Capstone Asset Co., Ltd. is proud to unveil Peylaa Phuket Bang Tao (the "Project"), a THB 3.4 billion luxury condominium development located in the iconic Bang Tao area. This prominent neighbourhood is renowned for its world-class attractions and vibrant lifestyle offerings. Conveniently situated near Boat Avenue?a popular shopping and dining destination?the Project is just a stone's throw away from various golf courses, international schools, cafes, restaurants, shopping malls, and other points of interest.
The name 'Peylaa' is a transliteration of the ancient Thai word for time, while also being reminiscent of the word 'Pearl' in several languages?a tribute to Phuket's celebrated status as the 'Pearl of the Andaman.' This concept is an expression of our ethos of 'Living the Moment,' in which time transcends the ordinary, allowing life's most memorable moments to unfold at their own pace, all within a development set against Phuket's natural beauty.
Spanning a generous 10-3-09 rai (17,236 sq.m.) of site area, Peylaa Phuket Bang Tao features just 408 units across three elegant 7-storey buildings. Notably, the three buildings are thoughtfully arranged around a vast internal courtyard that occupies approximately 40% of the total site area, offering residents tranquillity in a low-density community set amidst lush greenery.
Featuring a 'modern tropical' exterior complemented by 'coastal chic' interiors, the development offers a variety of unit types, including 1-bedroom layouts starting at 45 sq.m., spacious 2-bedroom options of 82 sq.m. and 90 sq.m., and a special selection of combined 3-bedroom units at 127 sq.m. Each unit is sold fully furnished, ensuring a worry-free move-in experience.
The Project features an extensive selection of amenities over 3,000 sq.m., designed to foster both productivity and well-being while meeting the diverse needs of residents of all ages and lifestyles. These include a welcome lounge, three 25-metre swimming pools, a kids' pool, a fully equipped gym with a boxing ring, private Pilates and yoga studios, an ice bath, a tennis court, dedicated barbecue areas with outdoor seatings, a co-working space, a library, a playground, and a multifunctional pavilion for private events. Additionally, the development offers a shuttle service to nearby locations and ample parking facilities, including 204 car parking spaces (both indoor and outdoor) ? representing a 50% parking ratio ? as well as designated spaces for 55 motorcycles. Together, these amenities provide convenience and practicality for everyday living in the Bang Tao area.
Flexibility in the property ownership experience is another key highlight of the Project, with plans to introduce professional property management services and an on-site rental management counter staffed by experienced leasing professionals. This aims to facilitate seamless transitions between owner-occupation and rental use, optimizing both residents' quality of life and the income-earning potential of their properties.
A branded upscale hotel and curated commercial spaces are also planned as part of the broader mixed-use development, set to occupy approximately 2 rai (3,200 sq.m.) of land adjacent to the Project. These additions are anticipated to reinforce the Project's premium positioning and elevate the living experience for its residents upon completion.
Presales for the Project are set to commence on December 9th, 2024, with the official sales gallery opening in Q2 2025.
Mr. Titiwat Kuvijitsuwan, Chief Executive Officer at Capstone Asset Co., Ltd., commented, "Peylaa Phuket Bang Tao is envisioned as a luxury residential community that encourages residents to pause and live in the moment. With exquisite design that epitomizes the Andaman coastal lifestyle, it targets both local and international buyers seeking sophistication and harmony with nature. Phuket, known for its natural beauty, rich cultural heritage, and modern conveniences, continues to bolster its reputation as one of the world's top leisure destinations. The island's appeal will continue to grow with infrastructure enhancements, including the Phase 2 expansion of Phuket International Airport and the Kathu-Patong Expressway, which will significantly increase accessibility. Confident in the island's future, we are committing substantial resources to the development of the buildings' architectural features, the use of high-quality materials, and the creation of functional spaces that will set a new benchmark for low-density luxury living.
With the design and planning phase now complete, Capstone Asset is excited to announce our partnership with CBRE as our Master Agent. Their expertise, experience, and network in Thailand will be invaluable in driving the success of the Project. Together, we also welcome leading sales agents to support our global sales and marketing efforts".
Ms. Artitaya Kasemlawan, Head of Residential Sales Project at CBRE (Thailand) Co., Ltd., added, "Strong buyer confidence in Phuket's residential market is predominantly driven by its reputation as a premier vacation destination and its sound fundamentals. Phuket's tourism sector is thriving, with a 42% year-on-year increase in international tourist arrivals by the end of Q3 2024 and hotel occupancy rates reaching 71.5% in the first half of 2024?the highest level in five years. Consequently, the vacation home market has seen tremendous growth, with total annual sales in 2023 rising by 150% compared to 2022, setting a record for the highest annual sales in the island's history. This momentum has continued into H1 2024, with sales on track to break records once again, driven by a remarkable 142% half-on-half increase. This exceptional performance, underpinned by historically robust rental yields, healthy occupancy rates, and steady capital appreciation, has further widened Phuket's appeal as a wealth storage destination.
CBRE is confident that Peylaa Phuket Bang Tao, with its prime location, innovative design, and low-density concept, is perfectly tailored to meet the needs of discerning buyers, whether for personal living or investment. With attractive launch pricing in a buoyant market, we are expecting the Project to generate strong demand from our clients. We are thrilled to partner with Capstone Asset, whose vision and track record in the luxury segment will be instrumental in delivering a truly outstanding development".