Rong Phor Property (TITLE), a subsidiary of AssetWise Group, has launched 4 new projects in Phuket with a total value of 15.5 billion baht, showcasing a strong backlog of 8.02 billion baht. Revenue recognition is set to begin in 2024, with new projects in Bang Tao, Kata, and Rawai, including the upcoming projects “THE MODEVA” and “THE TITLE ARTRIO BANG-TAO” at Bang Tao Beach. The company is confident that sales in Phuket will increase by 5 billion baht during this high season, alongside the launch of “The Esquire,” a service aimed at enhancing the quality of life for residents, with a vision to develop the brand THE TITLE into a Heaven Bestination, creating quality housing for a sustainable living environment in Phuket.

Mr. Kram Chatchai, Chief Executive Officer of AssetWise Public Company Limited (ASW), a leading property development company focused on lifestyle under the concept of “Happiness Designed for You” or “We Build Happiness,” stated that the company has been expanding its property development locations in Phuket by acquiring a 67.94% stake in Rong Phor Property Public Company Limited or TITLE, which specializes in developing Leisure Residences in Phuket under the brand “THE TITLE”. With over 12 years of experience, TITLE has residential projects spread across three strategic locations: Bang Tao, Nai Yang, and Rawai, known for their excellent transportation, natural beauty, and amenities that cater to both long-stay residents and short-term tourists.

With ASW and TITLE's commitment to selecting prime locations, diverse transportation connections, understanding resident needs in design, and quality construction, the THE TITLE brand has gained continuous trust and confidence from customers. As a result, ASW's overall sales for the first nine months of 2024 reached 14.578 billion baht, with TITLE contributing 43% of the total sales. Currently, TITLE has a backlog of approximately 8.02 billion baht, with revenue recognition starting from the second quarter of 2024 from THE TITLE HALO 1, and it is expected to continue recognizing revenue from other projects until 2027.

Due to this success and positive customer feedback, ASW has adjusted its plans to launch Leisure Residences in Phuket, introducing a total of 4 new projects worth 15.5 billion baht, exceeding initial plans. These include: 1. THE TITLE CIELO RAWAI valued at 1.2 billion baht, which has received excellent feedback with sales reaching 90% within just one week of launch; 2. THE MODEVA valued at 6.2 billion baht; 3. THE TITLE ARTRIO BANG-TAO valued at 2.6 billion baht, set to launch in October; and 4. KATABELLO in Kata valued at 5.5 billion baht, with plans for an official launch in early 2025. The company believes that this strategic adjustment will boost project sales in Phuket by an additional 5 billion baht during the high season.

Currently, ASW and TITLE have a total of 8 condominium projects developed together, with a combined value of 31.5 billion baht.

“Today, we have proven that our strategy to expand into Phuket is a key success factor that contributes to stable growth for AssetWise Group in line with our announced plan, The New Frontiers. Beyond growth, ASW and TITLE aim to develop the brand THE TITLE into a Heaven Bestination, a destination where people from around the world want to experience and live. We are committed to developing quality housing projects alongside creating a strong community to make Phuket a sustainable living city for everyone,” said Mr. Kram Chatchai.

Mr. Wakin Tangkulwat, Co-Chief Executive Officer of Rong Phor Property Public Company Limited (TITLE), a property developer in Phuket under AssetWise Group, stated that the company continues to prioritize strategic locations like Bang Tao, known for its beautiful white sandy beaches and turquoise waters, surrounded by amenities such as restaurants, lifestyle venues, schools, hospitals, and various activity centers that cater to the needs of every family member. This is also the first time the THE TITLE brand is developing residential buildings with a “Pet-Friendly” zone within the project, catering to pet lovers and allowing people and their pets to live happily together, making THE TITLE a Heaven Bestination for everyone.

For “THE MODEVA”, it is a 7-story Leisure Residence project consisting of 6 buildings and 1 Pet-Friendly building, totaling 859 units on approximately 15 rai, located just 500 meters from Bang Tao Beach. Designed under the concept of The Vibes of Pleasure, it offers the beauty of nature and sandy beaches in the best location of Bang Tao, providing a superior lifestyle with world-class amenities, allowing residents to live as if every day is a vacation. The units are fully fitted, available in both Simplex and Duplex styles, with 11 options ranging from 29 to 148 square meters, and the largest Penthouse at 148 square meters, featuring a total of 7,458 square meters of common areas, including over 26 indoor amenities such as a Business Lounge, Co-Kitchen, Health Center, Salon, Kid’s Club, Theater Room, Onsen, and 33 outdoor amenities such as a large multifunctional swimming pool surrounding all buildings, Hydrotherapy, Private Outdoor Living Lounge, along with special zones for Pet Grooming and a Pet Zone in the Pet-Friendly building, with prices starting from 4.1 to 18.7 million baht.

Meanwhile, “THE TITLE ARTRIO BANG-TAO” is a 7-story Leisure Residence project consisting of 3 buildings and 1 Pet-Friendly building, totaling 435 units, situated on approximately 6 rai adjacent to Porto de Phuket. With the concept of Live Artfully, Where Creative Retreat Meets Style, it reflects the beauty of art in every detail of the project. The building features fully fitted units in 1 Bedroom, 2 Bedroom, and Duplex styles, ranging from 28 to 132 square meters, along with over 41 common amenities, including outdoor features like a Feature Art Wall, Sculptural Playground, Waterfall, Floating Pool Terrace, and indoor amenities such as Health Care, Live Studio, Library Lounge, Kid Space, Onsen, Boxing Area, as well as zones for pets including Pet Grooming and Pet Pool & Playground in the Pet-Friendly building, with prices starting from 4.23 to 19.67 million baht.

Additionally, the company has launched a new business, “The Esquire”, providing Property Management services that include a management team to oversee the project, tenant sourcing and coordination, laundry services, and cleaning services within the units, ensuring the well-being and quality of life for all residents in THE TITLE projects for a comfortable living experience in every aspect.

According to Mr. Patthanun Pisuthwimon, Secretary and Vice President of the Phuket Real Estate Association, the overall real estate market in Phuket in 2024 is benefiting from the recovery of tourism and the influx of foreigners, resulting in stronger purchasing power among local residents. The demand for housing among foreigners is also on the rise. The Property Data Center predicts that this year, the total value of property ownership transfers, both horizontal and condominium, in Phuket will amount to approximately 33.73 billion baht, representing a growth of about 7.1% compared to 2023. The new condominium sales in the first half of 2024 reached 4,497 units, a growth of 259.8% compared to the same period last year, with a total value of approximately 40.19 billion baht, marking an increase of 799%. The most prominent sales location is “Bang Tao Beach - Surin Beach”, with 2,202 units, accounting for 48.97% of the total new sales units.

For AssetWise Public Company Limited (ASW), it focuses on developing high-rise and low-rise residential projects in prime locations under the concept of “Happiness Designed for You” or “We Build Happiness”. Currently, it has developed over 68 projects of condominiums and housing estates under various brands designed to create happiness for every lifestyle, including KAVE, ATMOZ, MODIZ, ESTA, THE ARBOR, THE HONOR, CHANN, and the brand under Rong Phor Property Public Company Limited or “TITLE”, which is a subsidiary of the company, with a total project value exceeding 98.105 billion baht. This includes 52 completed and ready-to-move-in projects and 16 projects currently on sale and under development. As of the second quarter of 2024, the total backlog is valued at over 23.678 billion baht.