On the island of Phuket, in the area of one of the most popular beaches, a residential area with villas for wealthy buyers will be built. Construction will begin in Q4 2023.
The project called Rosewood Residences Kamala will be built in the area of Kamala Beach. The total cost of construction will be 7 billion baht ($200 million). The minimum cost of one villa will be around 600 million baht ($17 million).
The project is being created under the brand Rosewood Hotels & Resorts, an international chain of resorts and hotels.
Rosewood Residences Kamala will be built by Raimon Land Plc, a developer from Bangkok. The company's management has expressed its confidence in projects aimed at wealthy buyers, since it is the luxury real estate market in Thailand that shows the greatest activity and rapid growth. It is noted that developers of luxury real estate in Thailand are counting on foreign buyers - primarily from China.
Kamala is a small resort town with a beach of the same name with a length of 3 km. Real estate near Kamala Beach is considered one of the most expensive in Phuket.