Thailand, and Phuket in particular, remains the world’s premier holiday destination, and though it is increasingly difficult for developers to secure land, soon to be perched on the shores of Kamala Beach is Twinpalms Residences MontAzure.
MontAzure — where “mont” indicates mountains and “azure” is a reference to the water the project is nestled between — is a collection of beachside condominiums and hillside villas designed to provide guests the best of all worlds. “Why is this so special? [Phuket] has plenty of beachfront hotels, but there’s nothing else there. You have to get in a car to get to a restaurant or anything else,” explains Jonathan E Umali, director of asset management for Arch Capital Management in Hong Kong, which is one of MontAzure’s major investors (along with Narai and Philean Capital). “The opportunity we had was with 73 hectares, so sea level up to 160 metres. So there are attractions on the beach, there are hiking trails, biking trails, retail, spa areas, sports centres. There’s a ‘party central’, and we’re bringing in an Ibiza beach club brand, which will be announced soon. So it’s ideal if you want to be on your own in the hills, or if you’re bored you can come down to the bars. If you’re a hotel guest and you like the mountains, you’re free to go up. It’s an integrated masterplanned resort community.”
Along with the villas and condos, MontAzure will feature an InterContinental Hotel in the “downtown core” if MontAzure is likened to a city within a city. Umali expects investor interest to be strong given the continued appeal of the Thai resort sector and Thailand in general. “Phuket is almost a separate place from Thailand. It’s got a brand. The economy is resilient, unemployment is at 2%, there’s infrastructure, there’s wealth being generated. For us it’s a great market for investment. And for investors, interest rates are still low, the living standard is high, international schools have 2,000 spots. A lot of expats live there — it’s an hour from Singapore and two-and-a-half from Hong Kong. It’s very open to foreign nationals.” Investors also retain the option of keeping properties for private use or including their suites in the rental pool.
Condo prices begin at approximately HK$2.5 million with luxury estate villas starting from roughly HK$62 million (coming soon). The Twinpalms Residences MontAzure are previewing in Hong Kong on June 18 and 19 at the Landmark Mandarin Oriental’s Tian & Di Room, from 11am to 7pm. For more information contact Fiona Nel by dropping an email to firstname.lastname@example.org.
Author: Elizabeth Kerr for Squarefoot