Minor International, which is based in Thailand, and Kajima Corporation, which is based in Japan, have opened their third branded home project in Phuket, Thailand. Kiara Reserve is the name of their new branded home namely Normanton park 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 Normanton park price 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 conglomerate that works in real estate, hotels, and recreation. It has more than 530 hotels, villas, and private apartments in 63 different countries.
Its hospitality arm, Minor Hotel Group, is in charge of building and running its hotels and resorts. Minor Hotel Group has a number of hospitality names, such as Anantara Hotels, Resorts & Spas. Minor Food Group, a part of the Thai company, is in charge of the restaurants and food and beverage businesses. Minor Corporation is in charge of the retail trade business.
The post-pandemic desire for branded homes has also changed. He adds new branded houses are no longer coupled with a hotel, as was the case when the idea originated here.
“This shows that consumers understand the standalone appeal of a branded residence, as well as the assets’ ability to drive premium rents and prices in this region,” he adds. Domestic demand has always been robust for our Thailand and Malaysia projects, accounting for up to 80% of purchasers. However, European and Asia Pacific buyers have been contacting us more recently.
Most international purchasers still choose freehold branded houses, and Tamthai believes up to half of its developments sell to foreign buyers.
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