Banyan Tree Residences records four-fold growth in first year of operations
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Banyan Tree Residences records four-fold growth in first year of operations
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Category: Worldwide - Industry economy -
Figures / Studies
This is a press release selected by our editorial committee and published online for free on 2008-06-02
Singapore-listed Banyan Tree Holdings Ltd (“Banyan Tree”), a leading developer, designer and operator of luxury resorts, hotels and spas, has announced the strong first-quarter 2008 showing of Banyan Tree Residences, the property sales and residences arm of the group. In the first quarter of 2008 alone, a total of 29 units totalling S$51.2million was sold, surpassing by over 450% sales of S$9.2million in the first quarter of 2007. Banyan Tree Residences posted a total S$90.1 million in cumulative unrecognised revenue (excluding unrecognised revenue from unbranded residences) at the end of the first quarter of 2008. Revenue is recognised from units sold based on percentage of completion of these units.
Over 400 visitors attended the Banyan Tree Residences private exhibition in Hong Kong between 24-25 May 2008, with encouraging results attributed to strong property demand in Hong Kong and the region. Banyan Tree Residences are now available at Banyan Tree properties in Phuket and Bangkok, Thailand; Bintan, Indonesia; Lijiang, China and Seychelles. These properties offer Banyan Tree brand’s compelling reputation, choice locations, high rental yield and quality management strategies.
Continued Expansion
Banyan Tree Residences is into another year of continued expansion as it introduces the category of Grand Residences, which will be located at Banyan Tree Phuket. Grand Residences cater to investors who wish to purchase a Banyan Tree villa without placing it into the hotel rental programme, effectively keeping the villa as a private holiday home with the added amenities of upkeep and management.
In addition, Banyan Tree Residences released seven new Deluxe DoublePool Villas in Phuket. These will be offered with a fixed 6% annual rental return for six years, plus owners will enjoy 60 days complimentary use every year of their villa. With land area measuring up to 1,579 sqm and floor area of 537 sqm each, these two-bedroom DoublePool Villas will be sold with a complimentary membership to Banyan Tree Private Collection, Asia’s first asset-backed destination club.
Exquisite Banyan Tree touches include beautifully appointed villa amenities such as a private infinity pool, outdoor jet-pool, floating master bed pavilion, all set within lush tropical gardens looking out over beautiful lagoons and only a five-minute walk to the beautiful Bang Tao Bay beach.
For investors with a yen for tropical lifestyles, Banyan Tree Residences Phuket is offering 50% deferred payment option for property investments at this award-winning resort. Banyan Tree Residences Bangkok extends deferred payment option up to 70% for the 24 two-bedroom apartments which will be available by end-2008. These well-appointed apartments are ideal for property investors seeking an exclusive residential lifestyle in the bustling city.
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