Tuesday, December 8, 2009
Year End Promotion
Wednesday, December 2, 2009
Long Live His Majesty the King

The Kingdom celebrates His Majesty's 82nd birthday on Dec 5, 2009.
(Source : www.tourismthailand.org, www.kanchanapishek.or.th) |
Monday, November 9, 2009
Thailand Property Awards 2009
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Best Villa Development (Samui) :
The Mandalay Villas
Over 1000 nominations and record number of entries. Toughest year yet.
After a long and thorough judging process, the winners of the 2009 Thailand Property Awards were announced at a lavish five-star Gala Dinner at the Grand Hyatt Erawan Bangkok. Over 450 attended the Gala Dinner and awards presentation to find out who were this year´s best-of-the-best.
Now in their fourth year, the Thailand Property Awards recognise not only the winners of each award, but they also assist in promoting the high level of quality of Thailand´s real estate, construction, architectural and interior design as well as industry professional services, and through a professionally-run awards system helps put Thailand real estate on the world stage.
“We received more than 1,000 nominations this year – a 300% increase on last year. And then from the entries, the judges had to draw up a short-list for each category, and from that short-list select the winner. The judging process was more rigorous than ever this year, having a central Bangkok panel make the initial short-lists and provincial teams undertake site inspections for the condo and villa categories. The final list of winners was delivered by the central panel to BDO Richfield Advisory Limited for safe-keeping, with the winners being announced at the Gala Dinner,” commented Duncan Worthington, Managing Director of Ensign Media, organisers of the awards and publishers of Property Report publications.
After a long and arduous process of nomination, entry and judging, the winners of the 2009 Thailand Property Awards are:
- Best Developer – TCC Capital Land.
- Best Boutique Developer – Dhevatara Properties.
- Thaizeit Best International Agent – CB Richard Ellis (Thailand) Co. Ltd.
- Best Thailand Agent – Indigo Real Estate Co. Ltd.
- Prestige Thailand magazine Best Villa Development (Thailand) – Andara Villas by Andara Phuket.
- Royal Institute of Chartered Surveyors Best Condo Development (Thailand) – The Heights Phuket by Raimon Land PLC.
- British Chamber of Commerce Thailand Best Housing Development (Bangkok) – The Royal Residence by TCC Capital Land Ltd.
- Phuket Post Best Villa Development (Phuket) – Andara Villas by Andara Phuket.
- Best Villa Development (Eastern Seaboard) – The Village at Horseshoe Point by Horseshoe Point Co. Ltd.
- Best Villa Development (Samui) – The Mandalay Villas by Ban Mandalay Co. Ltd.
- Best Villa Development (Hua Hin) – Nishaville by KIJ Development.
- The Wall Street Journal Asia Best Condo Development (Bangkok) – The Address Chidlom by Asian Property Development Public Company Limited.
- Limcharoen Hughes & Glanville Best Condo Development (Phuket) – Andara Residences by Andara Phuket.
- Best Condo Development (Eastern Seaboard) – The Sanctuary Wong Amat by Daika Estate Co. Ltd.
- Best Condo Development (Samui) – Infinity Samui by Vertuz Development Co. Ltd.
- Best Condo Development (Hua Hin) – Baan Ing Phu by Baan Ing Phu Co. Ltd.
- Signity Thailand Green Development Award – Horseshoe Point by Horseshoe Point Co. Ltd.
- Gaggenau Best Architectural Design – Andara Phuket by Andara Phuket.
- Studio Gypser Best Interior Design – The Sukhothai Residences by HKR International Ltd.
- Deluxe Property Vietnam magazine Best Agent Website – www.cbre.co.th.
- I-Marketing Best Development Website – www.sukhothairesidences.com.
- Luxury Properties magazine Best Print Advertisement – W Koh Samui Retreat & Residences.
- Property Report Thailand Real Estate Personality of the Year – Settha Thavisin, President of Sansiri PLC.
“The awards grow in stature every year and we are happy to see many new winners this year and a good number from around the country. While we don´t announce second or third place, all entries that made the short-lists and the top three in each category that were announced at the Gala Dinner should be very proud of their achievement as the number and quality of entries this year were exceptional,” added Worthington.
“We have been involved in the awards since the beginning and again this year our role was to oversee the process - to ensure the nomination and entry stages were carried out within the rules and that all entries met the eligibility criteria for the respective awards. We were present in all the central judging panel meetings to ensure all was carried out fairly and transparently. We received the final list of the winners from the judges, verified scores and that winners again met the eligibility criteria and informed the organisers of the chosen winners. Neither ourselves or the organisers allocated any points or influenced any judging and we are confident that the awards were indeed thorough and fair," said Paul Ashburn, Senior Partner of BDO.
This year there were 23 awards – two new additions were Best Villa Development (Thailand) and Best Condo Development (Thailand). These two awards were eligible only to completed developments, distinct from the provincial awards which are eligible to developments under construction. In total, there were 7 winners from Bangkok, 3 from the Eastern Seaboard, 6 from Phuket, 4 from Samui and 2 from Hua Hin.
The Property Report Real Estate Personality of the Year award is decided and presented by Property Report Thailand magazine. There is no nomination and entry procedure for this award and the decision for the winner is made by the Property Report Thailand team. This year, the award was presented to Khun Settha Thavisin, President of Sansiri PLC. Khun Settha has long been a leading light in the Thailand real estate industry, and this year Khun Settha has guided Sansiri´s growth with the launch of numerous new condominium and housing developments in these challenging times.
“We´d like to offer our congratulations to all deserved winners. So many people are involved in making the awards a success and in these difficult times we are proud to see so many people take part in the awards and join us at the Gala Dinner to celebrate with the winners and to acknowledge the successes of the industry at large,” concluded Worthington.
Sponsors of the 2009 Thailand Property Awards included: Gaggenau, Limcharoen Hughes & Glanville, ENLIGHTENED™ - Swarovski Elements, Studio Gypser. Media Partners included: Deluxe Property Vietnam magazine, i-Marketing, Luxury Properties magazine, Phuket Post, Prestige Thailand magazine, Property Report Thailand magazine, REIDIN.com, SMART Investment & International Property Expo, Thaizeit magazine, The Wall Street Journal Asia. Supporting Associations included: British Chamber of Commerce Thailand, The Lighthouse Club Bangkok and Royal Institute of Chartered Surveyors Thailand. The judges was supervised by BDO and the 2009 Thailand Property Awards was organised by Ensign Media Co. Ltd.
For more information, and to see a large selection of pictures from the evening, visit the Gallery on www.thailandpropertyawards.com.
Sunday, November 1, 2009
Loi Krathong - Festival of Lights 2009

LOI KRATHONG – FESTIVAL OF LIGHTS
Festival Day 2nd November 2009
(by Harry Bonning)
As the full moon of the twelfth lunar month (usually in mid-November) lights up the night sky, throughout the Thai kingdom,
hundreds of thousands of ornately-decorated krathong or traditional banana leaf floats are set adrift in rivers and waterways in a spell-binding ritual called Loi Krathong — the 'festival of lights". This is one of the Kingdom's oldest and best-preserved traditions. The Loi Krathong tradition we know of today has evolved from the royal rituals of the early Rattanakosin period in which several types of lanterns were set afloat in the Chao Phraya River and its waterways. The practice was subsequently adopted and adapted by common folk. Krathong floats are made from basic materials easily found around the village and reflect the simplicity of life beyond the palace walls. They typically take the shape of lotus in full bloom, swans, chedis (stupas), and Mount Meru from Buddhist mythology. However krathong floats in the shape of lotus blossoms are most popular.

The Origins of Loi Krathong
There are various fascinating accounts about the origins of Loi Krathong. It is not known as to when the tradition first began but authorities speculate that it is of Indian origin and based on the "Deepavalee" ritual which is also accompanied by floating lights in an act of worship of the Brahmin gods — Brahma, Siva and Vishnu, or an act of remission to the Indian Ganga or Ganges. According to another school of thought, the ritual is said to be based on ancient Buddhist tales and is undertaken to pay respect to the sacred footprint of the Lord Buddha on the bank of the mythical Nammadhammahantee river. However, given the river-based culture that formed the foundation of the traditional Thai way of life, Loi Krathong evolved into a ritual in which offerings are made to Mae Khongkha — Mother of Waters, the Thai equivalent of the Hindu goddess of water, in an expression of gratitude for providing life-sustaining water throughout the year. It is also believed that the offering are made in an act of appeasement to beg her forgiveness for Man's carelessness in polluting the pristine water that nourishes all life. Over time the tradition spread throughout the country. Some believe that by setting the krathong adrift, one symbolically casts away one's grief, misery and ill-fortunes to the extent that there are bizarre tales of the superstitious placing tufts of hair or clipped finger-nail into the krathong in the hope of ridding themselves of a spell of bad luck or misfortune. Coins are also placed in the krathong as offerings. For the romantic at heart and young couples, Loi Krathong is the time to make wishes for happiness together and success in love. At dusk, as the full moon begins to rise, the krathong is decorated with fresh flowers and the candles and incense sticks are placed in the krathong. The float is then taken to a waterway where the candle and incense sticks are lit and the krathong set adrift. The floats are carried downstream by the gentle current, candlelight flickering in the wind. The lighting of fireworks is undertaken in the same spirit as when lighting candles in an act of worship so fireworks displays are very much an integral element of the secular and religious rituals performed. Soon after, attention turns to celebration. The evening's festivities consist of impressive firework displays, folk entertainment, stage dramas, song and dance. Scenes as described in ancient Thai literary accounts are still very much in existence today.

Loi Krathong customs and traditions reflect local beliefs and cultural evolution. Interesting regional variations can be seen. In Tak province, the banana-leaf floats are replaced by coconut shells which are threaded together and launched simultaneously so they appear as long chains of hundreds of glittering lights on the Ping River, hence the origin of its name, Loi Krathong Sai. In the Northern Thai provinces that were once part of the ancient Lanna Thai kingdom, the Yi-peng Northern Lantern Festival is still being celebrated. Tubular lanterns, resembling hot air balloons, are lit and released into the night sky as an offering to the Lord Buddha. As hundreds of illuminated lanterns drift into infinity, this conjures the same sense of wistful closure as the krathong float downstream.
Monday, October 12, 2009
Concept of the Century

Stratified Hotel Ownership
(by LifeStyleByTheSea Magazin - October 2009)
Hotels differ significantly from apartments and condominiums in terms of ownership, investment return, operations and management, and even in physical form. Stratified Hotel project developers attempt to ‘title-deed’ each hotel room and sell them off to individual investors. Comparing with traditional condominium projects, these hotel units offer new attractions such as higher profile, better management, better appreciation prospect, higher yield, free use periods, etc. To the developers, these same features also make their products much more saleable and at higher prices. Because the hotel’s operation could generate a yield, this would provide
sustainability for the developer which in turn would allow them to hold out their positions longer, and many times to be able to reap in more profits on the rising price curve when the hotel’s opening is drawing near, and its physical form taking shape. Prices generally continue to rise after opening as marketing is facilitated by the
exposure to a wider group of potential of buyers in the form of hotel guests, coupled with a true demonstration of a vacation experience now made possible in a real-life setting. However, the best of the both worlds would require more planning and diligence than mere wishing thinking.
Comparison of Stratified Hotels vs. Condominiums by the UNIT OWNER’S Perspective :
Stratified Hotels vs. Condominiums
Price/Area Factors
1. Unit size (net)
Branded Apartment: 50 to 65 Sq.m.
Condo : 65 to 200+ Sq.m.
2. Price per Sq.m.
Branded Apartment: 50+% higher than Condominiums
Condo : Furniture package sold as extras fully furnished
3. Unit price
Branded Apartment: Overall lower because of smaller unit size
Condo : Higher because of larger average unit size
4. Turnover Rate
Branded Apartment: Higher because of smaller investment
Condo : Lower because of many more larger units
Management Factors
5. Service Standards
Branded Apartment: Higher
Condo : Lower
6. Maintenance Standards
Branded Apartment: Higher
Condo : Lower
7. Charges
Branded Apartment: Absorbed in hotel operations
Condo : Separate and detailed
8. Control & Uniformity
Branded Apartment: Entire Property-all units
Condo : Public Area Only-rest is case by case; owners have right to appoint different agents/companies to management the inside of their units
9. Overall Confidence In Management Rental/Yield
Branded Apartment: Higher
Condo: Lower
10. Rental Management
Branded Apartment : Hotel management company
Condo : Separate agents representing separate owners are common
11. Rate per Sq.m.
Branded apartment : 150 to 200+% higher than condominiums
Condo : Lower because of “whole-selling time and size”-longer stay and larger units
12. Occupancies
Branded apartment : Uniform and smaller Product Saleable
Higher-60 to 70% over the long run
Condo : Varying products and larger units are much more difficult to sell
Lower-20 to 30%
13. Costs
Branded apartment : Absorbed in hotel operations
Condo : Separate and detailed
14. Yield
Branded apartment : 5% in the near term, 10 to 15% in the longer terms,increases over time
Condo : Struggling to meet management and refurbishment cost. Negative rates yields are common;run down over time
Self-use
15. Self-use periods
Branded apartment : Generally 21 days to 30 days,weighing factors for slow and peak seasons vary among locations and properties
Condo : Owner decides
16. Quality of service & other facilities
Branded apartment : Higher because of hotel standards
Condo : Lower as lack of revenue sources forbids the setting up comprehensive management and operation infrastructure, consequently standards could not be kept high
My comments : our optional Rental Program is providing 60 days complimentary stays, and our prices are still below the condo market prices, however our turn-key furniture package is sold as an extra. I think this article is gives a perfect picture about the market situation, shows the reality, worth to read it..

Friday, October 9, 2009
Scaffold and Level Marking
Mandalay Garden Samui Show Unit Ready for Viewing
Asia Property Report, Thailand - October 1 - NewsThe project includes nine different types of one bedroom units ranging from 50sqm to 90sqm. Before construction is launched, there is also the option for investors to combine two or more units to create two or three-bedroom apartments.
Each unit also features a balcony, and ground floor residents will have direct access to the 600sqm swimming pool as well as a gym and spa facilities. Prices start from Bt3.49m.
Meeting international architectural specifications, each of the 39 units is fitted with contemporary, high-end kitchen appliances and lighting fixtures. Other on site facilities include a restaurant, pool bar & grill, designer shop, business centre, car rental and room service.
Investment returns are not guaranteed, but with a 35 percent occupancy level they are anticipated to reach 6 to 8 percent with a Bt3,600 night average rate. Each Owner has the option to participate in the project´s Rental Program managed by Astudo under its luxury residence brand “Le Bayburi”.
Mandalay Samui Developments currently has to project located on Koh Samui – the other being a villa development. Both have been nominated for the Thailand Property Awards 2009 in four different categories.
Monday, September 21, 2009
Rental Program FAQ

Q. Do I have to take part in the Rental Program, or I can have my apartment entirely for my own use?
A. The Rental Program is optional. Each Owner has the option to participate in our Rental Program that will be managed by Astudo, through under its luxury residence brand "Le Bayburi". This Rental Program has been created for all those Owners who wish to buy their property as a form of investment in addition to utilizing the property for personal pleasure.
Q. What will Astudo do to attract rental guests?
A. Website Marketing
Online advertising
Local and international public relations
Travel trade shows in Thailand and overseas
Contracts with local and international travel agents
Online travel agent site listings
CRM marketing and loyalty programs
Cross selling between properties
Travel related media advertising
Local billboards and posters
Q. Are there any occupancy rate expectancy?
A. It is extremely difficult to forecast for a new property in a new location. We are
forecasting however a first year occupancy of 30-35% with increases of 10-15% per
year up to 75-80% by year 3-4.
Q. Why will Le Bayburi have a higher occupancy rate than other projects?
A. Because of an extensive sales and marketing network
Benefits of advertising under the Le Bayburi brand
Higher level of service and quality standards
Internationally recognized and respected management company
The Astudo head office has over 18 people in the sales and
marketing department, plus international sales representative office
in Australia and soon to be UK.
Q. What do I do when I want to use my unit myself?
A. Simply contact the reservations desk to make a booking. All owners details are on
file, so the booking process will be very simple and straight forward.
Q. Why can I not use it during Peak Season?
A. The management company invests a lot into the operations and marketing on the basis that they will have the right to rent out properties for 10 months of the year. During the first few years when occupancy is low Astudo will certainly be flexible where possible to accommodate owners’ requests outside of the allocated 60 days. Generally the management company needs to also provide a guaranteed availability to whole travel agents, this is very important during peak and high season. Honoring this ensures travel agent support during the remainder of the year. Optionally owners can book and pay for the unit (if occupancy is full), from their rental account. Ultimately this will be cheaper than normal rates, as the owner receives 60% of the amount paid as part of the rental sharing under the management program.
Q. What will the service for rental customers be?
A. Concierge Services
Front desk and tour services
Transport and shuttle arrangement
Room cleaning
Rental program marketing and sales
Rental collection and management
Property management
Wednesday, September 16, 2009
Breaking News : Show Unit Completed

Sunday, August 23, 2009
Legal FAQ

What does "leasehold ownership" mean?
Leasehold ownership is a popular and developed method of allowing foreigners to make security property investments, and in keeping with the good management of a luxury residential development. Additionally our leasehold structure is designed to protect the interests of the Lessee.
What sort of right I get as a leaseholder?
Each individual apartment unit will be owned by a Thai Lessor company, Mandalay Garden and Development Co. Ltd. You take a long term registered lease over your individual apartment, and are granted the right to use the common areas of the developments.
What is the maximum term of lease?
The maximum lease term allowed under Thai Law is 30 years. Our Lease terms Agreement contains two options to renew the lease at 30 years each, thereby giving the lessee 30+30+30 years. At any time during the 30 years lease term, the lesee has the right to cancel the lease and register a new lease at the Land Office for a new period of 30 years under the same terms and conditions as the previous lease.
Is leasehold unit is transferable?
If the Lessee wishes to transfer the lease to a third party, the landlord company agrees to issue a new lease of 30+30+30 years to the incoming Lessee, for example in the event of re-sale of the property.
Can leasehold be upgraded to freehold ownership?
If the investment climate in Thailand become more favourable to the Lessees in the future, the Lease Agreement contains an option to extend the lease term if the maximum period allowed under Thai law is extended.
Wednesday, August 5, 2009
Developer Profile

Monday, July 27, 2009
Samui News : Rafael Nadal and Britney Spears visiting Samui


AMERICAN pop singer Britney Spears and tennis star Rafael Nadal are coming to Samui for a holiday.
Twenty-seven-year-old Spears has reportedly chosen Samui for a much-needed rest for her and her crew after her successful “comeback tour” of Europe.
No. 1 ranking tennis player Nadal, 23, may also come to Samui in September before playing in the PTT Thailand Open 2009.
According to the Siam Rath newspaper, Spears will come to Samui for a grand vacation before resuming the last leg of her concert tour scheduled in Australia and other parts of Asia.
Siam Rath said that a list of five-star resorts on Samui was presented to Spears for her to choose from. She chose Sila Evason, which she has reportedly agreed to rent for a week for 180,000 British pounds.
However, her agent did not disclose the date of her visit to safeguard her privacy.
Foreign media, including websites (such as splashnewsonline.com) and bloggers, have also reported her trip to Samui, without any mention of dates.
A US blogger, who is a professional travel writer, said on June 16 that Spears also invited her ex-husband Kevin Federline, who has been accompanying their two sons during her recent jaunt in London, along with his girlfriend Victoria Prince, to Samui.
The Spanish professional tennis player is expected to take part in the PTT Thailand Open 2009 scheduled for Sept. 26-Oct.4 at the Impact Arena in Muang Thong Thani, Bangkok.
According to Suwat Lipatapanlop, head of the Tennis Association of Thailand, they would arrange for Nadal to visit a destination outside Bangkok before he plays in the tournament.
"We choose Koh Samui because personally Nadal likes to play golf, and go fishing, and Samui is perfect for these activities."
Phanu Woramit, head of the Tourism Authory of Thailand in Suratthani, said his visit could generate worldwide publicity for the island, and would add to the island's reputation as a popuéar destination for the world's who who.



