Apex plans 4 ho­tels on 400 rai in Krabi


SET-listed de­vel­oper Apex De­vel­op­ment Plc plans to de­velop four ho­tels with res­i­den­tial units for in­vest­ment buy­ers on a 400-rai plot on Long Beach in Krabi.

Chief ex­ec­u­tive Pong­phan Sam­pawakoop said Krabi is one of the tourist des­ti­na­tions by the An­daman Sea with the high­est po­ten­tial. Krabi is close to Phuket and has its own in­ter­na­tional air­port that can ac­com­mo­date up to 8 mil­lion tourist ar­rivals an­nu­ally.

“The global tourism in­dus­try is very healthy. Peo­ple are trav­el­ling a lot more as the econ­omy has im­proved,” he said. “Krabi is boom­ing be­cause of its charm, such as at­trac­tive ge­og­ra­phy with a lot of moun­tains, is­lands and world-class div­ing spots.”

Apex ac­crued mul­ti­ple plots span­ning 400 rai on Long Beach last year, in­clud­ing one kilo­me­tre of beach­front to de­velop four dif­fer­ent ho­tel chains and res­i­den­tial units tar­get­ing in­vest­ment buy­ers.

The first phase com­prises Club Med Krabi, Re­sort & Res­i­dences on 100 rai worth 3.8 bil­lion baht. Apex signed with Club Med last month to op­er­ate the prop­erty. There will be 300 ho­tel rooms and 50 vil­las for sale.

Set to be launched in Septem­ber 2018, the vil­las will have us­able area start­ing from 65 square me­tres and priced from 10 mil­lion baht a unit. They will be sold un­der a rental pro­gramme that will al­low unit own­ers to stay 30 days an­nu­ally.

“The lo­ca­tion is iso­lated, which fits the Club Med con­cept,” said Mr Pong­phan. “We are talk­ing with other ho­tel chains to op­er­ate the next three phases at this project un­der the same con­cept as ho­tels and res­i­dences.”

Some of the chains it is talk­ing with are Mar­riott In­ter­na­tional, Hy­att, In­ter­Con­ti­nen­tal Ho­tels & Re­sorts and Ac­corHo­tels Group.

The next three phases will have a project value of 3.5 bil­lion baht each.

He said the de­vel­op­ment will take four years to com­plete, with the first phase tar­geted to be ready by 2021.

Fund­ing will be se­cured through a cap­i­tal in­crease of 500 mil­lion baht, which was post­poned from last year, and war­rant is­suance of 250 mil­lion baht.

“We have held talks with an in­vestor from Hong Kong to form a joint ven­ture for some of our projects. Cap­i­tal from sell­ing shares will sup­port our de­vel­op­ment plan this year,” said Mr Pong­phan.

He said the com­pany turned down a deal on Pa­tong Beach last year for a joint ven­ture to de­velop a ho­tel and re­tail project.

Apex has two other projects in Phuket. One will be lo­cated on 14-rai on Mai Kao Beach. The other will be sit­u­ated on a 20-rai plot on Nai Yang Beach, for which talks are on­go­ing.

The com­pany has two projects un­der de­vel­op­ment, in­clud­ing Sher­a­ton Phuket Grand Bay Re­sort & Res­i­dences, fea­tur­ing 183 ho­tel rooms lo­cated on 66 rai in Ao Po, Phuket. The project is ex­pected to cost 1 bil­lion baht. The Ao Po site will also in­clude 101 res­i­den­tial units for sale worth 2.2 bil­lion baht, with 70% sold since the launch in late 2016.

An artist’s ren­di­tion of Club Med Krabi, Re­sort & Res­i­dences.

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