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Luxurious Branded Residences: PEYLAA Phuket takes off!
Marriott and Capstone Asset launch PEYLAA Phuket, a luxury residential project in Thailand, with 5,000 million baht investment.
Luxurious Branded Residences: PEYLAA Phuket takes off!
Today Phuket gets another luxurious residential project. Real estate developer Capstone Asset has signed an agreement with Marriott International to develop and manage the "PEYLAA Phuket, Autograph Collection Residences". This exciting development is worth over 5 billion baht and will be built on an area of more than 10 rai (around 4,000 million baht). The complex three-story building will accommodate 408 residential units and a 5-star hotel with 126 rooms as well as four commercial areas Forbes Thailand.
The PEYLAA Phuket is being built in the popular Bang Tao area of Phuket, near Laguna and Boat Avenue. This location is characterized by easy access to beaches, wellness centers and a wide range of dining options. Phuket International Airport can also be reached in just 25 minutes, making the project particularly attractive to international buyers, as Nation Thailand highlights.
Extensive amenities for a luxurious lifestyle
The development not only includes the apartments, which are offered in various sizes - from 45 m² for 1-bedroom units to 129 m² for 3-bedroom apartments - but also numerous amenities such as three swimming pools, a restaurant, a gym, a yoga studio as well as tennis courts and common areas. Prices for the units start at 7.2 million baht (approximately 170,000 baht/m²). These exclusive residences represent the first of their kind in the Autograph Collection in the Asia Pacific region and the 15th globally, making the project particularly desirable.
Capstone Asset also plans to build another 5-star hotel in Na Tai, Phang Nga, with a total value of about 3.5 billion baht, which is expected to be completed by the end of 2027. The hotel will have 150 rooms, including suites and villas. Accommodation rates for hotel rooms will start at 18,000 baht per night, while villas will cost between 20,000 to 40,000 baht per night.
A trend in the luxury real estate industry
Thailand is well on its way to becoming the leading destination for luxury real estate in Asia. The popularity of branded residential projects is growing as developers increasingly target wealthy international buyers. Phuket remains a hotspot with over 4,771 branded units and 26 developments. Sales have increased over 200% since international tourists returned in late 2022, according to CBRE. Buyers from countries such as China, Hong Kong, the United Kingdom and Germany are showing increasing interest in luxury properties in Thailand, according to Property News Asia.
With this ongoing development, Phuket is expected to become a destination not only for holidaymakers but also for investors looking for high quality and exclusive residential offerings. So, despite the challenges posed by the pandemic, Phuket remains a prime location for luxury investments, supported by strong infrastructure and welcoming investment policies.
The PEYLAA Phuket project sets a new benchmark for branded coastal residential projects and will certainly help further cement Phuket's reputation as a premier destination. For Capstone Asset, this project represents a further step in its strategy to expand its presence in the region and offer outstanding, brand-defining properties.