Phuket’s The Yamu luxury villa and hotel development has taken on new investors with funding from Singapore tycoon Ong Beng Seng’s Hotel Properties Limited (HPL) and Thailand’s KS Group, thephuketinsider.com has reported. The deal was advised by Singapore’s Jones Lang LaSalle Hotels for Campbell Kane, the developer of The Yamu.
The project, which features Philippe Starck designs and architecture by Jean-Michelle Gathy, was suspended during the global financial crisis but The Yamu is expected to open in 2012. In terms of property for sale, The Yamu will offer 13 pool “club villas” in one and two-bedroom sizes which , when not occupied by their owners, will be rented out as part of the hotel. Also offered will be nine “villa estates” which are large pavilions with complete privacy in four to seven-bedroom sizes.
The HPL Group has interests in almost 40 hotels with over 6,00 rooms in 14 countries including Singapore’s Four Seasons, Hilton, and Concorde and Four Seasons resorts in Bali and the Maldives. In Thailand their holdings include Bangkok’s The Metropolitan Le Meridien Phuket, and Pattaya’s Hard Rock Hotel.
KS Group, headed by Eddie Kiasrithanakorn, mainly sells Honda motorcycles and parts in Vietnam, Cambodia and Laos. The company has segued into hospitality recently with investments in the Alila managed properties in Cha Am, Maldives and Luang Prabang and the Hotel De La Paix in Siem Reap, Cambodia.
Source: Asia Property Report