• 
• 

Published on February 25, 2008

Boathouse Hua Hin expects presales of Bt1.5 billion this year for the second and third of four condominium buildings in its residential project that are altogether worth nearly Bt6 billion.

The company has also changed the design of some of the villas in the project from one storey to two-storey to match the demand from the strong retirement market.

The new two-storey villas will be priced lower than Bt10 million per unit, said Boathouse Hua Hin managing director Praphaisith Tankeyura.

The starting price of the two- and three-storey villas currently on sale is Bt13 million per unit, up by Bt1 million from the starting price last year.

Praphaisith said the company had increased prices by 5 to 10 per cent due to rising construction costs.

The Boathouse Hua Hin project is at Kilometre 222 on Phetchkasem Road in Prachuap Khiri Khan's Hua Hin district.

The project covers 72 rai and has a beach front. It will have four condominium buildings with a total of 600 apartments, starting at Bt2.39 million for a 42 square metre unit, and 100 villas. Knight Frank Chartered (Thailand) will manage the project after it is transferred to buyers.

Boathouse Hua Hin has recorded sales of Bt2.5 billion from the project between its launch in 2004 and the end of last year.

The company has registered capital of Bt200 million and is owned 78 per cent by the Chinthammit family, with the remaining 22 per cent held by Praphaisith.

The sale and transfers of the first condominium building and two villas in the Lagoon 1 area were completed last year.

The Bt1 billion from the transfers was booked as the company's revenue for last year.

The project's infrastructure is also complete, including a clubhouse and swimming pool costing Bt520 million.

"Our customers, who are already staying there now, will enjoy our clubhouse and total green area of 5,300 square metres. That is our selling point and difference from other residential projects in the area," Praphaisith said.

The company expects to sell off all the units in the project within the next two or three years, he added.

Somluck Srimalee

The Nation

Hua Hin, prachuap khiri khan