EXCITING DEVELOPMENTS IN PHUKET

Phuket Water World is one of the biggest developments of the Group, located in one of the few remaining untouched beaches of Phuket island. The total site area has been purchased in three stages with land 1 which makes up the condominium development being purchased in November 2016. This was followed by land 2 being purchased in September 2017, before the remaining land with the new hotel project being purchased in March 2018 this year.
Over the last few months, the main focus has been to prepare the project, the infrastructure and the construction work to ensure everything is delivered to the highest standards. 25,000 trucks of sand have been brought into the land to get the site ready for construction, a two-story sales office has been opened and the tendering is completed with the construction company settled. In the first quarter of the year, the Group also settled a management agreement for the hotel part with an international hotel brand
The construction for the first building is set to start in May-April 2018 with the other buildings of the condominium project starting over a period of 12 months. To ensure the highest quality of the water world resort and to be in compliance with the standards set by the international hotel brand that has been secured for our Bangtao Resort, the construction for all buildings in the resort will instead start in August 2018. This will ensure that the full resort will be completed simultaneously to avoid construction noise and disturbances for our owners.

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