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Minor International launches three Phuket projects

May 22, 2017 Headline News No Comments Email Email

Thai hotel and restaurant operator Minor International is set to develop three new projects in Phuket with total value of more than THB 9 billion (nearly AUD 350 million).

The company, listed on the stock exchange of Thailand, expects consolidated annual core revenue growth of between 15% and 20% this year, founder and chairman William Heinecke told Bangkok’s The Nation newspaper.

Minor International’s new Phuket investments comprise an ultra-luxury residential development, a new phase of Anantara Vacation Club (AVC) and a mixed-use retail and commercial building.

The new luxury residential project, Avadina Hills by Anantara, is a 50/50 joint venture with Kajima Overseas Asia, a unit of Japan’s Kajima Corporation. It’s being developed on about 15.8 hectares next to Minor Anantara Layan Phuket Resort and The Residences by Anantara, Layan, Phuket.

The Avadina Hills by Anantara will consist of 16 luxury villas for sale, with the first 11 now under construction and due for completion next year. Part of the site will be leased to Anantara Layan Phuket Hotel to develop new tennis, gym and spa facilities for use of guests of both the hotel and the residences.

Minor International  is also developing 97 Anantara Vacation Club luxury apartments and pool villas on a new plot adjacent to the existing Anantara Vacation Club Mai Khao. The new units are expected to be completed next year.

The third project is an expansion of Minor’s Turtle Village shopping mall.  The three-storey mixed-use building is due to open in 2019.

Heinecke told The Nation the company’s strong financial performance in the first quarter made him optimistic about the remainder of this year.

He said Phuket’s good holiday reputation together with improvements to airport infrastructure, gave him confidence it would attract domestic and foreign travellers for many years to come. Last year’s tourist-arrival growth of 18% followed growth of 13% achieved the previous year.

Written by Peter Needham

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