Thailand’s premier property developer is expanding their hospitality portfolio, 10 years after opening their first award-winning resort Sri panwa. The Charn Issara Development Public Company Limited (PCL) will open Baba Beach Club in mid-2017 after seeing a gap in the market for luxury style accommodation and service in the less spoken about Northern Phuket.
The new project will be a mixed-use residential and resort offering that will hold a total value of approximately $AUD112 million (3 billion Thai Baht) and will set a new benchmark in luxury residences in the area. In a joint venture with Junfa Real Estate, a leading real estate company from China, Charn Issara Development PLC is expecting the six five-bedroom beachfront villas to sell from $AUD5.25 million (140 million Thai Baht) and the 36 two-bedroom pool villas from $AUD1 million (26.8 million Thai Baht).
Baba Beach Club will be located in the Northern part of the island in the Phang Nga province, situated along the idyllic Natai Beach and surrounded by an oasis of lush tropical vegetation. Alongside the residential beachfront villas and pool villas will be the guest resort, consisting of 16 one-bedroom beach club style hotel suites, 96 one-bedroom suites and eight two-bedroom penthouses. The resort’s facilities will also include a fully equipped fitness centre, spa, dedicated bar, restaurant, natural swimming pools and a beach club.
Mr. Vorasit ‘Wan’ Issara, Managing Director of Sri panwa Management Company Limited speaks of the success of Sri panwa and what the new development will bring to the area;
“Business at Sri panwa has been going very well, with an astounding rate of 40% return guests. Despite an unfavourable economic sentiment in Europe, we have seen an increase in Asian tourists travelling to Thailand, particularly from China.
Baba Beach Club will maintain the same exceptional standard that has made Sri panwa world-renowned in its look and feel, atmosphere, outstanding facilities and service. We also expect a boom in similar properties in the area following in the footprints of Baba Beach Club and subsequently surging residential prices.”
Charn Issara Development PCL is a family owned and managed company, run by Wan’s father and Chief Executive Officer, Mr. Songkran Issara. Wan developed the company’s first hospitality venture Sri panwa at just 23 years of age, after studying at some of the most respected hospitality business schools in the United States and Switzerland.
Plans are underway for Charn Issara Development PCL to further expand their hospitality portfolio under Sri panwa Management Company, with construction having commenced on properties in the Cha-am and Hua Hin areas of Thailand. The company has proposed to expand their signature ‘Baba’ brand internationally, beginning with a project in Hainan, China.
With growth on the horizon, a positive outlook from Wan and consumer demand remaining relentless, the future is looking bright for Charn Issara Development PCL and Sri panwa Management Company.