48 | AWARDS for Excellence 2010 OPP AWARDS WORDS | Amit Katwala
www.opp.org.uk | JUNE 2011
Absolutely fabulous
Every month OPP profi les the winners of last year’s OPP Awards for Excellence and gives you the real reasons why they scooped up the prizes and impressed our international panel of judges. This month we are looking at the winners of the Best Fractional Product, both Absolute success stories, and at the winner of our regional award for the the Best Developer in Morocco, Property Logic.
Best Fractional Product Gold Medal Winner: The Absolute Nakalay Beach Resort The Absolute Nakalay Beach Resort is situated in a private bay on the island of Phuket, Thailand, which was named as one of the top 10 islands in the world by Conde Nast Traveller in 2009. According to the Absolute World Group, their development was designed to take advantage of the location and to “offer both sea and jungle views, with high ceilings, natural colours and materials fused with a white interior to provide clean and spacious living.” Prices at the resort start at €22,000
for two week shares, with 1/12ths also available, and Absolute World Group claims this makes the development “one of the most attractively priced fractional products in the region.” Perks for fractional owners include
speedboat use, golf equipment, spa access and luxury airport transfers. There are also concierge, housekeeping and security services, and owners can store their belongings at the resort.
Another perk, says the company, is membership of the Registry Collection – “the world’s largest super-luxury exchange program, a global network of more than 150 high-end resorts. Owners can also exchange internally with Absolute’s collection of fractional properties across Thailand.” According to the awards entry, the
current scarcity of fractional products in Asia will enhance the value of the owners’ purchases as the market grows. “With regards to the scope of fractional offerings in the region one must consider the exclusivity of fractional ownership opportunities currently available to owners in Asia. While fractional ownership is not new to the US and European markets, the fractional offerings at resorts in the Asia region are growing but are currently limited to a small number of developments. Market reports indicate that this is a growing market and the number of fractional resorts across Asia will increase, which will in turn enhance the potential value of owners’ current purchase in what is a virgin
market.” To market the development, Absolute created a network of international agents to target markets across the globe, as well as marketing it to current members of the Vacation Club. One particularly innovative marketing technique is an in-house magazine – Absolute Thai Magazine, with 40,000 copies circulated fortnightly across Asia. The company also uses billboards
across Thailand, and marketing booths in high-traffi c areas. The marketing techniques,
perks and attractive pricing were successful, according to Absolute. “Initial sales commenced in early 2009 for the first release of one studio and one 2-bedroom apartment, and upon completing sales of these first two units, the second release of the additional studio and 2-bedroom apartment was underway by mid-2009. Two luxury rooftop penthouse apartments were sold in record time, with a total of 52 share periods between the two units sold within 90 days.”
Best Fractional Product Silver Medal Winner Absolute Bangla Suites Last year’s silver medal also went to a fractional development in Thailand, and another one operated by Absolute. According to the company’s awards entry, Absolute Bangla Suites in Patong “captures the electrifying spirit of this vibrant area with modern and exciting fi nishings, quirky lighting designs and music systems, vibrant areas with modern and exciting fi nishings, quirky
“Absolute Bangla Suites in Patong captures the electrifying spirit of this vibrant area”
lighting designs and music systems. Up on the roof sits Climax, one of Phuket’s most fashionable hangouts, offering poolside dining, a buzzing music lounge and a unique bird’s-eye view of a town that never sleeps,” says the developer. “It’s all cool, chic and very, very sophisticated.”
The Absolute World Group was founded in 1998, and has become a leading Asian lifestyle property developer, resort and hotel operator, vacation club and fractional ownership company. It employs over 1,300 staff across 27 countries, and says its goal is “to build exciting resorts in development markets, and in partnership with other world-leading brands, to continue to provide the most exciting vacation opportunities for our clients for many years to come.”
An absolute | focus on clear and direct marketing plus attention to detail won
The new deluxe resort has a total of 54 units, with a selection of seven Penthouse apartments being offered on a shared ownership basis.” The Penthouse apartments are available for ownership in two-week share periods, with ownership originally starting at 22,375€ (£18,433) making this one of the most attractively priced fractional products in the region.
Initial sales commenced in early 2009 with three Penthouse apartments available for sale totalling 78 share periods, with 86% of the share periods sold by early 2010.
The second release of the remaining four Penthouse apartments followed in April 2010 with close to 45% of the share periods sold to date.
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