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Minor To Develop Phuket Luxury Residences

Category: Real estate, Posted:21 Nov 2012 | 09:51 am

The Minor Hotel Group is planning to develop between 17 to 20 hotel branded luxury residences in Phuket priced at USD3-5 million according to a report from Bualuang Securities.
These will be adjacent to the new Anantara resort at the Northern end of Bangtao Bay (formerly Bundarika Villas & Suites), which was acquired by the group earlier this year.
A hotel launch is planned in 2013 after an extensive upgrade , and Minor is expecting residential sales revenue to commence in 2014.
Minor's total investment in the project is reportedly expected to reach THB3 billon (over USD95 million).
While another Thai listed firm Laguna Hotels and Resorts (LRH) has rolled out a new phase of Deluxe Townhouse and Residences back of increased demand.
It's understood the company will also be announcing its lifestyle condominium project near to the Dusit Laguna and new Outrigger (formerly Laguna Beach Resort) hotels in mid December. Pricing points and unit sizes have shifted to lower pricing points and space given a realignment to the Asian market.
In a nutshell, for Phuket's current resort grade real estate market, the focus seems to be either go high or low.

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