A new Kamala project named CityGate with 398 units is coming into the Phuket real estate market.
Set on just over 5 rai, the project has five 8 story blocks.
The buildings have been named Bangkok, Dubai, New York, Paris and London.
A leaseback rental guarantee program of 7% for five years is being offered.
Two unit types are offered with 35 square meter Jacuzzi units and a similar footprint for kitchen types.
The top floor has an infinity edged pool and rooftop bar/restaurant.
Development is by the same group who has done Icon Park, The Trees and Zen Space.
Phuket continues to see a surge of hospitality managed residences which are increasingly becoming a strong competitor to the traditional hotel supply chain.
New 398 Unit Kamala Condo In Pipeline
A new Kamala project named Citygate with 398 units is coming into the Phuket real estate market.
Set on just over 5 rai, the project has five 8 story blocks.
The buildings have been named Bangkok, Dubai, New York, Paris and London.
A leaseback guarantee program of 7% for five years is being offered.
Two unit types are offered with 35 square meter Jacuzzi units and a similar footprint for kitchen types.
The top floor has an infinity edged pool and rooftop bar/restaurant.
Development is by the same group who has done Icon Park, The Trees and Zen Space.
Phuket continues to see a surge of hospitality managed residences which are increasingly becoming a strong competitor to the traditional hotel supply chain.
The decision by the government to develop U-Tapao as a third gateway for Greater Bangkok should be a strong boost for the Eastern Seaboard.
Airlift is a dynamic driver of demand as the current malaise in Pattaya's real estate sector with Eastern European property buyers gone missing in action, the longer term development is good news.
U-Tapao will see an extensive upgrading of its existing facility and development of a new passenger terminal.
A new highway link is also in the works.
The mid-term goal of the airport is five million annual passengers.
For Phuket there remains a shroud over any longer term plans for a second airport in Phang Nga to relieve the current island airlift challenges.
One of the Philippines fastest growing real estate developers Century Properties has inked a deal with AccorHotels for a 310-unit all suite Novotel in Makati.
The property contains three components being hotel units, full ownership residences and fractional properties.
C9 Hotelworks acted as a hospitality and residential adviser on the property for Century.
Fractional sales are expected to be targeted at the OFW (Overseas Filipino Workers) market which continues to be liquid and growing in size.
I've just returned from Colombo Sri Lanka where the property trade is buzzing over news that the Shangri-La mixed use project The Residences at One Galle Face has seen overwhelming demand.
In the first month since launching over 100 units have been reserved.
With apartment configurations of two, three and four bedrooms, pricing ranges from USD700,000 to USD1.5 million.
Pricing per square meter is in excess of USD5,000 which is far above the market average.
The prime project has 406 units with two fifty story towers and is adjacent to a hotel and commercial complex.
Sales are being made directly via the developer's in-house team.
Last week Asia's real estate sector was boosted on news that Indonesia is close to closing our a new foreign ownership guidelines that would enable foreigners to own upscale apartments valued at USD375,000 and above.
One caveat of the move could be a restricted term of thirty years.
That said Thailand's leasehold model currently allows for a thirty year term subject to renewals.
While the country's present government regime has yet to introduce any new initiatives on foreign property ownership, Thailand's freehold condominium regime which provides for overseas ownership and structured leasehold arrangements are still viewed in many ASEAN countries as amongst the regions most favorable.
Press reports have Bali's Nirwana Golf Club and Resort and the Lido Golf Club in Greater Jakarta set to be branded to Trump International.
In Bali the Greg Norman course will be re-configured and the resort substantially redone. There is no word on the fate of hotel operator Pan Pacific in the new projects.
It's expected Trump being a real estate led brand will bring the opportunity to both courses and the Bali resort to unlock real estate sales.
A game-changing initiative is being put into place in Vietnam allow foreign entities to own 100% of the shares in companies.
This is an increase from the 49% cap currently in place.
It's expected this move will be a large-scale spur of activity in the Foreign Direct Investment (FDI) sector.
Thailand are you listening, as nearby ASEAN countries such as Vietnam and Indonesia are liberalizing their economies to spur growth?
Four G's and Europe is on the thin edge of an economic crisis, pending what the Greeks will do about their upcoming debt repayment?
Is a Grexit possible? If Greece were to exit the EU, the possibility of a widespread monetary pandemic across the globe remains very real.
For now its wait, watch and listen.
No typos in Grexit as its all Greek to me.
A Mercedes Benz branded café has opened in Bangkok.
Located on the first floor of the Emporium Shopping Center, German food and beverage are featured.
No doubt the brand target has its own demographic in the affluent more conservative consumer set.
This decades brand conscious mantra seems to be pushing out in every direction and one has to wonder if fatigue is starting to set in.
Still who can say no to a tasty black forest ham?
As Phuket waits for its own convention center, other regional resort destinations are moving ahead to attract the MICE segment.
In Cebu Philippines the SMX Convention Center is slated to open in 2017.
Currently under planning the final project configuration and sizing are in process and construction is expected to commence in Q3 this year.
Developed by the high-flying SM Group, the prototype of the project is expected to follow the successful Manila Mall of Asia concept.
