Trio of PRCs launched in Thailand

18th March 2010

Luxury condominium developer Raimon Land has announced the launch of its first lifestyle products: The Heights Private Residence Club in Phuket, Northpoint Private Residence Club in Pattaya and The River Private Residence Club in Bangkok.

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.

Hubert Viriot, chief executive officer of Raimon Land said: “The design, implementation and launch of Private Residence Clubs presented a unique opportunity to diversify our portfolio without diluting our focus on luxurious residential experiences. We also had the benefit of working closely with our major shareholder IFA Hotels & Resorts who have successfully developed and sold a variety of investment and lifestyle products around the world, including several Private Residence Clubs.”

Piaras Moriarty, Vice President Client Management with IFA Hotels & Resorts in the Middle East, said: “Owners in the Clubs will have access not only to their selected property in Thailand, but can also exchange their days for access to over 160 properties through the IFA Collection and The Registry Collection. Likewise, the addition of these Private Residence Clubs provides our IFA Collection clients access to three great new vacation options in Thailand.”

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