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Rare opportunity to purchase one-of-a-kind development
SINGAPORE, 7 July, 2016 - Royal Phuket Marina has appointed Mike Batchelor and Aaron Desange from JLL Hotels & Hospitality Group to offer the property for sale. Following serious interest from an international buyer, Royal Phuket Marina Chairman, Mr. Gulu Lalvani, has decided to officially put the development on the market. As exclusive advisor, JLL will handle the sale through an expression of interest campaign closing September 2016.
“Royal Phuket Marina is my passion and since opening over 10 years ago I have worked tirelessly to promote yachting in Thailand and make Royal Phuket Marina a leading waterfront destination in the region. With still so much untapped potential, I am keen to find a buyer who can take Royal Phuket Marina to the next level and realise my dream of making this property a world-class integrated lifestyle destination,” said Mr Lalvani.
Strategically located on the east coast of Phuket with excellent access to the island’s main arterial road, the property is less than 30 minutes’ drive from the airport as well as the island’s key hot spots and major tourism demand generators. Built in 2005, Royal Phuket Marina is an award-winning mixed-use development project that comprises luxury residential, a world-class marina, a waterfront promenade with restaurants and bars, the island’s largest conference and exhibition facility with high-end retail and office space.
Aaron Desange, Executive Vice President, Investment Sales Asia, said, “The property offers a number of value enhancement opportunities including the development of hotels, additional residential and entertainment facilities including a proposed world-class water park. The offering also has the potential for Board of Investment (BOI) privilege allowing for 100 percent foreign ownership.”
With a total land area of approximately 200 rai (320,000 square metres), just one third has been developed so far. An ambitious and innovative Master Plan has been created that would create one of the most desirable resort destinations in Thailand.
“We have worked with a leading international architect to prepare a Master Plan that shows the huge potential of Royal Phuket Marina. Established on the sound fundamentals of Phuket's tourism industry, the Master Plan offers interested buyers an option in how they can develop and enhance the current Royal Phuket Marina offering to become a world-class lifestyle destination for families,” added Mr. Lalvani.
“Nothing has changed on-the-ground and it remains business as usual at Royal Phuket Marina for all our team, residents, clients and stakeholders.”
Mike Batchelor, Managing Director, Investment Sales Asia commented: “The Phuket hospitality market continues to be a focus of investors globally and we are anticipating very strong interest in this asset, particularly given the significant future development angle that it offers. Rarely does such a large land holding with extensive master planning come to market in such a prominent location and sought after investment destination.”
For more information, visit www.royalphuketmarina.com or contact JLL’s Mike Batchelor (+66 81 984 9070 / email@example.com) or Aaron Desange (+65 8322 8348 / firstname.lastname@example.org).
JLL (NYSE: JLL) is a professional services and investment management firm offering specialized real estate services to clients seeking increased value by owning, occupying and investing in real estate. A Fortune 500 company with annual fee revenue of $5.2 billion and gross revenue of $6.0 billion, JLL has more than 280 corporate offices, operates in more than 80 countries and has a global workforce of more than 60,000. On behalf of its clients, the firm provides management and real estate outsourcing services for a property portfolio of 4.0 billion square feet, or 372 million square meters, and completed $138 billion in sales, acquisitions and finance transactions in 2015. Its investment management business, LaSalle Investment Management, has $58.3 billion of real estate assets under management. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit www.jll.com.
JLL has over 50 years of experience in Asia Pacific, with over 33,000 employees operating in 92 offices in 16 countries across the region. The firm won 15 awards at the International Property Awards Asia Pacific in 2016 and was named number one real estate advisor in Asia at the 2015 Euromoney Real Estate Awards. www.ap.jll.com.
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