Phuket real estate breaks records, welcomes pioneering green development ‘Gardens of Eden’
The property market in Phuket is deemed the leading destination for luxury real estate development and investment in 2023, reported The Phuket News, citing data from Colliers International.
Phattharachai Thaweewong, the director of research and communications at Colliers International Thailand, revealed that the emergence of luxury villas and condominiums in the Bang Tao area on the west coast of the island has witnessed sky-high prices, reaching THB100 million per rai.
Among the up-and-coming developments in Bang Tao is a groundbreaking new-generation green project by Dubai investment capital funded Amal Development coined as the ‘Gardens of Eden’. The second phase of this project, which launched on the 29th of January, comes with a sweeping 73-rai residential and lifestyle community designed for families relocating to the island.
he developers collaborated with environmental experts to dedicate 70 percent of its land to vast green spaces, natural parks, and wetland areas, with car traffic directed underground. This ensures that the Gardens of Eden is set to achieve its goal of reducing carbon emissions through intentional green landscaping. Amenities include a 5,000-square-metre wellness centre, a park with fitness trails, kids’ clubs, and a water park. The final phase will introduce waterfront units for Lake Residences.
Ravi Chandran, the corporate affairs advisor of Amal Group, said: “It is very significant that Gardens of Eden is placing such an emphasis on green living as buyers want to buy into the island lifestyle of Phuket, which is all about nature and its beauty. The vision is to have a family-friendly environment that embraces the wider community – taking a lead on the world’s most important subject on the island.”
Based on Colliers’ report, the majority of land transactions in Thailand in 2023 occurred in tourist destinations, such as Chonburi, Rayong, Hua Hin, and Phuket.
Mr. Thaweewong added: “Following the reopening of the country after the pandemic, the most bustling tourism city in Thailand is Phuket.” The firm uncovered that the recovering tourism has prompted foreigners to purchase pool villas and condominiums as a second home or rental investment.
Yet despite the return of tourists, he noted that Bangkok real estate’s high prices have caused the market to remain stagnant in the past year. This has pushed developers in the capital to partner up with overseas investors to pour their efforts into projects in Phuket in the past year, dedicating over THB100 billion in the province, the highest number within 12 months in several years.
Source: https://www.asiapropertyawards.com/en/phuket-real-estate-breaks-records-welcomes-pioneering-green-development-gardens-of-eden/?fbclid=IwAR3Vr1NcN8mGTe2AydboLLmbkW88COUySsWkPSEf4PXk9NDYwakc9d2KOnk
Tags: Real Estate
