In an attempt to increase sales at its residential projects, Charn Issara Development is opening new hotels at its housing sites in Cha-am and Phangnga, reports local media. Both projects have not sold as well as the company hoped and the new hotels, which will operate under the Baba Beach brand, will drive more customers to the developments.
The hotels will be situated at the same location as the residential projects and should make them more attractive to potential buyers. The 1st new property will be Baba Beach Club Hua Hin that is going to be located next to Thew Talay Estate on Cha-am Beach. The residential development was started 4 years ago and there are already 3 finished condo projects on the site. There are more than 400 total units still for sale at the condos.
“The Cha-am property market is steady. Sales keeps going well though it is not so hot. We aren’t worried about the sales rate as our project is on the beachfront plot, which is rare and has become fewer and fewer. Its value will rise when beachfront plots become scarce,” says Charn Issara Assistant Managing Director Ditawat Issara to the Bangkok Post.
There are also plans to open a new hotel in Phuket before the end of the year. The Baba Beach Club Phuket will have a total of 16 rooms and be situated in the Na Tai district of Phangnga. At the moment there are 26 villas for sale at the same site. While some of its resort projects, such as the one in Phangnga, have not performed that well, Charn Issara is still recorded strong sales at luxury developments.
“The luxury market is expected to continue being healthy in the second half. The company recorded 5 units sold at Issara Residence Rama 9 from a total of 20 units priced between THB 89-120 million, without any show units,” says Ditawat.
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