samui-property

NAPA is the Thai word for sky, an  appropriate name for Koh Samui’s newest oceanfront estate featuring 10 US$1.85-million (Bt61-million) luxury villas with lofty, wide ocean views over the Gulf of Thailand.

Renowned architect Gary Fell from Gfab has combined Thai design elements with modern open-plan living and large freeform pools to create a chic, comfortable mix of ’50s Palm Springs elegance and tropical island hideaway. Perched above Cheong Mon Beach on Koh Samui’s secluded north coast, Napa’s 10 luxury villas sit on large plots of up to 1,600 square meters.

As three- to four-bedroom bachelor pads, corporate retreats or luxury holiday homes, Napa villas showcase large entertainment areas on split levels for maximum views. Interiors are crisp and stylish using local Asian stones and hardwoods with large built-ins and customized furniture.

“Napa is a welcome addition to Indigo’s Luxury 2008 Collection,” says Tom Travers, managing partner of Indigo Real Estate, “and these villas certainly fit our criteria for luxury: great location, world-class architectural design of both inside and outside space, and a well-executed property management solution. We expect these to be very popular because the design/development team for Napa recently completed Samujana (also on Samui), which sold out quickly.”

Napa’s quiet location in Cheongmon gives easy access to the international airport and Chaweng, the island’s main tourist area.

Indigo’s 2008 Luxury Collection also includes five additional developments on Phuket including The Natai, Sava, Istana and Bluepoint condominiums. Indigo real estate enjoys a solid reputation as one of Asia’s leading luxury property specialists offering Asia’s most luxurious beachfront homes, property and private islands.

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AQUARIUS Estate will invest nearly Bt700 million to develop a condominium worth Bt1.2 billion on Sukhumvit Soi 49 in Bangkok after the company has sold out units of its Casavela condominium project on Koh Samui. The Bangkok project will generate income for the company next year, CEO Yongyutt Chaipromprasith said.

Yongyutt said Bt200 million of the investment budget would come from the company’s major shareholders, Bt480 million borrowed from the bank and the rest come from cash flow. Aquarius Estate succeeded in selling out its Bt600-million hotel condominium Casavela Koh Samui in the first half of this year. The project has 32 units, of which 21 were sold to foreign and local investors. The rest of the units are owned by the company.

Aquarius Estate will manage the project as a hotel, giving unit owners a return averaging six percent a year. The company was launched in 2005 and has registered capital of Bt54 million. Its strategy comprises five businesses: property development, project development management, advisory services, agency services and hotel management.

It had a revenue of Bt254 million in 2007, with Bt206 million contributed by Casavela Koh Samui and Bt48 million from project management and agency fees. The company targets a revenue of Bt300 million this year, with Bt207 million coming from Casavela Koh Samui. Aquarius Estate manages 14 property projects worth a combined Bt16.44 billion. The company will also sign three new contracts worth Bt1.5 billion for project management in the second half of this year.

“We have strong confidence in expanding our business growth, although the property market is signaled to grow only slightly this year, because we offer different concepts to meet customer demand,” Yongyutt said. Demand for residential projects close to mass-transit systems is still growing despite the economic slowdown. Home-buyers want to reduce their transport costs and buy condominiums near their workplaces.

According to the company’s research, 41 city condominiums with a total of 14,000 units were launched in the first half of this year. Some 23 projects are grade-C condos costing between Bt50,000 and Bt80,000 per square meter, 14 are priced at between Bt70,000 and Bt100,000 per square meter, three between Bt80,000 and Bt120,000 per square meter and one is priced up to Bt140,000 per square meter.

Demand for property priced between Bt1.5 million and Bt3 million is showing strong growth, Yongyutt said.—

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THE M.B.K. Group, which owns the MBK department store and Pathumwan Princess Hotel in Bangkok, plans to build a Bt1-billion high-end resort and villa in Bophut, Koh Samui, to serve the foreign market. The project, sited on a 100-rai (40-acre) land is currently being designed and studied.

The MBK is leaving no stone unturned, making sure that the land that the project will occupy is properly titled. The project would be undertaken by phase, with the first one slated to start by the latter part of next year. This megaproject is scheduled to be completed in five years.

Suwaet Theerawachirakoon, managing director of the MBK group, disclosed that under its five-year plan, the company will invest at least Bt10 billion on property projects, such as hotels, luxury villas in holiday destinations including Samui, Phuket and Pattaya.

MBK intends to raise some Bt5 billion through corporate bonds to purchase lands in tourist destinations. In Phuket, MBK plans to build a villa resort with a total of 70 rooms as well as 60 luxury houses each with a private swimming pool. The project will be located near a golf course that, together with the villa and housing projects, will sit on a 600-rai (240-acre) land. This multibillion-baht megaproject is projected to start by yearend.

The MBK, according to Mr. Suwaet, views tourism to be still a most viable investment area since, despite the global economic crisis, Thailand remains one of the most attractive and cheapest destinations for millions of tourists.—

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