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Utilising their extensive experience and knowledge on Australian design and construction, injected a sum close to 2 billion Thai Baht into the development of the properties. IPA Corp formed the Utopia Development business unit, and currently having 6 progressing projects in Phuket island.
A significant and unique benefit for our investors of Utopia Development projects, Utopia Development has sole ownership of all the land planned to be developed, and with the capital provided by IPA Corp rather than from the Thai banks, this provides the client with peace of mind of the capital ownership of the whole project entity.
In February 2016, Utopia Development, together with the island’s largest builder, Hatyai Nanthakorn (HYN), developed and completed the first project, Utopia Kata (UTK) at Kata Beach consisting of 20 serviced apartments.
Utopia Naiharn Villa and Condo (UTN) was launched in April 2016 with one of Phuket’s longstanding family construction companies, House and Home – House Care services (H&H) engaged to develop and construct the project consisting of 110 Hotel Condominiums and 9 Villas. This project was recently completed in September 2018.
In February 2017, Utopia Development again with H&H launched the third project – Utopia Loft (UTL) at Naiharn Beach, comprising of 236 luxury loft styled Hotel condominiums to complete the Utopia Naiharn Resort project. The completion of UTL is anticipated in October 2019.
The success of the UTK and UTN projects, In April 2017, Utopia Development partnered with H&H to form Utopia Construction Group. The fourth project was then released – Utopia Central (UTC) to cater for the entry level buyers. This hotel condominium consists of 405 units and is located in the Central Festival of Phuket shopping mall, Phuket town centre, hospitals and schools. With construction commenced, the estimated completion date for this project is currently at February 2020.
Due to high demands and rapid success, in July 2017, Utopia Construction Group launched Utopia Development’s fifth project, Utopia Karon (UBR) at Karon Beach, a joint venture project with BQ Overseas. This project offers stunning views of Phuket’s beautiful Andaman Sea, and consists of 238 units having both Freehold and Leasehold ownerships available to our investors and buyers.
BQ Overseas entered into another joint venture development in April 2018, Utopia Maikhao (UBM), with Utopia Construction Group overseeing the Development and Construction works. Construction has commenced for this 92 Luxury Villas in the northern seaside of Phuket, with an anticipated completion in February 2021.
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.
After you have found the right property at Utopia Maikhao you have to follow these steps:
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.
Thailand has different visas like Spousal Visa, Retirement Visa, Student Visa and Elite Visa - just to name a few options. Each visa has different requirements but they are usually easy to obtain.
Utopia Maikhao is located 1.7 km away from Seven Eleven PTT Gas Station Mai Khao (7-11 @ PTT Gas Station.Mai-Khao) and it can be reached within 2 mins by car.
There are many other shops situated in the area of Utopia Maikhao, the 3 closest being:
- Anda Electric Company (Mobile office) is 0 m away (about 1 min. by foot)
- Dome Dome grocery store is 8.3 km away (an approx. drive of 8 mins.)
- Ban Bang Ko Curry Paste is 7.9 km away (an approx. drive of 9 mins.)
The surrounding area, where Utopia Maikhao is situated, offers a wide variety of restaurants. See the closest of them below:
- Spicy Salad is 420 m away (a walk of about 6 mins.)
- Supaporn Shop is 450 m away (a walk of about 6 mins.)
- Wasana Restaurant is 590 m away (a walk of about 8 mins.)
Thalang is the nearest health facility, which is 8.9 km away (you can drive there in 12 mins.) from the project, while the closest schools in the proximity of Utopia Maikhao are:
- Ban Mak Prok School is 450 m away (about 6 mins. by foot)
- Ban Mark Prok School is 390 m away (about 7 mins. by foot)
- monument is 5.0 km away (an approx. drive of 5 mins.)
Phuket International Airport is located 10.8 km from Utopia Maikhao and it takes about 13 mins. by car or taxi (depending on the traffic) to get there.