Mai Khao remains Phuket’s hidden gems. But a new upscale property development to be managed by the world-famous Radisson brand could help introduce area to a global audience. Thai-Chinese Property Holdings and Aplan Properties teamed up to launch Radisson Phuket Mai Khao Beach. Both firms are confident the project will be popular with investors and guests alike.
Located north of Phuket International Airport, Mai Khao is home to five-star hotels and has numerous attractions. Dr. William Lau, Director of Thai-Chinese Property Holdings, noted that the long beach and green surroundings of Mai Khao make it popular among visitors to Phuket even if it is not as well known as Patong or other places on the island.
“There is no need to deal with traffic when travelling to Mai Khao from the airport. Since it only takes 15 minutes to get to Mai Khao, more visitors are now choosing to stay here” Lau stated. “We are more than confident that our collaboration with professional business alliances, such as Aplan and Radisson Hotel Group, will surely attract Chinese and Southeast Asian investors and visitors”
The strong hotel brand, reputable developer and freehold ownership all make the Radisson Phuket Mai Khao Beach an attractive investment. Additionally, the ownership scheme provides investors with a guaranteed yield of six percent during the first three years with a revenue sharing model to be introduced after that. This is predicted to provide a five percent net yield annually.
“This project can be seen as a trophy asset thanks to the brand and the fact it is one of only a few beachfront developments being launched in Phuket at the moment,” Marciano Birjmohun, Managing Director of DMRD Asia, said. “And, of course, being a buy-to-let investment helps. There continues to be global demand for Thai real estate, but many people want a property that is managed for them. They don’t want to have to take care of it. These buy-to-let opportunities are rare in Thailand, so this is something investors respond positively to.”
Birjmohun added, “Project sales for Radisson Phuket Mai Khao Beach will launch in Hong Kong and Macau before moving to India and China. Radisson is a very well-known brand in both China and India which helps overcome some of the challenges facing those markets such as the strong baht. Thai investors are also one of our potential markets as they will be familiar with the brand and location.”
Construction on Radisson Phuket Mai Khao Beach will start during the first quarter of next year with the THB1.6 billion development expected to open in the first quarter of 2023.