Almost 120 Laguna Shores units – more than 50 per cent of the 229 in the building – have been reserved since its market debut on December 15 last year.
Prices for the one-and two-bedroom apartments, ranging in size from 40 to 88 sqm, start at B3.7 million.
Laguna Shores will be built on a lagoon-view site next to the current site of the Latitude marquee, close to the Dusit Thani Resort. Owners will have access to a range of the Laguna’s lifestyle benefits.
Buyers who have reserved apartments represent a broad range of nationalities with British, Russian, Thai, Singaporean, Australian and Chinese being the main buyers. Seventeen per cent of the buyers are existing Laguna Property owners.
“We’re delighted that Laguna Shores has received such an enthusiastic response from buyers,” said Stuart Reading, deputy managing director of Laguna Resorts & Hotels.
“It’s very pleasing that our decision to proceed with Laguna Shores, which represents a new direction and character for our property portfolio, has been vindicated by this positive response.”
The apartments are sold leasehold and will be made available in a rental pool managed by a new brand under the Banyan Tree Group.
Construction of Laguna Shores is due to begin during the second half of this year, with completion expected in 2015. Show units of three different apartment layouts are on display in Laguna Phuket’s Canal Shopping Village.
Laguna Shores has been somewhat controversial, with existing owners of high-end villas at Laguna complaining that the new development breaks an unwritten agreement that Laguna would forever remain high-end.
They also argue that Laguna Shores will cause traffic chaos in the complex.