Absolute Starts Construction Of Private Residence Club
Absolute World have commenced construction to the oceanfront development The Beach in Koh Samui.
Set to operate as a private residence club (PRC) the project is located in Thong Krut.
Design is by the international firm yoo.
With a combination of suites and penthouse units the concept of shared ownership is expect to gain market momentum faster than straight unit sales.
Visiting the island recently I spoke to the sales director at Beach Republic which is one of Samui's most successful property offerings. He said that fractional ownership had continued to retain momentum at a time when full ownership transactions at other developments continued to be challenged.
Private residence clubs are not a new product in the global context but in Asia it's still in its infancy. Hotel groups such as Banyan Tree have successfully launched destination clubs which are similar to PRC's with a good amount of success.