PHUKET: A two billion baht condo property development on a secluded headland south of Patong is to be transformed into a condo and villa resort, Amari CEO and President Yuttachai Charanachitta revealed this week.
Sales of the condos off the plan were not moving fast enough, he said, so a decision had been made to revise the project by adding 43 villas, with prices expected to range from 27 to 50 million baht.
Construction has yet to begin.
Amari, part of the Onyx Hospitality group, has had a strong presence at the south end of Patong for decades with the Amari Coral Beach Resort.
The new development, announced in February, comes on a stretch of pristine clifftop real estate that has lain untouched behind the existing Amari resort.
Property experts remain hopeful that Thailand's new government will provide stability and entice international buyers back to the island in numbers. The condo market, which has greater appeal to Thais, is in oversupply.
Amari also has a large land holding in Krabi and the Baan Krating brand on Phuket and in Khao Lak. In February, Amari executives suggested a low-rise boutique resort, with boat-only access, could be the outcome at the Phuket Baan Krating, tucked close to Phuket's Nai Harn beach.
Sales of the condos off the plan were not moving fast enough, he said, so a decision had been made to revise the project by adding 43 villas, with prices expected to range from 27 to 50 million baht.
Construction has yet to begin.
Amari, part of the Onyx Hospitality group, has had a strong presence at the south end of Patong for decades with the Amari Coral Beach Resort.
The new development, announced in February, comes on a stretch of pristine clifftop real estate that has lain untouched behind the existing Amari resort.
Property experts remain hopeful that Thailand's new government will provide stability and entice international buyers back to the island in numbers. The condo market, which has greater appeal to Thais, is in oversupply.
Amari also has a large land holding in Krabi and the Baan Krating brand on Phuket and in Khao Lak. In February, Amari executives suggested a low-rise boutique resort, with boat-only access, could be the outcome at the Phuket Baan Krating, tucked close to Phuket's Nai Harn beach.
Sales of the condos off the plan were not moving fast enough, he said
houses or apartments over 2 million baht market for foreign buyers is completely dead!
if you bought an apartment or house it will be difficult to sell it at a profit if you want more then 2 million bath
When foreign can buy land and buildings legally then boom back in Thailand
Many rich families who lose money now..
Check in Kata, Karon, Patong how many apartments and expensive houses that are for sale, madness to buy right now
the only market that going good now is Thai to Thai market!
Posted by Ali on July 31, 2011 11:28