The latest round of Phuket land investigations continue to hit media headlines.
A well known hotel site on the Patong Headland called Freedom Beach seems to have been the rallying point for a series of new Bangkok led probes.
Under the microscope are both raw land parcels and hotel and residential projects that cover the island from the south in Rawai up to Kamala, Patong and Nakalay.
For the most high priced west coast land appears to be the most contentious.
Corruption, flying titles and land grabs on public and national forestry real estate appears to be the common denominator.
I have to admit after being in Phuket over a decade land scandal investigation's tend to make me yawn.
Is this a real effort by the government to rectify abuses or is it a matter of politics aimed at an out of favor Democrat dominated island?
What's unfortunate is the volatility that is created by sensational headlines for foreign investors who often don't' understand the lay of the land.
One step forward or two steps back? The issues under the latest round of scrutiny are not new ones, nor do most local business folk expect them to be resounding or final.
The best advice for the moment is take a 'wait and see approach', and perhaps another cup of coffee to clear the sleep from my eyes.
The 16 villa luxury estate Vertigo has come onto the island's property market.
Developer Johan Hultner who built Villa Zamani in 2010 is behind the project.
With a land and villa package, units range from 3 to 5 bedrooms and priced between THB67 to 78 million.
All units offer panoramic ocean views with a 17 meter infinity pool highlighting each villa.
Two units have been sold and are under construction with another two in the transaction process.
Thai design firm SQA have are acting as project architects.
Land plots range from 750 to 1,100 square meters.
Surin remains one of the highest performing upscale resale property segments in Phuket so interest in this project looks to be a shoe-in.
An interesting read was an International Herald Tribune story quoting brokerage house Savills market research that "one third of central London residences are now investments or holiday houses.
Kicking up the volume in transactions is momentum going into this year's Olympic games. Investor sentiment has also been keyed by a track record of sustained rental yields.
Holiday rentals typically are fully furnished, have Wi-Fi and personal belongings of owners are safely stored award. Commissions average 15% in this segment. One prominent business model mentioned in the piece was a company called One Fine Stay who specialize in the sector.
Viewing comments in the article ongoing yields range from 5-6% in the market but certainly bank financing and a stabilized environment continue to driver property investors to London.
In the aftermath of last year's Bangkok flooding, talk in the property sector has speculated that the country needs a second business city.
As the Eastern Seaboard automobile industry continues to be a key growth sector, more and more businesses are starting to eye Pattaya.
The residential developer Tulip Group looks set to test the market with a new THB2 billion commercial building.
Rising 44 floors the project is looking to tap into what is considered a growing office market.
Phuket continues to lapse on the trend, with the exception of the new multi-story Chalong Concrete office building on the bypass road.
Noted designer of Twinpalms Martin Palleros has been added to the roster of international designers speaking at this Friday night's AMCHAM function titled" Phuket Design Evolution".
He is joining a panel that includes Adrian McCarroll of Original Vision who's latest work is Kata Rocks, along with past projects such as luxury estate Samsara, and Sava. His firm has done the master planning for the 1000 rai Thai Muang project of Hong Kong billionaire Richard Li in Phang Nga.
Also participating is Clint Nagata of Blink Design Group which is the interior designer at the upscale resort Regent Panwa, opening by the middle part of this year. Nagata specializes in hotels and resorts, and Blink has worked with brands including Conrad, Hilton, Jumeriah, Langham Place, Le Méridien, Sheraton, Westin, Jumeirah, Banyan Tree, The Venetian and The Luxury Collection.
Palleros portfolio on the island includes the award winning Twinpalms, Baan Yamu and the ultra residence Villa Mayavee on Kamala's Millionaires Mile. Overseas he is currently working on the upgrading of the Bali Hyatt and past projects include participation in the design teams at the Sukothai Bangkok, Chedi Chiang Mai and Aman New Delhi.
Scott Gorsuch of the Leisure Design Group will be moderating the event which will focus on presentations, and a discussion about the past, present and future of design in Phuket. A forum for questions will be featured with the panel of experts and is an ideal forum for property and hotel developers, hospitality groups, real estate agents, builders and consultants , and those interested in the design landscape that looms on the islands horizon.
The AMCHAM organized event is scheduled for Friday March 9th at Royal Phuket Marina at the function room next to Les Anges. Registration will start at 4:00pm and the workshop will run from 5:00 to 6:30 pm. A networking event will follow. The event is open to the public with a cost of THB100 including drinks.
To sign up, contact Sheree Tanpensuk by email – [email protected], telephone 02-254-1041 ext 212 or visit the website www.amchamthailand.com
Major Development's move into the hospitality sector has been highlighted by the Marrakesh Hua Hin upscale resort condominium project.
With 300 condo units and a 76 room resort the property has demonstrated strong sales in the market place.
Recently the group entered into an agreement with global exchange giant RCI.
RCI currently has more than 160 affiliated properties in Asia.
After almost seven years in the Phuket market, the well known island law firm with a focus on property, Tilleke & Gibbins has closed its Phuket office as of the end of February.
Speaking to Jerrold Kippen of DK Tax and Law, he has said "with notice and with the consent of the T&G Phuket clients, the law firm of Duensing Kippen) will be taking over professional responsibility for virtually all of T&G Phuket's client matters and files. They will be doing so from their Phuket office a short distance from T&G's former office. They are also taking over what was T&G's Phuket Plaza Del Mar, near the entrance to Laguna, for purposes of meeting with clients."
John Howard, former Joint-Venture Partner and Managing Director of T&G's Phuket operations, has joined Duensing Kippen in an "Of Counsel" capacity. It is expected that the new structure will create continuity for existing clients.
Jones Lang LaSalle Thailand have been appointed as sole sales agent of the ocean front Nchantra project in Koh Siray.
The property was developed by TAA & Association which is a leading Phuket architecture and construction company.
Koh Siray is continuing to gain momentum in the market with the opening of the Westin Resort and a new Park Hyatt project in the pipeline.
The country's banner awards the Thailand Property Awards 2012 will hold a party for developers, real estate agents and associated industries at UP Beach Club this coming Friday night March 2nd from 6:30-8:30pm.
UP is located next to Malaiwana at Nai Thon beach and is one great venue to enjoy a Phuket sunset.
Attendees will receive a complimentary copy of the new Best Of Thai Real Estate publication.
Find out more about new categories, share your opinion about the awards with the organizers or just come and network with other real estate players.
No need to wait for your invite as here it is, the event is free so just RSVP to [email protected]
