala beach, Twinpalms Residences MontAzure offers world-class amenities, and 5-star service tailored to the luxury market. Common facilities include a lap pool, beachfront swimming pool, beach lounge, spa, gym & yoga studio, library, and more. Twinpalms Residences MontAzure, features 73 one- and two-bedroom units, including penthouses with breathtaking Andaman Sea views. Designed by Martin Palleros of Tierra Design, the project garnered strong interest from both Thai and international investors, with only a single unit remaining – a penthouse featuring a private garden and pool.
The trust that travelers place in Twinpalms Residences MontAzure is evident, attributed to the project's strengths in terms of prime location, outstanding design, world-class amenities, and 5-star service tailored to the luxury market. Owners have the flexibility to stay during their desired periods and can also benefit from the management of the associated hotel. Their freehold and secure leasehold ownership promise potential capital gains bolstered by hotel-driven rental returns.
Growing global appetite for branded residences
Fueled by rising global affluence and increased mobility, the luxury home market in Phuket is poised for significant growth, particularly in branded residences. The population of ultra-high-net-worth individuals (UHNWIs) is projected to increase by 28.5% between 2022 and 2027, largely driven by countries such as the US, China, Canada, Australia, India, Germany, and the UK. In fact, 17% of UHNWIs purchased homes in 2022, and 15% are considering branded residences in 2023. The Asia-Pacific region is becoming a hotspot, hosting 20% of the world's branded residences and expecting further expansion. This growing demand for second homes and branded residences aligns with UHNWIs' desire for portfolio diversification and the allure of exceptional amenities, architecture, and coveted locations. Additionally, global travel is anticipated to exceed pre-pandemic levels by 31% by 2027, particularly in regions like Africa, the Middle East, and Asia, further fueling the demand for luxury properties in prime tourist destinations like Phuket.
Phuket stands out as Thailand's premier tourist hub post-Covid, benefiting from a diverse influx of foreign investment, notably from Russians and Europeans. As of early 2023, beachfront land in Phuket is valued at 70 million baht per rai, while other areas range from 30-40 million baht. Prime locations like Patong, Kamala, Kata, and Karon are mostly developed, heavily populated by hotels and condos.
MontAzure’s Vision for Phuket
The luxury real estate market in Phuket is a magnet for global investors interested in second homes, vacation properties, or investment opportunities. Tourism is on a resurgence path, heading to its pre-pandemic vibrancy by 2024, thanks to targeted marketing towards nations like China, Russia, and India, among others. A new Free Visa policy targeting Chinese and Indian tourists will likely bolster this trend. Factors like the Russo-Ukrainian conflict have shifted real estate trends, with a notable number of Russians investing in Thai properties for safety and the allure of the local climate and cost-friendly living. The post-pandemic reopening has seen a surge in foreign property buyers. In Phuket, Russian influence is undeniable, especially in the luxury villa sector, registering the highest sales in 2022 in five years. Asof early 2023, both Russian and American investors have been experiencing a noticeable increase in their purchasing power. Remarkably, Russian visits to Thailand soared tenfold in the first half of 2023, causing a 338% increase in Phuket's luxury villa sales, with Russians accounting for half. Although the Chinese were once the primary tourists in Phuket, Russians have now taken the lead. The significant investments of Russian elites in Thailand's property market are evident.
MontAzure has partnered with Botanica Luxury Phuket Co., Ltd. Together, these two esteemed Phuket property experts are developing unique ocean-view luxury villas distinguished by their design and decoration. The project will offer 36 units, with starting prices ranging between 49 million and 170 million baht – total project value surpassing 2.6 billion baht. Construction of the Show Villa unit is scheduled to commence in early 2024, and the entire project is expected to be completed within the next three years. This is in response to the rising demand from both international and Thai customers for second homes, vacation properties, or investment opportunities in Phuket.
Mr. Attasit Intarachooti, CEO, Botanica Luxury Phuket Co., Ltd. said, "We are thrilled and honored to join forces with MontAzure. The breathtaking ocean view, located merely 400 meters from the Kamala beachfront, combined with the picturesque foothill landscape of Botanica MontAzure, sets it apart from other locations. We envision this project as a flagship endeavor for Botanica, one that will be recognized by all."
Within this ever-evolving landscape, properties are not just homes but profitable ventures reminiscent of global hubs like London, and Hong Kong. MontAzure’s core vision remains unchanged – forging a sustainable and unmatched beachfront habitat – a haven of luxurious residences, state-of-the-art hotels, trendy beach lounges, gourmet eateries, and exquisite pool villas. Notable establishments within this haven currently include Twinpalms MontAzure Hotel, InterContinental Phuket Resort, Café del Mar, Shimmer Beach Lounge, and 333 At the Beach, a gourmet sea-to-table restaurant. MontAzure plans to introduce many more exciting and visionary projects in the near future.
MontAzure endeavors to blend sustainability with cultural reverence, amplifying the island's west coast charm. Every MontAzure project brings together top planners, architects, and designers to showcase the prime beauty of the west coast of Phuket, capturing its green mountains, azure skies, and pristine white beaches. MontAzure Phuket stands as the epitome of the dream Asian destination. The core principle revolves around partnering with robust, world-class brands to position MontAzure as “The Ultimate Beachfront Community in Thailand and Asia.”