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MontAzure. Developing like a boss. Part 1
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MontAzure. Developing like a boss. Part 1

This review will focus on one of the largest and most ambitious projects not only in Phuket but throughout Southeast Asia. We mean MontAzure. We will tell you about this mixed-use development on two of its key phases: TwimPalms Residences, already built on the first line, and the planned MGallery Residences, which will be built in the very heart of MontAzure by Q4 of 2023.

Twinpalms Residence is completed

Twinpalms Residence is completed

MGallery Residences is expected by Q4 of 2023

MGallery Residences is expected by Q4 of 2023

Who is Master Developer?

Subsidiaries of the three largest investment groups have joined forces to construct the most exclusive resort project in Southeast Asia. They include: Narai Group (Thailand), Arch Capital (Hong Kong) and Philean Capital (Singapore). They all specialize in real estate and hospitality business. This is exactly the case when the developer spares no expenses (the entire project is estimated at $600 million), has plenty of experience, and when specialists: architects, designers, contractors and management companies are all of the premier league.

Ceremony of Thailand Property Awards 2019

Ceremony of Thailand Property Awards 2019

Location?

It took several years of searching to find a suitable location for this pproject. Finally, in 2016, a splendid land plot was acquired, which is fully consistent with the scope of the plan: i.e. 73 hectares of prime land in the Kamala Bay area. This picturesque bay surrounded by green hills is notable for its calm pace of living and is popular among wealthy retirees and expats. Smoothly descending from tropical hills, the MontAzure site abuts the Andaman Sea taking 250 meters of the ideal beach. Very few could boast of such a location in Phuket, which makes the project unique compared to the competitors.

In general, the west coast of Phuket is most demanded due to its nice ocean beaches and developed infrastructure. The central regions of the west coast, especially Kamala and Surin, are considered to be one of the most prestigious on the island. It is not a coincidence that the so-called Millionaires’ Mile – an exclusive area with luxurious private villas and upmarket hotels – is located on the slope of the mountain brooded above the Kamala Beach.

73 Hectares. Plenty of space

73 Hectares. Plenty of space

250 meters of pure beachfront

250 meters of pure beachfront

Infrastructure

MontAzure is conceived as a mixed-use resort development comfortably combining residential, commercial and entertainment facilities within a single concept. Well-known brands take part in the project: e.g. The Intercontinental Phuket hotel is already operating on the first line; the world famous Cafe del Mar, as well as the HQ Beach Lounge Restaurant and Shimmer Beachfront Restaurant have been opened nearby. The buildings of the first construction phase, TwinPalms Residences, completed at the end of 2018, are also here.

The InterContinental Phuket

The InterContinental Phuket

The InterContinental Phuket

The InterContinental Phuket

Cafe Del Mar

Cafe Del Mar

Cafe Del Mar

Cafe Del Mar

Shimmer Beachfront Restaurant

Shimmer Beachfront Restaurant

Twinpalms Residences

Twinpalms Residences

The first and second lines of MontAzure are separated by a new wide road, the construction of which, by the way, was also financed by the developer. At the same time, the road will not deliver any inconvenience to the guests of the complex, since there is a tunnel underneath, by which you can easily get to the beach (either by a regular shuttle or on foot). The main territory of MontAzure is across the road. There will be an elegant central entrance, a boulevard for promenades, an area with boutiques and shops, as well as two 5* hotels: Mövenpick is already under construction and the second hotel is only planned.

The InterContinental Phuket

The InterContinental Phuket

The InterContinental Phuket

The InterContinental Phuket

The MGallery Residences MontAzure Lakeside residence will be located 300 meters from the beach. The developer has allocated a large plot closer to the hills for the construction of an exclusive settlement for wealthy retirees managed by Otium Hotels, which will even have its own medical center. There are also a number of land plots left on the hills where boutique 5* hotels will be constructed.

Future view from MGallery roof terrace

Future view from MGallery roof terrace

It should be noted that the master plan of the project provides for the preservation of the vast area of tropical forest on the hills as a nature reserve, which will be improved and presented to the residents of the complex as a recreational area with an extensive network of jogging and trekking paths.

TwinPalms Residences MontAzure

The construction of MontAzure started with the development of the most winning site located right on the first line of Kamala Beach. The first facility of 75 apartments, called Twimpalms Residences MontAzure, opened here in the fall of 2018. The complex consists of 11 three-story buildings grouped around one of two large swimming pools.

Construction of Twinpalms Residences

Construction of Twinpalms Residences

Twinpalms Residences now

Twinpalms Residences now

Twinpalms Residences now

Twinpalms Residences now

Twinpalms Residences now

Twinpalms Residences now

Layout of Twinpalms Residences

Layout of Twinpalms Residences

The building area is about 15,000 square meters and the project was designed by Martin Palleros, founder of the famous Singapore studio Tierra Design. Inspired by the paintings of Piet Mondrian with his symmetrical lines and affinity for maximum simplification, Martin Palleros harmoniously blended the complex architecture into the surrounding landscape. The decoration is designed so as to focus on exposed concrete, wood and tropical greenery. In general, it turned out to be restrained and stylish.

Twinpalms Residences

Twinpalms Residences

Piet Mondrian (1872- 1944)

Piet Mondrian (1872- 1944)

The development infrastructure also keeps its end up and includes:

• Lobby;
• Shimmer Beachfront restaurant;
• 2 swimming pools;
• Gym;
• Library equipped with stationary iMacs;
• Conference room;
• 2 venues for events;
• Operator’s office on site;
• Room Service;
• The staff in the complex is available around the clock.

Kamala Beach

Kamala Beach

Perfect place for breakfast

Perfect place for breakfast

Reception

Reception

Lounge

Lounge

Lounge

Lounge

Fitness

Fitness

Who is managing?

Twinpalms Residences MontAzure will be the eleventh project managed by Twinpalms Hotels & Resorts operator specializing in premium-class hotels and beach clubs. The advantages of dealing with a professional management company are obvious as experience and efficient procedures contribute to good occupancy and, accordingly, profitability. This is confirmed by the fact that Twinpalms Residences has already become a part of the global chain of Small Luxury Hotels of the World (SLH).

More about units

The project provides for 75 units of two types in total:

• 56 one-bedroom apartments (70 to 250 sq.m., including terraces);
• 19 two-bedroom apartments (154 to 400 sq.m., including terraces).

Apartments at Twinpalm Residences

Apartments at Twinpalm Residences

Apartments at Twinpalm Residences

Apartments at Twinpalm Residences

All apartments are offered fully furnished. The interiors are executed in restrained shades of beige and the walls are lined with light wood paneling adding to comfort. High ceilings and floor-to-ceiling windows make every room full of light and air. The living room is combined with the dining room and fully equipped kitchen. Bedrooms with en-suite bathrooms are decorated with great linens. Each living room and bedroom has a private terrace. All ground floor units enjoy private gardens and some of these units come with a private pool. Apartments on the first floor are equipped with spacious balconies (terraces).

Apartments at Twinpalm Residences

Apartments at Twinpalm Residences

Apartments at Twinpalm Residences

Apartments at Twinpalm Residences

The upper levels house the penthouses with exlcusive access to private roof terraces with pool and sun loungers offering sea and hillside views. In general, everything is done with high quality and taste: from materials and plumbing to furniture and decorative elements. If you wish, you can combine two units and get spacious apartments with three or four bedrooms. By the way, there is one special 4-bedroom penthouse of 800 sq.m. It occupies the entire top floor and a huge private roof terrace with a pool.

Apartments at Twinpalm Residences

Apartments at Twinpalm Residences

Apartments at Twinpalm Residences

Apartments at Twinpalm Residences

Apartments at Twinpalm Residences

Apartments at Twinpalm Residences

Private rooftop terrace

Private rooftop terrace

Terms

The undoubted advantage of buying apartments in Twinpalms Residences MontAzure is the possibility to make them your permanent residence. Unlike in many other residential complexes, it’s not obligatory to place your property under the management of an operator.

Private rooftop terrace

Private rooftop terrace

The management company offers a guaranteed income program of 5% of the cost for the first 3 years for those owners who primarily consider this purchase as a business investment (the developer offers as much as 7% for some units as a special offer). Following the first three years of guaranteed income, the owners become the participants of the so-called Rental Pool program at a 60/40 ratio. In more detail, it is a system where the management company (operator) receives 60% of the total revenue from renting (out of which it pays all the associated costs for maintaining the complex, salaries, marketing expenses, etc.) and the owner receives 40% of the total revenue. Someone may say that this is unfair, but be sure – this is an international standard of relations between owners and professional operators. The only payment you will have to do on a regular basis is a small monthly fee of THB 80 (≈ $ 2.6) per square meter.

Below is an example explaining in more details how the Rental Pool program works:

Days per year: 365
Occupancy: 50% on average
Number of days per year when an apartment is occupied: 183
Average unit rent: $400/day
Total revenue: $73,200
Owner’s share (40%): $29.280

Apartments at Twinpalms Residences

Apartments at Twinpalms Residences

By the way, it should be noted that those wishing to place the apartment under management must comply with a number of restrictions. First of all, you cannot change the interior and furniture in any way. Your apartments must meet the strict Twinpalms Hotels & Resorts standards. Secondly, you will have a certain quota for using your accomodation for personal purposes, namely 45 days a year for yourself and your friends. Moreover, depending on the season, the value of days will be calculated differently as a day in the low season is not equal to one day in the peak season.

Thus, potential buyers are free to select between living in apartments or joining a rental program.

Twinpalms Residences

Twinpalms Residences

Prices

Most of the units are already sold with only a few left. The price depends on such aspects as the form of ownership (Freehold or Leasehold), unit type, floor, view from the window and location of the building. By the way, those who are not aware how the buying procedure in Thailand looks like or what is the difference between Freehold and Leasehold can read our article “Buying real estate in Thailand: Peculiarities and Nuances”.

Prices for one-bedroom apartment (81 sq.m.) start from THB 12,500,000 (≈ $ 418,000)

The cost may change and is subject to confirmation.

Twinpalms Residences

Twinpalms Residences

Payment procedure

To reserve an apartment, you should pay THB 200,000 (≈ $ 6,400)

50% – upon signing the contract (within 1 month)
50% – on the handover & registration

A one-time sinking fund fee in the amount of THB 700 (≈ $ 22) per square meter shall also be paid.

Kamala Beach

Kamala Beach

Conclusions

Let’s be honest: the entire MontAzure concept is aimed at very wealthy people who are ready to pay much for the opportunity to get a top product. Especially when it comes to the most “delicious” (beach) piece of this megaproject. Buying an apartment at Twinpalms Residences MontAzure is a unique and one might say the last chance to purchase a premium-class property on the first line of Kamala Beach. You get the absolute beachfront on a gorgeous beach with great infrastructure, which is the exception rather than the rule in Phuket. Thanks to this, no doubt that this project will always be in demand both among tourists and among potential buyers, if you suddenly decide to sell your apartments later.

Pros:

• Excellent location on the first line of the wonderful Kamala beach;
• Smart zoning of the complex and an abundance of greenery;
• Stylish exterior and interior design;
• Good internal area of apartments and the ability to combine several units;
• High quality finishing materials, furniture and plumbing equipment;
• Excellent infrastructure within the MontAzure concept;
• Professional management company ensuring stable rental income;
• Possibility to permanently reside in apartments;
• The project has already been completed and is operating successfully.

Cons:

• High price.

We dedicate the second part of our MontAzure review to the next, scheduled phase called MGallery Residences MontAzure Lakeside. Read the article here.

Twinpalms Residences MontAzure

Twinpalms Residences MontAzure

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