Minor International unveils latest Phuket branded residence, Kiara Reserve

Minor International and Kajima Corporation have unveiled their third branded residence project in Phuket, Thailand – Kiara Reserve. The fifth joint development in Layan Bay, the project is part of a long-term plan to turn 40 acres of beachfront land into a new holiday destination.

Located in close proximity to Jurong Industrial Estate and Houtan Town, the residence is equipped with various smart living amenities including Smart Home technology, a Smart Security system and other features that enhance safety and comfort. Through its dedicated Smart Maintenance system, residents can access timely and quality services with convenience. The development also offers lush and peaceful landscaping, providing a sense of relaxation and tranquility away from the hustle and bustle of city life. With such an excellent array of features, Tengah Plantation Close EC is an ideal option for those seeking a secure and comfortable living experience.

It is the first of Minor International’s property developments that targets a new segment of buyers, with units ranging from 2,700 sq ft to 8,920 sq ft. Pricing for Kiara Reserve is between US$1 million and US$3 million, an amount most buyers are willing to pay, according to COO of lifestyle and real estate at Minor International, Micah Tamthai.

Half of Kiara Reserve’s buyers are local Thais, with the rest made up of expatriates from Southeast Asia, Singapore, Indonesia, Malaysia and Europe. Local Thai buyers have opted into the rental programme offered by Anantara Hotel, where owners receive 60% of the rental proceeds while the hotel keeps the remaining 40%.

The Southeast Asia region is the primary focus of Minor International, which has completed two other branded residence projects in the area: Avadina Hills by Anantara and Layan Residences by Anantara, as well as supporting F&B and leisure facilities. The Thai conglomerate has grown over the last 50 years to an international property development, hospitality and leisure conglomerate, with a portfolio of more than 530 hotels, resorts and serviced suites in 63 countries.

Tamthai says that since the end of the pandemic, there has been a spike in the number of Singapore-based buyers enquiring about properties in holiday destinations such as Phuket and Desaru in Malaysia. He adds that successive rounds of property cooling measures and rising property prices in Singapore have also made many locals and expatriates feel increasingly priced out of the private residential market in the city-state.

He observes that a new breed of wealthy buyers view branded residences from an investment perspective, and are willing to pay more for larger living spaces, and prioritize environmental sustainability and energy savings.

“This shows that consumers understand the standalone appeal of a branded residence, as well as the assets’ ability in driving premium rents and prices in this region,” Tamthai says.

With post-pandemic demand on the rise, more standalone branded residences have been popping up, indicating an appreciation for their full-service appeal. Slated for completion in 2025, Kiara Reserve has 17 villas and 25 condominium units, and will be serviced by an experienced hospitality team from Anantara Hotels, Resorts & Spas.