Supicha Property, a Phuket-based developer, will begin construction of a mixed-use commercial and residential development on the island that will feature Sino-style design and architecture in December, local media reported. The project will be situated in Koh Kaew located near the center of Phuket.
Supicha Sino Koh Kaew will be situated on an eight-rai land plot that is near the British International School (BIS). This area has been increasing in popularity during the past few years with Thai buyers flocking to Koh Kaew. The project will cost THB300 million to build and will contain residential units as well as retail space. Prices for the residential units will start at THB4 million.
The project will have a total of 65 units with three different residential types available including 32 home office units, 22 twin house units and 11 single-family houses. The latter will consist of two-story homes that will boast a total area of 175sqm and be situated next to the lake that is adjacent to the development. Prices for these units are expected to be around THB5 million.
“We are confident the Phuket Town style concept will be a hit with local buyers, especially given the location near the international school but at reasonable prices,” Supicha Sino Koh Kaew ‘s sales manager, Hathaitip Koysomwong, told the Phuket Gazette. “Construction is set to begin in December and is expected to be completed around the first quarter of 2018.”
Supicha Property Managing Director Supicha Yorsaengrat told the newspaper that the project is targeting Thai buyers for the most part. The mixed-use development is being built on land owned by Isayaporn Co Ltd. A few units have sold already, but the developer has not yet started a full sales effort as of yet.
“Demand is high for these kinds of units,” Supicha pointed out. “The price and mixed commercial-residential concept are suitable for local investors. We have already sold 13 units.”
