More new property in Phuket for Amari Estates, Thailand

FOR IMMEDIATE RELEASE
(Free-Press-Release.com) February 5, 2011 -- As we reported last month, Amari Estates has also announced the launch of a new residential property development just south of Patong Beach in Phuket.

The new property development will be made up of one hundred and ninety condominiums and ten pool villas at the existing Amari Coral Beach Resort in Patong, which is managed by Amari Estates’ newly formed Onyx Hospitality brand.

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More new property in Phuket for Amari Estates, Thailand

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The project is one of four new property developments in Thailand by Amari Estates, which include; Amari Residences, Bangkok, which launched last year and consists of one hundred and twenty eight apartments; Amari Residences in Hua Hin where two hundred and ten properties will be completed by next year; and The Oriental Residence in Bangkok.

Once the condominiums at the at the two million baht Amari Coral Beach Resort in Patong are complete, work will begin on the Baan Krating Resorts’ boutique residences.

Amari Estates also own the land on which the Club Med Phuket stands on Kata Beach – a total of one hundred rai (39.5 acres).

For over thirty years, Club Med Phuket has occupied one of the most sought after locations on the Island. Should their long-term lease come up for renewal, it’s uncertain whether Amari will take the opportunity to expand their Baan Krating brand even further by taking control of the resort at Kata Beach.

Outside Thailand, Amari Estates also has plans to develop its international hotel and resort management business.

CEO of Baan Krating and majority shareholder of Amari Group, Yuthachai Charanachitta, commented; “Our strategy is to create a new firm for hotel-chain management. That will drive combined revenue to meet our target of 12.5 billion baht (US$ 406 million) by 2018.”

Group president and CEO Peter Henley added that the company planned to have fourty more hotels and residences under their management, in Thailand and overseas, by 2018.

Article source... http://blog.phuketoceanvillas.com/more-new-property-in-phuket-for-amari-estates-thailand/


Rebecca Smith
Phuket Ocean Villas - http://www.phuketoceanvillas.com

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