Phuket Property: Centrio condominium to be launched in town

PHUKET: Property developer, Able Asset Co Ltd are excited about their upcoming development in Phuket Town, Centrio, a condominium to be built on 2,100 square meters of land close to Central Festival, comprising three eight-storey buildings with a total of 504 units.

Kasidit Manopinives, managing director of Able Asset Co Ltd, spoke to the Phuket Gazette about Centrio and his company’s plans for the future.

Phuket Gazette: When will construction on Centrio start?
Kasidit Manopinives: Right now it is under review and we hope to get the license in the next couple of months. After that we will submit for the construction permit. I am expecting construction to commence in June. After Songkran we plan to do some site evaluation work so that we’re ready for the start of construction.

When do you expect the construction to be finished?
Construction should be finished by the end of 2014. We will allow two months to make any corrections to the development and then we will start the unit transfers.

Why choose this location in Phuket Town?
It’s a very prominent location. We called it Centrio because it is central to everything – shopping and nightlife. It took us a long time to negotiate for this site.

Do you have any plans for more developments in Phuket?
Yes, we actually already have townhouses in Phuket Town in Phumpon called Phuket@town. Centrio is our second project and we would like to add more developments in Phuket.

What does Centrio offer that’s different to the other condominiums?
We like to offer a lifestyle not just a building. We want it to be a place where people can relax.

How will Centrio affect or benefit Phuket?
As a company, we want to be part of the local community, and being part of the community means many things. As I mentioned earlier, this is our second project and we hope to be on Phuket more and more. Centrio will be a new lifestyle choice for citizens.

Do you have any more plans for developments in Thailand?
Actually, we are going to launch at least one or two projects in Bangkok and Hua Hin. We are looking to launch a third development in Phuket Town next year. It will be a condominium project similar to Centrio.

What’s the vision and objective of the Able Asset group?
We are a group of experts in property development. Our vision is to be part of local communities. We think that Thailand has a lot of potential to grow, especially in major towns like Phuket, Hua Hin, Pattaya and even Udon Thani. Many major cities in Thailand have room to grow and we want to be a part of that. We want to create new lifestyle options for people in cities.

What’s Able Assets’ investment policy over the next 1-2 years?
We want to add 1-2 projects each year for the next three years, each worth 500 million baht to 1.5 billion baht. Our revenue will range from one billion to 3 billion baht per year.

Do you see Phuket as a better market than Pattaya or Hua Hin?
Yes, I personally see Phuket as a more international area that has more potential to grow.

Units will range in area from 30 to 60sqm, and will be offered from 1.49mn baht, or 48,500 baht per square meter.

For more information, visit: thecentrio.com.

— Andrew Scott