Formula for Serenity

Final stages of construction are under way at one of the most eagerly anticipated five star luxury developments in Phuket. The 52 unit $26 million Outrigger Serenity Terraces Resort in Rawai ushers in yet another major player in hospitality management to the shores of the south coast. With the imminent arrival of the Four Seasons Hotel, the established Evason in a 5km to the Friendship Beach area of Rawai, this once sleepy expat retreat is fast evolving into a sought-after haven from developers and investors. Punctuating this point is news that Formula One reigning world champion Kimi Raikkonen has purchased a 279sqm beach front loft villa at Serenity Terraces Resort due to open on April 2009.

Speaking at the ribbon cutting ceremony of phase one of the project, on 4 October, Raikkonen announced to real estate agents, fellow purchasers and developers: “I’m pretty sure that I made the right decision, and I’m also very impressed with the whole progress of Serenity Terraces. It’s been a while since I’ve been in Phuket, and I’d forgotten how beautiful it is. I’m definitely going to enjoy more holidays with my family and friends whenever I have the chance.”

Ramesh Hamal, chief operating officer of Green Heritage Group, the firm that handles management of the development including marketing and sales told Phuket Post: “It was actually Raikkonen’s friends who were initially looking for a suitable location and residence in Phuket on his behalf. We showed them the projects we had in early 2007. Because of the platform that we had in terms of the concept, the location, a reliable development team and the financial security we could offer, these components convinced Kimi that we were the right choice.”

Outrigger General Manager Pieter van der Hoeven elaborated on the impact of one of the most revered sports stars in the world investing in the venture. “It really shows the quality of our product and the exclusive appeal that Phuket now has,” he said. “For someone who could choose his holiday home wherever he wants, he’s chosen a place on the waterfront in Rawai. It really shows the faith that Kimi has in all parties involved.”
The secluded condominium resort is comprised of a mix of freehold condominiums and beach front pool villas. Entering from the elevated Viset Road, passing private security checkpoint, you’re met by the resort’s one, two and penthouse apartment blocks, which cascade down a gentle slope to meet the majestic beach front infinity swimming pool, and a club house bar and restaurant that hovers just above the shoreline. From here, truly tantalizing sea views look out to Koh Lon, Coral Island and the breadth of Chalong Bay.

Serenity’s 190sqm two-bedroom beach duplexes and 279sqm beach lofts line the shoreline. Each boasts a private infinity pool, sera stone roof terraces, stylish timber trimmings, and furnishings laced with stainless steel and granite that exudes contemporary cool. Serenity has executed to perfection the new trend of combining indoor/outdoor living concepts to beach front residences by maximizing light into the properties with floor-to-ceiling windows.

With over 65 percent of the 52 resort properties being sold already and 70 percent of the buyers hailing from the US, UK and Scandinavia, it’s ever more apparent that foreign investors have confidence in the Thai property market. Expounding this sentiment, Hamal commented, “Real estate is always about confidence. People like to see a site and market that is in progress. They don’t want to invest in a site where you can’t see the progress. Here we manage to achieve a sound relationship between the progresses of the construction irrespective of the sales.”

Serenity Project Manager Izzy Ben Natan believes the financial woes of the west have little or no impact on sales or enquiries locally. “Investors have made their decision based on medium and long term investments, both which remain very bright here in Phuket,” he said.

Indeed, Raikkonen and the other buyers in the Serenity development rental program stand to make a guaranteed six percent annual return on their investment and could even benefit from capital gains, which have average more than 20 percent for the last five years in Phuket.

Serenity seems intent on focusing potential buyers on the unique management services that Outrigger Enterprises brings to the development. Senior Vice President Darren Edmonstone of Outrigger Asia takes the opportunity of the opening event to highlight the lure of Serenity Toys, which include an 80m private dock, home to the Lady Anita Serenity yacht, speed boats and kayaks, combined with the added bonus of a luxury spa and private butler service complete with in-room dining. “They won’t be handing you your towel when you get out the shower, but they will be available 24/7,” he joked.

The Outrigger Serenity Terrace Resort will undoubtedly be under scrutiny from the local and world media with Raikkonen’s arrival. Hamal thinks that that’s a bonus for the tourist market: “We’re responsible developers. We care about the island and want to promote not only our projects but Phuket as a whole.”

SERENITY TERRACES
Contemporary beachfront luxury with unparalleled attention to detail in interior design, serenity, exclusivity and property good enough for one of the world’s most famous sports personalities.

LOCATION
Off of Viset Road in Rawai, and on the beachfront

PRICING
$300,000-$1.1 million

CONTACT
Serenity Terraces
14 Moo 5, Rawai
076-383-789.
info@serenity-terraces.com.
www.serenity-terraces.com.

Written by Fraser Morton for Phuket Post