Banyan Group Residences has appointed a full-time sales team in the UAE and Saudi Arabia, marking a significant move as the first Thailand-listed developer to establish a dedicated presence in the Middle East. This expansion comes amid a surge in international interest in luxury real estate in Phuket, particularly from the Middle East.
Managing Director Stuart Reading noted, “The initial response has been encouraging, and we’ve already had quite a few investors come over to view our properties.” He attributed the increased interest to factors such as Phuket’s agreeable climate, high-quality lifestyle, safety, and the welcoming international community.
Banyan Group plans to release US$1 billion worth of new luxury residential real estate in Phuket over the next two to three years, with potential expansion to US$4.5 billion over the next 5-10 years.
The company’s flagship development, Laguna Phuket, spans over 1,000 acres and includes seven world-class hotels, an 18-hole golf course, luxury spas, and approximately 3,000 branded residences.
In addition to Laguna Phuket, Banyan Group has launched Laguna Lakelands, an eco-friendly residential community set in one square kilometer of lush tropical forests and lakes. This development aims to add 5,000 new residences over the next 3-4 years.
The company offers a range of services to facilitate the purchasing process, including developer financing with deferred payments for up to five years.
Banyan Group’s expansion into the Middle East reflects the growing demand for luxury properties in Phuket and the company’s commitment to providing high-quality residences and services to international investors.
Caption: Banyan Group Residences appoints full-time sales team in UAE and Saudi Arabia to cater to growing demand for luxury Phuket properties.
