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Surin Hill launches new
project
Thailand Property Report
August 2008
The luxury property developer Surin Hill Development
has launched its latest project, the Bt2 billion Baan Thai
Layan on Phuket’s west coast. Units will not be available
for purchase individually however, but will instead be
sold collectively to a small number of investors, who are
expected to pay between Bt 100 million and Bt400 million
each.
"We are not selling individual units. The project will
focus on investors who are looking to invest in a property
project for a healthy rental return, or a resale premium
in the future," commented Surin Hill deputy managing
director Wanwipa Horbut.
Baan Thai Layan is set to be built in eight phases on a 25
rai. The first phase, with a value of Bt100 million, will
comprise of seven duplex units of 100 square metres each
and seven studios at 50 square metres. Construction is
slated to commence sometime in August.
The company said the investment for its other phases would
range between 100 million and 400 million baht. The second
phase will have 16 units while the third phase would offer
villas.
Wanwipa highlighted that the Phuket property market was
holding up better than other locations in Thailand and
still offered good opportunities for both local and
overseas investors.
Surin Hill is anticipating that unit values will have
risen at least 15 percent upon completion of the project
in three years time, and also expects strong rental
returns.
The company possesses another 25 rai plot adjacent to Baan
Thai Layan that has not yet been allocated for
development.
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