Joint venture to develop senior living village in Phuket

Real Estate July 12, 2017 17:34

By The Nation

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A joint venture company, Kamala Senior Living Co Ltd, has been set up to develop an upscale Lifestyle Senior Living Village worth Bt3.5 billion in Phuket.



 

 

The company is a partnership between property firm Nye Estate Co Ltd, Chewathai Public Co Ltd, LPN Development Plc and CH Karnchang Plc. 

The project would be equipped with a full range of facilities and amenities, and managed by a leading international property management service provider.

Ornruedi Na-Ranong, CEO of Nye Estate Co, said the establishment of Kamala Senior Living derived from a common interest among the joint venture partners in developing a high-quality project for the elderly with international standards.

She said it would “capture the demographic trends of aging society which are currently emerging in many regions across the world”.

Nye Estate Co will hold 28.5 per cent of Kamala Senior Living Co, with Chewathai Plc and LPN Development holding 25 per cent each. CH Karnchang Real Estate Co Ltd, a subsidiary of CH Karnchang Plc, will hold 20 per cent, and the general public will hold 1.5 per cent.