Minor International unveils latest Phuket branded residence, Kiara Reserve

Minor International and Kajima Corporation recently unveiled their third branded residence project in Phuket, Thailand – Kiara Reserve. This is the fifth joint development in Layan Bay, Phuket, with two other branded residence projects, Avadina Hills by Anantara and Layan Residence by Anantara, and supporting F&B and leisure facilities having already been completed.

Starting out in 1978 with a single beachfront resort Royal Garden Resort Pattaya, Minor International has grown into an international property development, hospitality, and leisure conglomerate having over 530 hotels, resorts and serviced suites in 63 countries. It’s hospitality arm Minor Hotel Group has several hospitality brand such as Anantara Hotels, Resorts & Spas, restaurant and F&B businesses managed by its subsidiary Minor Food Group, and its retail trading business overseen by Minor Corporation.

Part of this long-term development project, Kiara Reserve comprises 17 villas and 25 condominium units, ranging from 2,700 sq ft to 8,920 sq ft, complemented with three- and four-bedroom apartment types. As Micah Tamthai, COO of lifestyle and real estate at Minor International says, they are opening Layan Bay to a new segment of buyers by pricing units between US$1 million ($1.36 million) and US$3 million, which is the sweet spot for most buyers of branded homes and holiday homes.

The target market for the project includes both local Thais, looking for a holiday home, as well as expats from Singapore, Indonesia, Malaysia and Europe, most of which have opted into the rental programme Anantara Hotel offers. This rental programme allows the owner to receive about 60% of the rental proceeds, with the hotel keeping the remaining 40%, and usually these owners get back more than the maintenance expenses.

Since the end of the pandemic there has been a spike in the number of Singapore-based buyers enquiring about their properties in holiday destinations such as Phuket and Malaysia due to the rising property prices in Singapore. Freehold branded residences still remain the choice for many foreign buyers with up to half of these projects being snapped up by overseas buyers.

The residence is also surrounded by top educational institutions.

TheOrchard Boulevard Condo is a development that offers distinctive living experience to its residents. Located in one of Singapore’s most prestigious addresses, this luxurious condominium offers impressive views of the city skyline. Other than the strategic location, residents enjoy a wide range of conveniences and facilities. A swimming pool, gym, club house, and children’s playground are provided for the homeowners to relax and have fun. Security is also stringent, with 24-hour concierge and CCTV surveillance.

A new generation of young and wealthy buyers is slowly dominating the sales of luxury branded residences. These buyers expect a good quality product, an excellent location and outstanding service, with environmental sustainability and energy savings also playing a role in their decision making. They’re also happy to pay more for larger living spaces post pandemic.