Lifestyle real estate Investors are ramping up their activity in Southeast Asia to meet strong demand post-pandemic.
Standard International, the parent company of The Standard hotels, is partnering with both Sansiri and CG Capital in new developments in Thailand.
CG Capital, the private equity fund management arm under Central Group, has established a fund with 10 billion Thai baht (US$228 million) of investment capital with strategic plans to invest in hotels, condominiums, amusement parks, water parks, and mixed-use developments.
The fund will focus on the major tourist hubs in Thailand, including Bangkok, Phuket, Samui, and Pattaya. CG Capital expects to invest in 3-5 projects annually.
A key project is The Standard Residences, Phuket Bang Tao, with the branded residences sharing the space with The Peri Hotel Phuket Bang Tao and a new F&B concept from The Standard.
The low density branded residences development comprises a total of six buildings, each with seven floors, totalling 188 units.
The Standard Residences, Phuket Bang Tao offers a co-working space, a games zone, fitness centre, 25m swimming pool, and a dedicated children's pool.
The property, 25 minutes from Phuket International Airport, is expected to be completed and ready for occupancy in the fourth quarter of 2026.
Still in Thailand, Sansiri Public Company Limited is set to open its latest branded residence project, The Standard Residences, Hua Hin, on a site occupying one of the last beachfront plots in the area.
The property comprises a total of 245 units of various sizes, spread across 12 buildings. Amenities include a pickleball court, gym, wellness area, swimming pool, and a dedicated pet park. Residents also enjoy discounts at The Standard, Hua Hin spa and restaurants.
Meanwhile, CapitaLand Investment Limited’s (CLI) new lodging private fund, CapitaLand Ascott Residence Asia Fund II (CLARA II is targeting serviced residences and co-living properties in gateway cities in key developed Asia Pacific markets.
CLARA II will acquire two seed assets from Ascott. They are a 50% stake in the 308-unit lyf Bugis Singapore and a 100% stake in the 200-unit lyf Shibuya Tokyo.
The well-located city centre properties are set to be green-certified. lyf Bugis Singapore will be unveiled in mid-2024 while lyf Shibuya Tokyo will open in 4Q 2024.