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Luxury Hotel and Resorts Developer Banyan Tree Holdings Limited is poised to increase their presence in the popular South East Asian Beach Destination of Phuket.
The group will be revitalising and expanding its flagship Banyan Tree Phuket resort to house another two brands. Besides the existing Banyan Tree brand, which is catered to couples and families, Banyan Tree Spa Retreat will be developed to serve the wellness segment, while DPV will be launched to cater to the Luxury Travel market.
These are very exciting times for the Banyan Tree group as it is on the crux of redefining its presence with in the global luxury travel market with its extensive expansion blueprint, which includes countries such as Mauritius, China, Vietnam, India and Philippines amongst others and its plans to revitalise its resorts such as Angsana Bintan, Angsana Velavaru and the already mentioned Banyan Tree Phuket.
Despite its major plans for overseas markets, Singapore, where Banyan Tree is based, is still very much part of the group’s plans, as it seeks to strengthen its brand in overseas markets. Said Mr. Arthur Kiong, Managing Director, Hotel Operations (Asia Pacific) & Group Marketing Services, Banyan Tree, “With a captive market of only 4.5million, Singapore has accounted for 7% of our room nights for 2010, with the 3 most popular destinations being Maldives, Phuket and Bintan.”
The building (the bricks and mortar) can be owned by a non-Thai national outright in their name in what is called the house registry, which secures ownership indefinitely of the structure.
In Thailand, non-Thai nationals cannot own land outright in their name. Land can be controlled through either a Thai Company or a long-term registered lease. The longest registered lease term by Thai law is 30 years, and most developers will offer 3 terms for a total of 90 years.
A 30-year lease period is legally protected under Thai law and ownership cannot be disrupted. It is common for developers to offer an additional two terms of 30 contractually obligating a total of 90 years.
Prior to purchasing a leasehold property, it is important to secure a copy of the lease agreement or get further clarity on these three points:
After you have found the right property at Banyan Tree Grand Residences - Beach Terraces you have to follow these steps:
Construction Payment Term Installment Milestone Payment Reservation Deposit Immediately ฿100,000 1st Installment Upon contract signing 20% 2nd Installment when construction is 25% complete 20% 3rd Installment when construction is 50% complete 20% 4th Installment when construction is 75% complete 20% 5th Installment On completion 20% Deferred Payment Plan Installment Milestone Payment Reservation Deposit Immediately ฿100,000 1st Installment Upon contract signing 20% 2nd Installment when construction is 25% complete 10% 3rd Installment when construction is 50% complete 10% 4th Installment when construction is 75% complete 10% 5th Installment On completion 50%
Banyan Tree Grand Residences - Beach Terraces is located 3.7 km away from 7-Eleven, Khok Tanod Branch, Soi 12 (14167) and it can be reached within 6 mins by car.
There are many other shops situated in the area of Banyan Tree Grand Residences - Beach Terraces, the 3 closest being:
- Chill Chill Market at Canal Village is 3.1 km away (an approx. drive of 8 mins.)
- JT is 2.4 km away (an approx. drive of 5 mins.)
- Canal Village Laguna Shopping is 2.5 km away (an approx. drive of 6 mins.)
The surrounding area, where Banyan Tree Grand Residences - Beach Terraces is situated, offers a wide variety of restaurants. See the closest of them below:
- Sand & Sea Bar is 340 m away (a walk of about 4 mins.)
- Family Beach Restaurant and bar is 580 m away (a walk of about 7 mins.)
- Na Layan - Chef's Table and Alfresco is 2.3 km away (approx. 4 mins. by car)
Bangkok Hospital Clinic Bangtao is the nearest health facility, which is 2.5 km away (you can drive there in 6 mins.) from the project, while the closest schools in the proximity of Banyan Tree Grand Residences - Beach Terraces are:
- Ban Nok Le School is 2.1 km away (an approx. drive of 4 mins.)
- Hand Start is 4.1 km away (an approx. drive of 7 mins.)
- To the is 4.1 km away (an approx. drive of 7 mins.)
Phuket International Airport is located 15.2 km from Banyan Tree Grand Residences - Beach Terraces and it takes about 26 mins. by car or taxi (depending on the traffic) to get there.