JANUARY 2012 |
www.opp.org.uk
WINNERS
OPP AWARDS FOR EXCELLENCE 2011 | 67
BEST DEVELOPER WORLDWIDE Silver: Absolute World Group
What did Absolute World tell the judges? The Absolute World Group offers “shared-ownership second homes via private residence clubs, boutique hotels, pool villas, private island resorts and high-end urban multi- story condominiums.” It aims to offer “variety, quality, service and value-for- money” and it invests “massively” in its image and “in the development of new and refi ned products, designed in response to client needs.” The company won 11 different
awards in 2010 including the Fractional Life Readers Choice Award in London for its designer resort development yooPhuket. It also garnered three awards from
the American Resort Development Association (ARDA), Best Fractional Resort for The Beach Samui from the Bloomberg International Property Awards, and a gong at the Thailand Property Awards 2010 as the Best Boutique Developer ... as well as three GNEX awards. In addition to running one of Asia’s leading lifestyle vacation clubs, Absolute World’s reputation also allowed it to be appointed last year as the premier sales and marketing partner for the second phase of the all-villa island resort The Village
Coconut Island, which comprises 106 Jacuzzi suites, plus 76 Two Bed Pool Villas for whole or shared ownership. The Absolute World Group told
the OPP judges that it decided to offer residences at The Village Coconut Island from £40,000 up to £800,000 with 3 simple paths to purchase: 1. Pay the full price and choose to permanently reside in it or use it for an unlimited number of days per year. Paying the annual management/ maintenance fees.
2. Pay the full price, put the villa in the rental pool (with 60 days owner’s usage per year), and receive 60% of the net rental return. 3. Accept ‘Pre-paid Rent’ to the
value of 20% as a discount and pay 80% of the full agreed price, put the villa in the rental pool (with 60 days owner’s usage per year), pay no annual fees ... but do not receive a rental return for the fi rst 4 years. And, after 4 years, owners are allowed to enter the long-term rental scheme, if they wish to do so.
The company also says that its mission is “to build exciting resorts in developing markets, in partnership with other world-leading brands and to continue to provide the most exciting vacation opportunities for their clients for many years to come.”
Absolute also has a Corporate Social Responsibility programme helping local communities and enhancing the lives of employees. For instance, “when the
Who is Absolute World?
The Absolute World Group was established in 1998 with a property portfolio of US $100m. With 1,300 staff in 26 locations across the world, the company generates US $50m of revenue per year from 25,000 members and has, over the last 2 years, enjoyed 60% growth. It has now moved into boutique resort development and pioneering fractional ownership in Asia. Group resorts include Absolute Bangla Suites (opened Q4 2009), Absolute Nakalay Beach Resort (opened Q4 2009), Absolute Twin Sands Resort & Spa (opening Q2 2012), and The Beach Samui (opening Q3 2012). The company is the first mixed-use and fractional developer in Thailand and it invested more than THB 570m in fractional developments during 2010.
Tsunami struck in 2004, many Thai children were instantly orphaned,” says the company. “With a widespread presence in Thailand, Absolute were emotionally affected by the disaster and have since worked with charities such as
www.PhuketHasbeenGoodtoUs.org to help these children.” “From organising birthday celebrations to charity bazaars, from running marathons to sponsoring of students through university, and from climbing Everest to the development of a school, all Absolute staff are encouraged to play a part in giving something back.” There is also a visible commitment to
staff health and wellbeing. Absolute employees “in Asia are put through their paces on a regular basis by a personal trainer as part of the Absolute Boot Camp programme,” it says. “Staff also enjoy access to a company wellness programme and an
in-house, alternative-therapy doctors’ programme.”
And as well as a global marketing programme, Absolute also likes “to forge alliances with leading designers and architects, collaborating to create unique and desirable developments and add value to their products.” The company works with The Registry Collection, Citadel Trustees, Hutchinson & Co Trust Company (a specialised vacation ownership trustee), the British Chamber of Commerce Hong Kong and the American Resort Development Association amongst others. Absolute also partners yoo, the high-end design consultancy, and has worked with them on both yooPhuket and The Beach Samui. Today, the company say, more than
25,000 families around the world have invested in shared ownership “vacationing at Absolute resorts, assisting in developing a stronger economy for Thailand.”
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