MontAzure brings luxury branded residences and senior living to Phuket
By Timothy Tay
/ EdgeProp |
MontAzure extremely well located. Its 72ha site - equivalent to 100 soccer playing fields - includes the areas from the mountainside to a 200m private beachfront on Kamala Beach, a secluded area on the west coast of Phuket.
An exclusive mixed-use residential resort development, MontAzure is a joint venture (JV) between three property groups — the Hong Kong and Shanghai-based ARCH Capital Management, Thai-based developer Narai Group Partners and Philean Capital, an affiliate of the Kwee family- controlled Pontiac Land Group.
The first phase of MontAzure, the 75-unit luxury apartments branded Twinpalms Residences, was launched last year and so far, about 60% have been sold. One-bedroom units are from 753 to 2,690 sq ft, while two-bedroom units are from 1,657 to 4,304 sq ft, with prices ranging from $380,000 to $4 million.
Construction of Twinpalms Residences is well underway, and is slated for completion by end-2018. Apartment owners have the option of putting their units in the rental pool during months when they are not in use, according to Setthaphol Boottho, executive director at MontAzure and associate director of project management at ARCH Capital.
Depending on the unit size, rental yield could range from 5% to 7%, says Henri Young, MontAzure director of marketing and development. Interest has been steady since the project was launched about 1½ years ago. While 40% of the units were snapped up by wealthy Thais from Bangkok, the remaining 60% were purchased by international buyers and expatriates working in Asia, namely China, Hong Kong and Singapore. There were also buyers from the UK and Russia, notes Young.
One of six luxury hillside Villas at The Estates
In addition to Twinpalms Residences, MontAzure will also have a collection of six ultra-luxury hillside villas called The Estates, which will be priced from US$14 million ($18.9 million).
Last year, MontAzure opened HQ Beach Lounge, which is located next to Twinpalms Residences. It was joined at the start of 2017 by the famous Café del Mar. The first Café del Mar beachfront bar was born in Ibiza in 1980, while the record label was founded a decade later. The Café del Mar in Phuket is designed by award-winning K-Studio, an architectural firm founded in Athens, Greece, which is famous for designing many upscale residential and resort developments in Greece, including the renowned Scorpios Beach Club in Mykonos. The Café del Mar Phuket at MontAzure is expected to be fully completed by end-February 2018.
The new InterContinental Phuket Resort will open in 2019
Opening in 2019 is the InterContinental Phuket Resort, which will have a mix of rooms, suites and villas. This means that by 2019, all the beachfront components will be completed, says Young.
In September, MontAzure unveiled its Kamala Senior Living, an upscale residential village with highend residences in the secluded Kamala hillside. The Kamala Senior Living is a JV between four real estate companies — Nye Estate Co, Chewathai, L.P.N. Development and CH Karnchang Real Estate. They will, in turn, be advised by Audley, a UK-based company that operates a network of luxury retirement villages throughout England. The UK-based firm has even coined a new Asian brand, Otium Living, for its luxury retirement village in Kamala.
“As master planner and developer, we can curate the components and architectural direction at MontAzure,” says Leland Kwee, a director of Pontiac Land. This will ensure that they complement the existing elements in the development. “The senior living resort will appeal to Singaporeans who want to retire in an exclusive resort environment just a two-hour flight from Singapore.”
Follow Us
Follow our channels to receive property news updates 24/7 round the clock.
EdgeProp Telegram
EdgeProp FacebookSubscribe to our newsletter
Top Articles
Search Articles