A pair of new luxury resorts under the Baba Beach Club brand are in the pipeline from Charn Issara Development, reports local media. The new projects will be located in Phuket and Hua Hin respectively and will require an estimated investment of THB4.7 billion combined. The projects will open in October and the company hopes the resorts will increase sales of high-priced residential units at 2 connected sites.
Baba Beach Club Phuket is slated to open early next month and will contain 16 villas and suites and 2 large villas. The development is located on a 42-rai land plot on Natai Beach in Phangnga. The resort is close to Phuket airport.
“Phuket is a world-class destination. Many developments are in the pipeline including an airport expansion and more conference venues which will boost tourism business in the province. Since hurricane Irma hit Miami and the Caribbean Islands a few days ago, some upscale tourists who are frequent visitors to the Caribbean called us to book a room at Sri Panwa, our first resort in Phuket,” says Charn Issara Chief Executive Songkran Issara to the Bangkok Post.
The project required an investment of THB3 billion to build and was a joint venture between Charn Issara and Junfa Real Estate Co., a Chinese company. Baba Beach Club Phuket will also have a residential site with 6 beachfront luxury villas. Unit prices for the villas are THB 180 million and come with a rental programme that provides a guaranteed yield of 7.5 per cent.
“2 villas were sold after we promoted through Instagram alone. Buyers see it as an investment. Some whose businesses bill over THB 10 billion want assets in a resort destination as an entertainment venue for clients,” says Vorasit Issara, managing director of Issara Junfa Co.