Wonder if Phuket still has the drawing power for the rich and famous of the ultra villa set?
A check at the thirteen villa Andara Signature project has 5 sales with another two offers on the board after just six months.
It's not cheap living on Kamala's Millionaires Mile with prices at "AS" commanding a breathtaking USD6.6 to 8.2 million.
The Zeman-effect is still lingering at the original Andara estate with 5 resale's in the past two years, and resulting capital appreciation up over 30% per annum.
Daniel Meury is reporting growth in villa rentals with pooled returns up considerably higher than a year ago.
Meanwhile Andara Signature is set to rise out of the ground, funded by Zeman, rain, shine, sales or not.
One of the fastest growing groups in the region Anantara have taken this vacation ownership group on the road, with an expansion to Bali.
The group recently acquired an existing 18-villa resort in Seminyak with one, two and three bedroom units.
After an upgrade, which will continue through the year, the new Anantara Vacation Club will be formally rebranded.
With an existing inventory of units in Phuket and Samui, as well as new purpose build club in Mai Khao opening within the year the group is continuing to expand.
The trend of hotel groups moving into the sector looks to be gaining momentum as evidences by Anantara's stretch into it's Club Escape use program at the chains group of hotels and resorts.
Vacation ownership brand Absolute World has promoted Mike Hall to the position of Managing Director Asia Pacific.
He's been a key force in setting up the recent high-end yacht fractional product for the group .
As Absolute expand into new markets such as Bali, Hall has been tasked to drive the company's operations.
Listed development firm Sansiri is continuing its aggressive development drive in Phuket with the new 311 unit condominium project called the BASE Downtown.
Located across the street from Central Festival behind the Thainaan restaurant units are configured into one and two bedrooms.
Pricing starts at THB1.9 million with presales slated from June 29th to July 1st.
The BASE is aimed at a higher level of purchaser than Sansiri's dCondo project, which have been wildly successful in the market.
Billionaire Larry Ellison of Oracle has bought one of the Hawaiian islands.
Press reports are rife with the story; the he has acquired 98% of the island of Lanai, with the US state owning the remaining 2%.
According to Forbes Ellison has a net worth of over USD36 billon and is the third richest person in the US.
Market sources are reporting the transaction was over USD500 million.
While Bangkok is flush with swank urban shopping malls with the gauntlet of retail running all the way to the earthy Chatuchak market.
Now a new riverfront destination on the banks of the Chao Phraya waterway is offering something a little different.
Set on 72 rai Asiatique The Riverfront has some 1500 shops, nearly 50 restaurants and a themed play area.
Developed by Thai listed firm TCC Land the project is aimed at a pedestrian friendly experience that goes walk about.
The Bangtao private residence project Club Lersuang will change name to Baan Puri starting July 1st.
Based on a translation the new moniker means 'Our Home, Our Place'.
Managed by leading property firm Jones Lang LaSalle (Thailand), the development is popular for resort vacation rentals.
In a significant improvement to the country's financial sector, the introduction of REIT's (Real Estate Investment Trusts) this month is a much-needed alignment to international practices.
Under the previous regime property funds have continued to enter the market but many of these are expected to convert to REIT status going forward.
Limitations on the existing property funds have been an inability to invest abroad and considerably higher leveraging (from the existing 10% up to 60%) which will be a boom for gearing up investment returns.
REIT's are commonly used in global markets and attract considerably more attention from institutional grade investors.
One thing for businesses considering to launch REIT's is that these are structured primarily on recurring rents and required a sophisticated level of planning and structuring to take place.
News is in that real estate show MIPM Asia have opened up their sixth installed of their annual awards ahead of the November conference in Hong Kong.
For Phuket developers some key categories are – Best mixed-use development and Best residential development.
New entrants this year include Best retail and leisure development, Best innovative green building and Best future mega project.
Not that sure how you define "Futura" but certainly its worth dragging out the crystal ball.
The award will be held at the Grand Hyatt Hong Kong on November 8th in conjunction with MIPM Asia which will run from November 7th to 9th.
For more <link>http://www.mipim.com*CLICK</link>
