Ananda Development is planning to break ground on several residential projects, including a health center, hotels, and an international school, on an 8,000-are land plot on Phuket. The first stage will begin as early as next year.
Phuket attracts many foreign nationals as a location in which to purchase real estate. It is particularly popular among the Chinese and Russians who have purchased many high-end villas here over the past few months.
The three key drivers increasing Thailand’s attractiveness for property buyers from other countries are high-class healthcare services, good education, and an opportunity to stay for a long time.
A long-term visa recently introduced by the government is a good way of attracting talented and rich foreigners. Some terms and conditions of applying for it, however, turned out to be too restrictive to tempt a lot of foreigners.
Ananda Development still expects the Thai economy to recover as the tourist flow renews. The reasons preventing Chinese tourists from visiting are expected to be mitigated soon.
In the fourth quarter of the current year, Ananda is planning to launch six new residential projects worth a total of 21.6 billion baht.
By the end of the year, the company is supposed to raise 6 billion baht through early sales of new projects.