Amal Group invests US$315m in Thailand

Staff Report

Dubai, UAE

Amal Group of Companies, an established real estate group with a portfolio of over 100 projects spanning more than 500,000 square metres of space, has invested US$315 million (Dh1.1 billion) in Gardens of Eden in Phuket. It is a luxury wellness residential and hospitality community covering an area of 11.68 hectare on Bangtao Beach. It will comprise three phases of construction in total. The project is backed by Dubai-based investment firm, DPD Invest, which is actively involved in luxury real estate globally.

UAE-based investors are now expanding in other markets such as Asia, Europe, and Africa, as the local market matures.

The first phase of the community will see the construction of its residential beachfront property, Eden Residences. It is an integrated wellness lifestyle complex which takes up 106,000 square metres of the community plot. It is made up of four-storey buildings featuring 141 luxury homes in total, each covering at least 75 square metres with three-metre ceiling heights. The units range from one- and two-bedrooms apartments to three- to four-bedroom penthouses. Two-level apartments are designed with private pools and enclosures. The buildings are expected to be completed in December 2026.

Residents can access an array of facilities like the main garden, club house, a café with pool, gym, kids’ zone, and underground parking lots. The complex will feature health and hospitality amenities such as a spa and wellness centre, restaurants and bars, a grocer’s market, and lifestyle boutiques, with green spaces such as a park and a lagoon pool.

In line with sustainable practices, natural materials such as carbon-negative wood and locally sourced granite are utilised in the construction of Eden Residences. 30 percent of the units have been sold in the pre-sales period with prices between US$6,290 (Dh23,100) per square metre to US$10,000 (Dh36,726) per square metre.

Amal has appointed renowned holistic designer and landscape architect Martin Palleros, founder of Tierra Design. The corporate affairs will be managed by former CEO of Laguna Phuket Ravi Chandran, and the wellness feature of the project will be supervised by wellness expert Ingo Schweder, founder and CEO of GOCO Hospitality. The team is led by CEO Aleksandr Chuvalov, selected by DPD Invest for his expertise in international luxury residential development.

“By 2050, 70 percent of the world’s population will be living in an urban environment causing severe impact to people’s health and well-being,” says Palleros. “We need to re-think the design of future sustainable cities to ensure they are more livable. This is a challenge we are taking on at Gardens of Eden.”

“Gardens of Eden will be the first project in Phuket, and one of very few projects in the world, to set this new development standard. It will be a fully immersive wellness lifestyle experience,” he adds.

Gardens of Eden will promote eco-friendly living by planting over 1,000 native trees and dedicating 70 percent of the land to green spaces. Vertical gardens will further extend the biophilic experience, with organic gardens, ponds, lakes, playgrounds, running and cycling tracks, onsen bathing, and reflexology areas featured.

“This is a significant project for Phuket and for Bangtao,” adds corporate affairs advisor Ravi Chandran. “Demand for quality living in a spacious natural environment in a prime location is extremely high as families relocate to the island from across the globe. Gardens of Eden will make an impact on the market and make a positive contribution to the greener development of the island as a whole.”

The rapid growth of the island post-pandemic is astounding, with 10.1 million passenger arrivals by September 2023. Currently valued at US$786,390 (Dh2.8 million), the real estate sector is fueled by a market boasting hospitals, international schools, retail malls, marines, golf courses, and beaches, attracting global buyers to Phuket. According to Phuket Economy Report 2023-2024 released by C9 Hotelworks, the buyers are not only buying for investment, but increasingly for relocation purposes as families search for a better life.

Ends

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