Amari Residences is expected to launch a new project in the first quarter of 2013, according to media reports in Phuket,
Located next to the Amari Coral Beach resort, the development will have 148 apartments and 12 villas. CBRE Thailand will handle project sales and marketing, according to the initial report which was authored by industry veteran Bill Barnett on his Phuket Insider website.
Ownership will be on a leasehold basis, unlike the Amari-branded product which was sold in Hua Hin on a condominium structure, the report said, adding that pricing has yet to be finalized but is expected to be significantly higher than the recent Laguna Shores offering in Bangtao.
With a lease offering and geared towards investment buyers expecting hotel yields, the apartments are highly segmented into the foreign marketplace. Phuket property has been a long-term favourite with overseas buyers.
The industry will be watching the offering closely to see how fast the units sell. Not finalized yet is whether unit owners will be obliged to enter a rental pool or whether this will be optional.
“For the Amari Coral Beach the inventory and new product will boost the hotel’s trading prospects,” Barnett reported.
This story was first published by The Phuket News and is published as part of a partnership between The Phuket News and PropertyGuru Group.
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