RITZ-CARLTON TO BUILD IN PHANG NGA

The luxury Ritz-Carlton brand is going to debut in Phang Nga with the signing of Similan Beach, a Ritz-Carlton Reserve. Located just north of Tha Sai, the upscale villa resort which will consist of 79 villas is scheduled to open by the fourth quarter of 2011. The site was previously owned by ‘Kingdom Hotel Investment’ and had been earmarked for Raffles managed product.

Over the past few years, this area of Phang Nga, also known as ‘The Greater Phuket’, has seen a lot of development of high end residential properties with million dollar villas rising along Natai Beach. Unlike on Phuket itself where it is hard to find real beachfront property, in Natai ocean front property has been available although prices have increased significantly. With easy access from Phuket just over the Sarasin-bridge, the resort areas under development have good road infrastructure and there is only a short travel time from and to Phuket International Airport. Aside from the Ritz-Carlton project, Hong Kong tycoon Richard Li has acquired the Thai Muang 1000 Rai golf course site and is reported to be developing a large scale mixed use resort.

Source: Property Report