New Krabi development The Pelican has taken Bangkok by storm with a high profile media, adveristing and sales campaign.
From full page advertisements in the Bangkok Post, to interviews in the national press and a six day showcase at the upscale Siam Paragon Mall, Brand Krabi is everywhere in the market.
Highlighting entry pricing from THB5 million and free trips to the site, it's a clearly taking aim at the domestic property sector.
With 96 condos, 50 villas and a resort of 140 rooms comprising a 40 rai mixued use site. According to an interview the development which launched in March has 30% sales or 29 units (over 7 units a month), and Thai's accounting for 60% of transactions.
Phuket could do well with some similar upscale promotion for it's real estate inventory.
In a bizarre turn of events on the heels of high profile media coverage of Thailand election led planking, a group of Phuket property agent's mass demonstration turned out to be a hoax.
It had been thought that a number of real estate agents found laying face down near Laguna Phuket's commercial district where engaged in an industry initiative of planking, aimed at bringing wider attention to the downturn of the island's property market.
As it turned out the group of mostly British expatriate businessmen were actually passed out, face down the parking lot of a nearby pub.
According to witnesses a day drinking event turned into all night and despondent brokers were whipped into a frenzy in round after round of remorse-driven binge drinking. As dawn broke most lapsed into a coma-like unconsciousness one after another.
Thailand seems to be at the helm of a worldwide planking frenzy, with a high profile Facebook website now racking up the hits.
Meanwhile in other industry news rumors persist over a new government initiative on allowing freehold land ownership any day now and there is currently mass buying of island land above 80 meters given the imminent return of Thaksin Shinawatra.
Also in an on again, off again relationship former Microsoft guru Bill Gates has denied any involvement in the Zoran island development in Phang Nga Bay.
According to a report in the UK's Daily Mail former Davis Cup Captain David Lloyd is being sued by another tennis star Greg Rusedski over a failed investment in Phuket.
A legal action has been filed with a claim of the return of a 740,000 pounds for an investment in the Cape Sawan luxury estate project which had been made three years ago.
The project was soft launched in March of 2010 as David Lloyd Asia acquired the remaining lots of Jomchang Phase 2.
As part of the development which had 26 lots of 1-2 rai, there was an option of two villa types from 610 square meters internal up to 1,000 square meters.
Pricing had been set from USD3.3 up to USD7.1 million.
The Daily Mail article say's the funds were paid by Rusedski into David Lloyds personal account in Thailand. Further stating that Lloyd has refuted the claims and the story is now playing out in the U.K media and the courts.
Design is something that continues to be a contenious subject here on the island. I recently read an extremely intelligent article by Scott Gorsuch of the consulting firm Leisure Design Group which appeard in the Phuket News and am reprinting it with his permission –
"The old adage not withstanding, imitation – as it turns out – is usually the worst sort of flattery. Occasionally however, a sharp architect will be inspired by a great building or design example, and then reinterpret it in a new and flattering way. The result is something itself unique, paying homage to a design icon and eschewing thoughtless imitation.
An excellent example of the latter would be Sala Phuket, where the Thai architectural firm Department of Architecture has created a spacious contemporary resort infused with subtle 19th century Sino-Portuguese design elements. The result flatters, rather than imitates, the iconic Phuket style. Jean Michel Gathy's artful – and restrained – incorporation of a traditional Thai roofline into his otherwise contemporary villa designs for the Cape Residences on Cape Yamu yield a similarly successful and satisfying result. By contrast, one need only glance at the slavish and thoughtless reproductions of Lanna style architecture on other east coast oceanfront villas to instantly observe a dismal failure. Reproduction without consideration of time, place, and context almost never succeeds. All too frequently, the result is an eyesore that will be visible to all for a very long time.
Probably no greater example of such blemishes on Phuket are the countless shophouse style commercial developments that continue to proliferate without regard to aesthetics or (apparently) demand, as great numbers of them sit empty long after construction is complete. Great swaths of Phuket's landscape are blighted by endless rows of these soulless, monotonous blocks. Up to four stories in height, the ground floor presents an unwelcoming steel shutter, while the faade of the upper floors presents the worst sort of imitation Sino-Portuguese windows, which are in turn covered with giant commercial signage. Was there ever any intention of letting light into these buildings? Does anyone actually live – or work – on the upper floors? Does Phuket have any sort of regulations governing the size or placement of signs? Mysteries of the Orient, all…
Fortunately, some relief appears to be in sight. Several recent commercial developments on the island give a nod to the traditional style, but with a vastly approved architectural appearance. These new buildings provide glass on the ground floor, inviting us to peer inside and perhaps visit. Upper floors present a faade design that is compatible with the ground floor entry, allows additional light into the building, and even provides a purpose built section for signage, of moderate size, that does not obscure windows. The entire effect is aesthetically pleasing, functional, and friendly. One is automatically drawn to rent space, or to patronize occupant businesses that do.
Construction cost is marginally higher, and perhaps rent as well, but there are still a plethora of the more basic units available for those on a tight budget. For anyone who believes – as I do – that design matters, a small extra expenditure would be worth the cost. Here's hoping that more of Phuket's commercial developments choose to innovate rather than imitate, improving the scenery for us all."
For more information on the Leisure Design Group <link>http://www.leisuredesigngroup.com*CLICK</link>
The first leasehold residential property that has been transferred on a leasehold basis in the Maldives has sparked interest in the islands property market.
A three bedroom hotel managed unit at Soneva Fushi, which transacted to a French national sold for USD7 million dollars has been officially registered
Last year the country enacted legislation in order to allow foreign property ownership to a maximum of 50 years in order to stimulate the local economy.
In a blow to the French property industry the country has unveiled a new draft law aimed at taxing non-resident second or holiday home owners.
Hard hit would be purchasers from the U.K. and surrounding countries who are heavily invested in vacation and countryside properties.
Even expatriate French nationals would fall under the hammer.
A vote is set by the legislative body by midyear and a number of complaints have been made to the EU already by various bodies.
Presently the real estate sector which thrives on transactions from this sector are quite vocal, saying a new tax would be damaging to the industry.
The inaugural Phuket Property Review by the island's leading newspaper The Phuket Gazette has been released.
Providing comprehensive information on real estate including a breakdown on what's happened in the west, east, north, south and inland sectors, it's a must read.
Other features include design, finance and commentary by some of Phuket's leading agencies.
To download a copy <link>https://c9hotelworks.com/articles/phuket-gazette-phuket-property-review-2011-05.pdf*CLICK</link>
A new phase of villas at the Kirimaya destination development in Khao Yai is offering an innovative cedar and tented roof.
The new Kirimaya Residences MITI has launch the new Leelas and Rati villa types. The former offers a natural connection to the outdoor environment and indoor living areas.
Khao Yai remains one of Thailand's surging domestic property markets driven by domestic demand and short driving time to Bangkok.
Kirimaya has continued to evolve with its resort, lifestyle and residential integrated offering.
One of Phuket's premium west coast hotel and upscale land parcels, the 65 rai oceanfront Freedom Beach plot is on the market at THB43 million per rai.
A total price of THB2.8 billion baht would be one of the highest recorded land transactions in Phuket if the property moves.
Located at the end of South Patong the site is near to the luxury Hong Kong New World development and Bangkok based Gaysorn's Cape Paradise.
To view details of the parcel <link>http://freedombeachphuket.com*CLICK</link>
Industry players are curiously watching the property, whether the pricing will attract interested parties.
