The MontAzure mixed-use development in Phuket continues to grow with high-end condos and villas, popular beach clubs, and the InterContinental Phuket Resort already confirmed for the site. The project’s newest addition was recently unveiled after Nye Estate, Kamala Senior Living, and a few other companies announced a partnership to develop a high-end senior living village.
The development is valued at THB3.5 billion and will be integrated into the MontAzure development. The upscale senior residences will be set on a hillside that provides views of the sea. The complex will be equipped with dedicated facilities and amenities for mature residents and is set to be managed by a senior living brand.
“Senior living communities have long been popular in Europe, Australia and the USA, but we are now seeing more of these upmarket villages in Asia, as affluent buyers look for safe, comfortable residential options in the region’s most appealing locations,” says Setthaphol Boottho, Executive Director at MontAzure, in a press release.
China is a fast growing source of investment into retirement communities, according to the recent Hurun Report. The research revealed that 28 per cent of HNWIs prefer to retire at medium- to high-end senior living development. This was an increase of 87 per cent when compared to the 2015 report. In addition to this, luxury properties of all types in Phuket are still popular with international investors
“MontAzure is at the forefront of a wider trend on Phuket that has seen luxury resort property come back into the investment spotlight, particularly along the island’s central west coast beaches. Being part of a mixed-use development makes MontAzure the ideal choice for mature buyers looking to escape the city without missing out on sophisticated lifestyle options,” says Setthaphol.
The 1st phase of the MontAzure development is the Twinpalms Residences MontAzure and the project has been substantially sold out. A pair of other entertainment venues at the site, Café Del Mar and HQ Beach Lounge, are currently open for business.
Image via condos.montazure.com
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