Groundbreaking branded freehold condominiums on Kamala beach will showcase at the Dot Property Show in Bangkok’s upscale Siam Paragon from June 30th to July 3rd.
BANGKOK, THAILAND With almost 50% of the project already sold off-plan, a large percentage of that selling to domestic buyers, the launch of Twinpalms Residences MontAzure is influencing Thai investors’ perception of Phuket’s luxury property market.
Construction began at the project site on June 15 when acclaimed Thai contractors SEAFCO started piling work following Environmental Impact Assessment (EIA) approval. Once completed in 2018, the development will house 75 resort residences and an upscale beach club over looking 100 metres of soft, sand beach.
Twinpalms Residences MontAzure offers Thai buyers a solid opportunity for healthy returns and high rental yields. This is backed up by the proven track record of the project’s developers and the impressive reputation of the resort brand chosen to manage and rent the condominiums.The development also occupies one of the last remaining prime beachfront locations on Phuket.
“This is the first luxury beachfront condominium on Phuket to generate such a high level of confidence among Thai investors,” said MontAzure Executive Director Setthaphol Boottho. “Buyers have a choice of one and two-bedroom units ranging from THB 10.9 million to THB 93 million, which is a very attractive price in such a prestigious water front location. Favourable payment terms and financing area vailable to local buyers and early demand for the units has been high, especially fromBangkok based investors looking for safe investments with attractive returns.”
MontAzure is a joint venture between three of the most notable property and hotel investment groups in Asia:ARCH Capital Management (Hong Kong & Shanghai), The Narai Group (Thailand), and Philean Capital (Singapore) part of Pontiac Land Group. This powerful consortium of experience and reputation translates into an uncompromising commitment to quality.
“Building a resort residence to the highest international standards obviously presents challenges, especially when it is in a tropical island location,” said Narong Thasnanipan, SEAFCO CEO and President.“Our combined knowledge and expertise puts us in a unique position to exceed investor expectations and also to create an outstanding new landmark development for Phuket,” he added.
Such assurances can only come from developers with a proven track record and the same applies with regard to buyer confidence in the destination. Phuket’s established position as Thailand’s leading resort island gives it the necessary credentials to attract buyers from around the country, as well as around the world.
Jainchai Limvattanakul, Managing Director of Narai Propertysaid:“Factors such as the expansion of Phuket International Airport and upgrading of its highway bolster the island’s reputation as a stable investment proposition. With rental yields as high as 6% on properties built by established, reputable developers, the Phuket market offers Thai investors an attractiveaddition to Bangkok as a secure, growing market with impressive returns.”