Price: from 10 million baht (from $303,000)
Price per square meter: from 213 thousand baht (from $6,450)
Number of buildings: 24
Number of units: 227
Beach: Kamala
Location: https://maps.app.goo.gl/TfZdYtdQCGVCSFji7
What will be in the complex: Restaurant, gym, lake, swimming pools, waterfall.
Brief description:
MontAzure is a mega-project in the northern part of Kamala Beach with an area of 454 rai (73 hectares): the first luxury segment project in Phuket (at the level of the best branded residences in Dubai), an alternative to Laguna in Bang Tao with a high chance of overtaking it. The general developer is formed by three of the largest investment houses in Southeast Asia from Thailand, Singapore and Hong Kong. According to the developer, Kamala is the best place to launch such a project, which is also confirmed by the fact that the residence of the King of Thailand and the recently opened first Hyatt in Phuket are located on Kamala's millionaires' mile.
The project's infrastructure already includes some of the best hotels in Phuket Intercontinental and Twinpalms MontAzure, the best restaurants on the island Hom and Cafe Del Mar, the best spa (in the Intercontinental infrastructure). Confirmed future participants in the project are the Botanica MontAzure villas and the Mövenpick hotel.
At the moment, the construction and sale of apartments is underway in the branded residence MGallery Residences MontAzure. It is located 380 meters from the coastline of Kamala Beach and these are the first branded residences of MGallery in Thailand.
The gated community has 24 buildings (blocks) from 2 to 6 floors with a total of 227 apartments: studio apartments from 47 sq.m to 54 sq.m (4 studios on each floor) and 1-bedroom apartments from 60 sq.m to 73 sq.m (3 apartments on each floor).
The project will be located on two artificial lakes, the water of which will flow through the existing riverbed created by the developer through waterfalls to solve the main problem of the Laguna lakes: the movement of water and waterfalls will ensure the cleanliness of the reservoirs and allow them to be populated by fish that feed on mosquitoes.
What about investments?
The rental and/or management will be carried out by the MGallery hotel group, which is part of the international ACCOR hotel group.
All studios and 1-bedroom apartments. apartments in blocks A2-A6 must be in a rental program without the right to exit for a period of 15 years (resale is possible, but the buyer will also get the rest of the rental program term).
At the same time, owners can live in their apartments for 45 days annually. The group also provides a *flipping program* available from the second year of ownership - if the owner does not want to spend his vacation in Thailand, he can use his free-stay to stay in partner hotels in other parts of the world (at the moment, a partnership with Fairmont hotels has been confirmed).
The rental program will be in the form of a rental pool, where the income will be distributed as follows:
40% - to the owner and 60% - to the operator from GROSS INCOME (that is, the management company's expenses for towels, shower gels, etc. do not affect the owner, but are deducted from the share of the management company). For conservative investments, you can choose a fixed income program of 6% for 3 years, and in this matter the developer has a trump card - TwinPalms MontAzure (the first project of the general developer) did not recognize the COVID-19 pandemic as force majeure and paid a fixed income to all participants.
The developer expects an increase in value after delivery of 10-15% from current prices and the same growth in capitalization ahead of the market annually as additional projects are implemented.
Fin. MGallery's rental yield model is kept a commercial secret, and it is difficult to predict rates for such a mega-project (and a new one for the island, class 0). But you can be sure that as the project develops, the profitability of the complex itself will grow, and in total, the growth of capitalization and rental income will outpace the market.
You can focus on the TwinPalms MontAzure project, which costs guests from $220-320 per day in the low season to $670-1100 in the high season (subject to booking 6 months in advance). It is also worth noting that now, in the midst of the low season, the hotel shows excellent occupancy.
Completion of construction - end of March 2025.
