MontAzure Phuket joins forces with its global partner Accor in the high-demand branded residences market
Bangkok, 12 October 2022 - MontAzure Phuket, along with its global partner Accor is tapping into the high-demand branded residences market with MGallery Residences MontAzure. This first MGallery Residences in Thailand, situated on Kamala Beach on Phuket's famous sunset coast, is witnessing an increased demand from Thai and Asian investors.
The mixed-use development, MontAzure, is a joint venture between The Narai Group (Thailand), ARCH Capital (Hong Kong) and Philean Capital (Singapore), part of Pontiac Land Group. The development, aimed at permanent and second home buyers, spans 178 acres (72 hectares) of mountainside to beachfront land and includes exclusive beachfront and resort condominiums, a five-star hotel, high-end villas, a range of hotel and retail offerings, a retirement community, and a choice of upscale beach clubs. This prime, mixed-use residential development with Kamala Beach as its beachfront has a unique natural setting that is being developed with great care.
Mr. Jonathan Umali, Managing Director, Arch Capital & Executive Director MontAzure, highlighting the rising demand in the Branded Residences market in Asia, said, "Investor appetite to invest in Phuket is rising. MontAzure's business strategy is to partner with global partners that enhance the property's long-term value for the owner. The investors and partners who came together to invest in this real estate and luxury lifestyle project saw the location's potential. Q4 for MontAzure is focused on progressive construction. Next year, we plan to launch more residential projects with leading partners to develop quality real estate projects for their investment value."
“MontAzure has set a new benchmark as one of the most complete mixed-use communities in Thailand on a prime location, on Kamala Beach. Our plans involve looking for partners to develop quality real estate in the MontAzure empire with approximately 30% of the area remaining,” he added.
Underlining the growth in the global Branded Residences market, Mr. Umali elaborated, “The global Branded Residences market is undoubtedly seeing sustained growth. A third of these Branded Residences are in Asia: the number currently stands at 79 developments, with 16,130 new units coming into supply by 2025. This sector is maturing into a Grade A real estate asset class – Thailand represents 29% of the incoming supply, followed by the Philippines and Vietnam.”
Designed by architects at SODA (Thailand) Ltd, with stunning landscaping by Shma Company Limited, MGallery Residences MontAzure boasts excellent potential in offering a unique resort experience on the stunning island of Phuket. With the densely forested foothills as its backdrop, the residences provide easy access to an exclusive range of MontAzure offerings. Facilities include leisure and lap pools, a kids pool and play area, a pool bar, a clubhouse and lobby lounge, a fitness and yoga platform, an all-day dining restaurant, a green deck, a starlight deck, a relaxation pavilion, a nature trail and a jogging track.
Enhancing the luxury experience for residents is the powerful loyalty programme from both MontAzure and Accor: a MontAzure Membership Card and Diamond status within Accor’s loyalty programme, ALL – Accor Live Limitless, as part of the Accor Ownership Benefits programme. Resident owners will unlock a range of benefits at Accor’s global collection of hotels and resorts, such as a dedicated VIP reservations desk, automatic upgrades across more than 5,300 hotels, and special discounts at participating Accor properties, including MGallery.
Accor and MontAzure have combined their unique strengths for MGallery Residences MontAzure in response to the rapidly changing trends in the branded residential market. The pandemic has also created a new community of buyers: like-minded investors connected by similar interests and lifestyles rather than traditional demographics based on age, nationality and occupation.
Accor, a world-leading hospitality group, has established itself as a global leader within the branded residences sector. The group currently operates 35 branded residences worldwide and is developing 80+ projects bringing unrivalled industry expertise to the development of branded private residences. Along with its iconic brands, Accor brings its legendary service to private home ownership, thus providing development partners with a tremendous value creation opportunity.
“Luxury residential properties in prime locations and resort destinations are natural extensions of our iconic hotel brands,” said Ms. Catherine Chan, VP of Mixed-Use, Asia Pacific and Global Brand Advisory Lead of Accor. Expanding on the business strategy and the direction that Accor is taking in the Hotel Branded Residences market, Ms Chan added, “The purchase of a branded residence within our residences portfolio is truly the ultimate expression of loyalty. At MGallery Residences MontAzure, homeowners are invited into the exclusive Accor Ownership Benefits Program, ensuring they are treated as the ultimate VIPs while at MontAzure and wherever they travel among Accor’s global portfolio.”
Regarding the impact of COVID-19, Mr. Setthaphol Boottho, Executive Director of MontAzure, emphasised that despite Thailand’s shaky economy and the economic impact of COVID-19, the branded residence sector has seen robust sales with investors putting their faith in hotel-branded residences. Mr Boottho elaborated, “Real estate investors in Phuket are focused on land prices that increased by an average of 10.5% per year over the past 17 years. This rapid increase underlines the strength of the Phuket Real estate market. Meanwhile, High-Net-Worth Individuals (HNWI) tend to invest in branded residences as they are focused on promising profitability in the long run of branded residences. These high-end property buyers demand quality residences in prime locations with iconic designs, outstanding services, and world-class facilities. Exactly what we at MontAzure and Accor strive to achieve.”
Mr Boottho added, “The trend also underlines the investors’ loyalty towards high-end brands they trust and their belief in the potential of prime locations. In 2019, MontAzure decided to launch the first MGallery in Thailand. Today, we see an increased demand for branded residences returning after the pandemic. This project is currently under construction and is expected to be completed by 2024, making it the first MGallery branded residence in Thailand.”
Accor is a world-leading hospitality group comprising 5,300 properties and 10,000 food and beverage venues throughout 110 countries. The group has one of the industry’s most diverse and fully-integrated hospitality ecosystems encompassing more than 40 luxury, premium, midscale and economy hotel brands, entertainment and nightlife venues, restaurants and bars, branded private residences, shared accommodation properties, concierge services, co-working spaces and more. Accor’s unmatched position in lifestyle hospitality – one of the fastest-growing categories in the industry – is led by Ennismore, a joint venture in which Accor holds a majority shareholding. Ennismore is a creative hospitality company with a global collective of entrepreneurial and founder-built brands with purpose at their heart. Accor boasts an unrivalled portfolio of distinctive brands and more than 230,000 team members worldwide. Members benefit from the company’s comprehensive loyalty programme – ALL - Accor Live Limitless – a daily lifestyle companion that provides access to a wide variety of rewards, services and experiences. Through its global sustainability commitments (such as achieving Net Zero Carbon emissions by 2050, global elimination of single-use plastics in its hotels, guest experiences, etc.), Accor Solidarity, RiiSE and ALL Heartist Fund initiatives, the Group is focused on driving positive action through business ethics, responsible tourism, environmental sustainability, community engagement, diversity and inclusivity. Founded in 1967, Accor SA is headquartered in France and publicly listed on the Euronext Paris Stock Exchange (ISIN code: FR0000120404) and on the OTC Market (Ticker: ACCYY) in the United States. For more information, visit group.accor.com, or follow Accor on Twitter, Facebook, LinkedIn, and Instagram.