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Posted: 10 Oct 2009 | 4:33 pm
Listed Thai development firm Raimon Land has announced the launch of it's entry into the shared ownership market with it's Private Residence Club's located in Bangkok, Phuket and Pattaya. The properties have been named The Heights Private Residence Club, Northpoint Private Residence Club and The River Private Residence Club.
The Private Residence Clubs will initially include three of Raimon Land's properties in Thailand's most sought-after destinations. Each home within the Clubs is divided into saleable fractions of 1/13th. This fraction entitles owners to enjoy a minimum of 21 days per year at the Club in which they purchase as well as unlimited use of space available time. Additionally, owners will have access to a greater network of properties through The Registry Collection and IFA Collection. Ownership is in perpetuity and can be sold at any time. While fractional ownership is an emerging segment, re-sales remain an untested market, though there is a historical trend in Thailand on the re-sale of golf memberships.
The IFA Collection consists of a luxury portfolio of international properties developed by IFA Hotels & Resorts, a major shareholder in Raimon Land and an international specialist in the development of mixed-use resorts.
Raimon's news comes at a time when the firm has been looking at a flat overseas buyer market and needs to find a strategy to create sales revenue and improve cash flow. There remains wide market sentiment that other developers in the country are closely looking at the fractional market and other launches will be in the pipeline
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