Phuket Property: B1bn condominium in a prime location

PHUKET: The recently founded, Bangkok-based Able Asset developer group has announced plans to launch a billion baht, low-rise condominium project on a centrally-located parcel of prime Phuket real estate.

Touted to be the biggest project of its kind on the island, the ‘Centrio’ condo will be developed on a plot that spans some 2,100 square meters, just opposite Central Festival Phuket on Vichit Songkhram road.

The development will comprise three eight-storey buildings with a total of 504 units.

Ranging in area from 30 to 60 sqm, the units will be offered from 1.49 million baht, or 48,500 baht per square meter.

Targeting both Thais and foreigners, the pre-sale period launched on November 11 and the developer expects to close sales by the end of the year.

Kasidit Manopinives, managing director of Able Assets Co Ltd revealed that the real estate company was founded earlier this year, with a total of 100 million baht in registered capital.

The management team has vast expertise in property and construction business, having developed residential projects individually and jointly with other partners, including the Baan View Viman Condominium near Kao Takieb in Hua Hin, under Sittarom Residence Co Ltd.

Centrio’s facilities will include a common area, lobby, golf putting green, exercise room, swimming pool and 24-hour security system with key card.

The construction is scheduled to begin in early 2013 and is expected to be completed by the end of 2015.

On December 8th, the company will launch another promotional event on the second floor Exhibition Hall of Central Festival Phuket, with special promotions to be offered.

Mr Kasidit explained that the reason Phuket was chosen for such a project is due to its worldwide popularity as a tourism destination.

“At the same time, Phuket residents have high purchasing power… The management team has developed projects in major tourism destinations and sees potential in the [Phuket] market.

“Currently, we have many land banks and are looking for more potential locations to be added to our portfolio to support our future projects.

We do not limit the concept of the development whether it is vertical or horizontal, depending on the land we have,” Mr Kasidit concluded.

For more information, please contact Kanokrat & Friends (PR Agency) by calling: 02-284-2662; Fax 02-284-2287, 2291, or by email: Kanokrat@kanokratpr.com.