Minor International is launching three new projects in Phuket valued at Baht 9 billion. All developments offer something different, with a mixed-use retail and commercial building, an ultra-luxury residential development and a new phase of the Anantara Vacation Club. One of the projects will be a second luxury residential development with Kajima Overseas Asia. The two will work together creating a 50:50 joint venture to construct on the 99 rai of land located near the Anantara Layan Phuket Resort and The Residences by Anantara, Layan, Phuket. Both projects are part of Minor International.
With 16 luxury villas for sale in two phases, the project named Avadina Hills by Anantara will have the first phase of 11 villas completed starting in 2018. The second phase is planned to be ready in 2020. A shared space will be leased to Anantara Layan Phuket hotel to build extensive new facilities featuring a gym, spa and tennis courts.
The second project to be in development by Minor International are the 97 newly-designed Anantara Vacation Club apartments and villas with pools. Located on 20-rai of land adjacent to the Anantara Vacation Club Mai Khao, the luxury properties are expected to be completed in 2018. The new real estate project is valued at an estimated Baht 3 billion.
Finally, the third project under development is the expansion of Turtle Village shopping mall. The new section is set to open to the public in 2019. Located adjacent to the current mall, there will be approximately 534 sqm of prime office space. This can be seen by the fact the office space is already leased out on long-term commitment. There is also approximately 1,270 sqm of retail space which will complement and build on the excellent location.
William E. Heinecke, Founder and Chairman of MINT, commented, “With its reputation as one of the world’s best-known holiday destinations together with improving new infrastructure including the new international and domestic airport terminals on the island, Phuket will draw domestic and foreign travellers for many years to come. Last year’s tourist arrival growth of 18% was even stronger than the 13% from the prior year. Our confidence in the future of Phuket compels us to launch these three new projects.”
Dillip Rajakarier, Group COO of MINT and CEO of Minor Hotels, also commented, “We are particularly excited to announce the development of Avadina Hills by Anantara in the Layan beach area. With the strength of our Anantara brand and MINT’s development capability, together with Kajima’s expertise in construction, we are confident that this new development will follow the success of The Residences by Anantara Layan Phuket, and ensure that our pipeline of residential and mixed use developments continue to produce a steady stream of revenue and earnings. We also look forward to exploring other expansion opportunities with Kajima in the future”.