The Yamu Hotel Project Restarts With New Institutional Partner
One of Phuket's most anticipated projects, Ã¼ber-luxury The Yamu Hotel and Residences, is set to press ahead with construction in the 4th quarter of this year. This is a result of the project's developer, Campbell Kane, joining hands with an institutional partner, Evolution Capital PCL, which is listed on the Stock Exchange of Thailand (SET).
The Yamu is designed by leading lights in the design world, Philippe Starck and Jean-Michel Gathy. The Yamu is set to usher in a new generation of luxury hospitality concepts and ideas, into what's being called Phuket 2.0.
thephuketinsider.com spoke to Campbell Kane Director Ian Henry who commented, "we are delighted to be moving the project forward to completion with Evolution Capital as our partner and aim to open by the end of 2010".
Despite a global economic downturn which has seen a number of hotel projects in Phuket incur delays, the current upturn in global financial markets seems to be heralding a growing appetite for equity and debt investors to take positions in the best projects available in the market. In the longer term, increases in tourism numbers coupled with significant growth in direct flights and airlift to Phuket strongly support the hospitality and residential market in Phuket.