Phuket Property: Malaiwana launch The Residences
PHUKET: Malaiwana is a luxurious development built on 28 rai overlooking Naithon beach on the north-west coast of Phuket.
The Phuket Gazette spoke to Malaiwana’s managing director Stephen Paine about the estate.
Phuket Gazette: What is the Malaiwana development?
Stephen Paine: It is a project with three elements: 19 villas, 12 residences and a beach club. We began construction on the villas around three years ago and to date we have completed two thirds of the construction. The design concept of The Residences is that they are villa-sized apartments, as we believe there is a market for people who want large apartments or penthouses. These apartments range from 600 to 730 square meters and officially launch this month.
What does Malaiwana offer its owners?
Malaiwana is located next to one of Phuket’s last remaining beautiful beaches. The location is amazing. Not just because of the beach, but the ocean views, and the proximity to the airport, which is becoming increasingly important.
Also, the estate is managed by internationally renowned Jones Lang LaSalle. And, we offer very high construction quality that has won awards based on value for the finished product.
What’s your vision for this project?
The original vision was to create a private residential estate as opposed to a resort, but with certain resort-type facilities.
We don’t have common facilities of any note, as all villas and Residences come with pools and all villas have gyms. We provide resort type facilities for private owners. We are not trying to be a resort but a very exclusive private estate.
Who’s your target market?
The demographic has changed from originally European buyers, now to Asian buyers. Hong Kong was always one of the mainstays for people to buy property on Phuket, along with Europe, but now we are getting buyers from India, China and Russia. But, there is no clear majority buyer. I think we have 11 different nationalities of owners.
What does this project give back to Phuket and the area?
What Malaiwana does do, and every project if they are successful, is bring traffic to an area, which in turn brings revenue and helps support local people through that revenue stream. That is useful just as long as a project does not damage the environment and I think we have achieved that.
Do you have any plans to expand?
Yes. Malaiwana is a recognized brand name now and that gives us opportunities to do further things. If we could find the right area on Phuket we would consider it.
How do you brand Malaiwana?
Because our source of buyers are so spread out, it makes things like print advertising, which tends to be local by definition, very difficult and very expensive. So, our marketing is achieved through billboard advertising because in our experience the majority of buyers of high–end properties have been to Phuket and are familiar with our brand.
I would say one third of our buyers are seeking a second property on Phuket. For owners to invest the type of money they would in Malaiwana they have to feel comfortable with the place and love the place [Phuket].
The Residences are made up of eight duplexes and four penthouses, designed to give owners a modern tropical living experience; located behind UP beach club. The penthouses occupy the entire upper floor, whereas the duplexes span the two lower floors. Both have an ocean facing infinity pool.
For more info visit: malaiwana.com.
— Andrew Scott
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