By Andrew Batt:
Luxury property developer Minor International has reported sales of more than THB 1.15 billion at its prime residences in Bangkok, Chiang Mai and Koh Samui for the first six months of 2012.
In Bangkok, units at the Residences at St. Regis (pictured) have sold extremely well with 41 of the 53 units sold.
James Knowles, Vice President for Sales and Marketing, Residential Property, said: “The largest numbers of individual Residences have been purchased by Thai nationals. Our other owners have come from all over the world, and are people who wanted to own the ultimate private home in Bangkok that is fully serviced by a leading five-star hotel such as The St. Regis.”
He added: “What is totally unique about the St. Regis in Bangkok is that we purposefully chose to develop only three- and four-bedroom Residences which offer a wealth of benefits to both private individuals and companies alike”
The St Regis Hotel has been open now for just over a year and Knowles noted that enquiry levels continue to be very good as potential buyers see firsthand how the quality of the hotel and its service delivery relate directly to the numerous other advantages of living above a premier hotel that offers such direct and personal service to the Residence owners.
This is one of the reasons that inquiries from companies have been increasing.
“We have sold a number of our Residences at The St. Regis to companies who have a big presence in Thailand and naturally have a lot of visiting executives. The firms that purchased a Residence have told us that they view their Residence ownership as an investment with multiple advantages and as a commercial balance against traditional hotel offerings which can accrue huge costs if the business needs to host many visiting executives throughout the year,” added Knowles.
In Chiang Mai, Minor International has completed a second and final phase of The Residences that are adjacent to the prestigious Four Seasons Hotel in Mae Rim. A total of five Villa Residences were developed and two of the five Estates have been sold. Inquires from customers are brisk, according to the company.
In Koh Samui, The Estates adjacent to the Four Seasons Hotel offers 14 villas in one of the top locations on the island. Recently, Minor International announced the latest sale of one of its luxury estates to its latest owner – a Thai national. The high-end villa sold for well in excess of US$3 million, making it one of the biggest property sales on the island for a number of years.
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