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
Thailand Property FAQ
Can foreigners buy property in Thailand?
Yes. Foreigners can own condominium units freehold, as long as foreign buyers hold no more than 49% of the building's saleable area. Land cannot be owned directly by foreigners; houses are usually held through a 30-year lease — and since a March 2025 Supreme Court ruling, automatic “30+30+30” renewal structures are not enforceable beyond the first 30 years. Read the full foreign-ownership guide.
What is Thailand's 49% foreign quota?
In any condominium project, no more than 49% of the total saleable floor area can be foreign-owned. The quota applies only to condos — not houses, land or leaseholds — and popular buildings in Bangkok, Phuket and Pattaya can hit the cap. How the quota works in practice.
How much are property transfer fees in 2026?
The transfer registration fee is cut to 0.01% (from the standard 2%) and the mortgage registration fee to 0.01% (from 1%) for purchases where both the price and assessed value are 7 million baht or less — extended by the Cabinet on June 30, 2026. On a 6-million-baht home that saves around 120,000 baht. Who qualifies for the cut · Standard fees & who pays what.
Is it better to rent or buy in Thailand as an expat?
It mostly depends on your time horizon: for stays under roughly five years renting usually wins once transfer costs and resale friction are counted, while longer stays can favour buying — especially with 2026's reduced fees. The rent-vs-buy maths for expats.
How much does property cost in Thailand?
A little over 2 million baht buys a freehold one-bedroom condo in central Chiang Mai — the same budget covers only a studio in Bangkok's CBD. Prices vary sharply by region and city. Average prices by region, and what they buy you.
What taxes do property owners pay in Thailand?
Owners pay the annual land and building tax, and rental income is taxable; buyers and sellers split one-off costs like transfer fees, stamp duty or specific business tax depending on the deal. The go-to guide to Thai property taxes.
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