The Twin Palms Residences freehold project – part of the exclusive MontAzure mixed-use development in Phuket, has recorded what the developer said is “exceptional demand”, having now sold 29 percent of its units.
A total of 22 of the 75 units have been sold in the pre-launch, pre-construction period, with the soft launch opening of the sales gallery shortly and construction starting after the tourist high season in the second quarter of 2016.
MontAzure, which received Environmental Impact Assessment (EIA) approval last month, is located on one of the last remaining prime absolute beachfront sites in Phuket.
Twinpalms Residences MontAzure is a collaboration with one of Thailand’s most celebrated independent luxury resort brands, Twinpalms, and MontAzure, a development covering 454 rai (180 acres, 73 hectares) stretching from the mountainside to the beachfront site, valued at THB 15 billion.
The 75 branded beachfront condominiums are in the first phase of the project which also includes 13 ultra-luxury private hillside estate villas called The Estates, an international branded five-star hotel, four beach clubs, a medical and wellness centre, retail and a 200-rai nature reserve of primary rainforest.
MontAzure Managing Director, Roland Bleszynski, said: “We are very pleased by the response of the market. It is testament to the dedication of the team, and a well thought-through project that we designed specifically to address different market demographics.
“MontAzure is such an expansive mixed-use development that it has entirely its own eco-system, and one that we are careful to protect and foster.”
“We were delighted to receive our EIA, and sales have followed rapidly since then,” added Bleszynski.
Twinpalms Residences MontAzure occupies 100 metres of absolute beach front and is situated between Millionaire’s Mile and the Amanpuri headland in Kamala. It will be operated and managed by Twinpalms when completed in 2018. The project offers one- and two-bedroom units, with penthouses having access to a private roof top and pool with prices ranging from THB 8 million to THB 93 million.
Investors can join a management pool and benefit from a well-managed hospitality operation with attractive yields and owner usage up to 45-nights per year. Facilities will include a residents’ lobby, beach front restaurant and bar, gym/yoga studio, pool bar, spa pavilions, library and lounge, outdoor event spaces and on-site management office.
MontAzure is a joint venture of three of the most prestigious property and hotel investment groups in Asia – ARCH Capital Management (Hong Kong & Shanghai), The Narai Group (Thailand) and Philean Capital (Singapore), part of Pontiac Land Group.
Twinpalms Residences MontAzure will officially launch to the Bangkok public from now until February 28 on the ground floor of the EmQuartier mall in Bangkok.
