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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.
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.
#1 - Who is the lessor? (an individual or a Thai Company) Securing a lease from a Thai Company offers much more security than a private individual.
#2 - Do I have voting rights as a Lessee? (Some lease contracts do not allow lessee to have voting rights)
#3 - Is there a succession clause in the lease agreement that will allow inheritance of the lease?
What is the process of a property purchase in Thailand?
After you have found the right property you have to follow these steps:
Unit selection and agreement of terms and conditions
Sales and Purchase Agreement
1st Contract Payment
- American International Education at the door of the house
- Direct access to UWC International School 3 minutes drive; UWC School's Family Zone;
- The largest golf course in the center of the house
- Two major golf courses in the middle, including Southeast Asia's most famous Blue Canyon Golf Course
- Large warehouse supermarket / easy shopping, 3 minutes drive from Phuket's largest Makro and Tasco
- Convenience to walk / 7-11 , KFC, AMAZON coffee shop
1. Phuket International Airport 8.2 km
2. Blue Canyon Country Club 5.1 km
3. Mission Hills Phuket Golf Club Resort and Spa 3.9 km
4. Bang Pae Waterfall 5.0 km
5. Laem Sai Pier 6.9 km
6. Thalang Post office 100 m
7. Cafe Amazon 100 m
8. KFC 100 m
9. 7-Eleven 100 m
10. Muangthalang School 1.1 km
11. UWC Thailand International School 3.2 km
12. Thalang Police Station 5.0 km
13. Thalang Hospital 6.2 km
14. Tesco Lotus Thalang 6.4 km
15. Makro Thalang 6.5 km
16. Home Pro 6.7 km
17. Robinson(Central) 11.4 km
18. Blue Tree Phuket 12 km
19. Porto de Phuket 11 km
20. Bang Tao Beach 11 km
21. Nai Thon Beach 12 km
22. Splash Jungle Water Park 9.5 km
23. Mai Khao Beach 10 km