Minor International, which is based in Thailand, and Kajima Corporation founder of Tembusu Grand Showflat, which is based in Japan, have opened their third branded home project in Phuket, Thailand. Kiara Reserve near the Tembusu Grand showroom is the name of their new branded home in Layan Bay, Phuket. This is their fifth project together.
So far, they have finished two other named residence projects, Avadina Hills by Anantara and Layan Residences by Anantara, along with F&B and recreation facilities.
Minor International was founded in 1978. Its first resort was the Royal Garden Resort Pattaya, which was on the beach in Pattaya. It’s called Avani Pattaya Resort & Spa now. In the past 50 years, the company has grown into a foreign business that works in real estate, hotels, and recreation. It has more than 530 hotels, villas, and private apartments in 63 different countries.
Minor Hotel Group, which has names like Anantara Hotels, Resorts & Spas, is in charge of building and running the company’s hotels and resorts. The Thai conglomerate is run by two different companies. Minor Corporation is in charge of sales and delivery, and Minor Food Group is in charge of restaurants and food and drinks.
Minor International, the main business, puts most of its attention on Southeast Asia. Most of its new projects are in popular vacation spots, says Micah Tamthai, the COO of lifestyle and real estate at Minor International.
Minor International and Kajima Corp are building Kiara Reserve and other named homes and facilities in Layan Bay as part of a long-term plan to turn 40 acres of good seaside land into a new vacation spot.
Kiara Reserve will be finished in 2025. It is made up of 17 houses and 25 condos with a mix of three-bedroom and four-bedroom units. Units are between 2,700 and 8,920 square feet.
Avadina Hills by Anantara has 14 villas on the side of a hill that faces the beach, and Layan Residences by Anantara has 15 villas on the side of a hill that faces the beach. Other facilities like Beach House, a restaurant on the beach that is open all day, and Layan Active Zone, a games center for families, are also done.
Tamthai says that Minor is selling units at Kiara Reserve for between US$1 million and US$3 million. This is the price range that the developer thinks most buyers of branded homes and vacation homes have been willing to pay in the last three years.
With this range of flat sizes, we’re making Layan Bay more appealing to a new group of buyers, and the price range gives more people the chance to buy into our development’, he says.
About half of the people who buy at Kiara Reserve are from Thailand. The other half are either foreigners living in Southeast Asia or people from Singapore, Indonesia, Malaysia, and Europe. Tamthai says that most of the people who buy from them are business owners who want a vacation house.
Most Thai buyers have signed up for the Anantara Hotel’s renting scheme. “When you don’t need your home, you can rent it out through a hotel. We don’t require blackout dates, and we don’t limit the number of days the owner can use the house,” says Tamthai. She adds that most owners use the homes for about six weeks each year.
Under this plan, there is no promise that the room will be rented. Instead, the owners get about 60% of the rental money, and the hotel keeps the other 40%. He says that most of the time, the amount the owners make from this hire scheme is more than enough to pay normal costs like energy and management fees.
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