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HOME // Phuket News // Central Pattana launches huge condo project in Phuket

Central Pattana launches huge condo project in Phuket

PHOTO: Central Pattana

The investment and retail property development firm Central Pattana is launching one of the largest condo development projects in Phuket. The development will be located near Central Phuket Floresta, opposite the Central Festival shopping Centre.

The Phyll Phuket development will comprise 700 units, worth a combined 3 billion baht. Kree Dejchai from CPN says demand for condos in Phuket remain robust among foreign buyers and Thais.

“We launched phase 1 of the condo project during the pandemic and recorded a satisfactory sales rate as the tourism sector in Phuket has experienced a strong comeback. The island is a global destination.”

The first phase of Phyll Phuket launched in late 2021 and consists of 3 eight-storey buildings and 439 units, worth a combined 1.5 billion baht. To date, it has reported a 70% sales rate, with construction set to be complete next month, when units will be transferred to their new owners.

The developers expect phase 1 to be completely sold out by the end of this year, generating revenue in the last quarter of 2023 and first quarter of 2024. Kree says that while the firm did not particularly target foreign buyers, demand has been strong in that market, accounting for 15% of sales. It’s understood most buyers are Russian, followed closely by the Chinese.

The development is being built on a 20-rai plot of land purchased by CPN prior to the pandemic. It’s located on Mueang – Naka Road behind Central Floresta and close to the HeadStart International School. Around 6 rai of the land has been used for phase 1 of the project, with the remainder earmarked for phases 2 and 3, which will launch next year.

SOURCE: Bangkok Post

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