INVESTOR REPORT: www.remax.co.th New Nordic Phuket Water World Hotel and Resort - iConnect
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INVESTOR REPORT:
New Nordic Phuket Water World Hotel and Resort
Bang Tao, Phuket
www.remax.co.th
Prepared
Prepared by by
REMAX Thailand
REMAX : Copyright
Thailand August© 2018
2018
Project Introduction
In a prime position at only 150 meters from a perfect white sand beach, and neighbour to one of
Asia’s biggest luxury resorts (Outrigger and Laguna Resorts) makes this place one of the most
attractive places in Phuket.
The first stages of the resort will consist of 5 buildings -- 3 buildings built to a 4-star standard and
2 buildings built to a 3-star standard. A major-brand 4.5 star hotel will share the site expanding
the number of restaurants and amenities available.
This Project is sold and managed in a unique concept of a Hotel/
Condominium configuration that guarantee the Return of Investment.
In 2009 New Nordic Group was formed with a fresh business model focusing on hotel and resort
construction, restaurant development and retail.
The original Nordic Group started developing condo projects in Thailand from 1999.
With a global workforce of over 1000 staff (not including contractors), and investment offices in
Thailand, Indonesia, Cambodia, Vietnam, The Philippines, Hong Kong, Singapore, Dubai, Los
Angeles and Norway, New Nordic Group has grown into a large and very successful business.
The New Nordic Phuket Water World is located in Bang Tao, which is one of the few remaining
beaches in Phuket still not affected by big developments.
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Project Overview
Property PHUKET WATER WORLD HOTEL RESORT
Address Cherng Talay 14, Thalang District, Phuket 83110
Prime position only 150 meters from a perfect white sand
Location
beach, and neighbour to one of Asia’s biggest luxury re-
sorts.
The space of the area is equal at 36,800 m2, including Bar,
Site Area Swimming pool (2,500 m2), 5 Buildings, Restaurants, pool
bars, playgrounds, minimart, retail shops
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Location
At only 1 hour away from Bangkok by air, Phuket is the largest island of Thailand. Famous for
its crystal clear waters, white sandy beach and its proximity with pristine islands such as Koh
Phi Phi, Phuket is one of the top holidays destinations in Asia.
Situated in the North of the island, in the West coast, Bang Tao is known for its vast goldensand
beaches. 7km away from Patong's madness, Bang Tao is calm and restful, becoming the
dreamy location for luxury holidays.
Bang Tao has everything any guest would need, shops, local markets, restaurants and bars.
From Bang Tao, you can easily explore all the charm of Phuket. The area of Laguna, is consid-
ered as the most high-end in Phuket.
The resort is situated 150 meters from the beach of Bang Tao, one of the most beautiful beach-
es of Thailand.
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Location
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Room Types
In each building there are three types of rooms:
• Studio
• 1 bedroom
• 2 bedrooms
All rooms have:
• Kitchen with fridge and kettle
• Living room with sitting area, flat screen TV, working table and
decorations
• Bathroom with shower, toilet and sink
Units with Bedrooms will have a king size, queen size or twin-size bed according
to the size of the bedroom. A night table and a wardrobe will be part of the
bedroom.
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Leasehold Investment GUARANTEED RETURNS:
Paid in FULL: Immediate 10% ROI until completion
Investment returns do NOT fluctuate by occupancy %
REMARKS
3 10% Cashback NET During Construction
9% Rental Return NET
Electric- & Water meter: THB 15,000
105% Guaranteed Buy-Back at original price Sinking fund: THB 500.00 per square meter,
paid once upon
completion
Management service fee: THB 37.50 per
square meter monthly
5 10% Cashback NET During Construction
9% Rental Return NET Leasehold registration fee THB 15,000
110% Guaranteed Buy-Back at original price
Security
10 10% Cashback NET During Construction
9% Rental Return NET
Name-registered leasehold
120% Guaranteed Buy-Back at original price No assignment-penalty
Convenience
Hands-free investment includes:
15 10% Cashback NET During Construction
9% Rental Return NET Rental- and operational
management
130% Guaranteed Buy-Back at original price
Service- and maintenance
3% Inflation adjustment after year 10
20 10% Cashback NET During Construction
9% Rental Return NET
140% Guaranteed Buy-Back at original price
3% Inflation adjustment after year 10
Prepared by REMAX Thailand : Copyright © 2018
Freehold Investment GUARANTEED RETURNS:
Paid in FULL: Immediate 10% ROI until completion
Investment returns do NOT fluctuate by occupancy %
REMARKS
3 10% Cashback NET During Construction
Electric- & Water meter: THB 15,000
9% Rental Return NET
Sinking fund: THB 500.00 per square meter,
paid once upon
completion
Management service fee: THB 37.50 per
square meter monthly
5 10% Cashback NET During Construction
*Registration and transfer fee: Equally
9% Rental Return NET shared between buyer & seller
50% Finance is available
10 10% Cashback NET During Construction Security
9% Rental Return NET Name-registered foreign-name freehold title
Flexibility
Contract can be dissolved with 6 months
notice
15 10% Cashback NET During Construction
9% Rental Return NET
No assignment-penalty
3% Inflation adjustment after year 10 Convenience
Hands-free investment includes:
Rental- and operational
20 10% Cashback NET During Construction management
9% Rental Return NET Service- and maintenance
3% Inflation adjustment after year 10
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Project Summary
Unit cost - From 3.5m Baht
Size of unit - From 26m2—100m2
Price SQM - 90,000-130,000 per m2 average (
Maintenance fee - 75 Baht per sq/m shared between the hotel and the owner - making
owners contribution 37.5 baht per m2 per month.
Sinking fund - 500 baht per sq/m
Water/electric meter - 15,000 baht
Withholding tax 5%-ThaiResident
15%-Foreigner
(Paid by developer included in Rental Guarantee)
Buy back time - After 3, 5, 10, 15 or 20 years
Buy Back price - 100-140%
Yield - 9-10% - Paid monthly
Payment duration: 3 years construction (if paid in full) plus 3 - 20 year rental contract.
Furniture - Fully furnished and full refurbishment after 10 years + contract end.
Land office transfer fee 3.15% Shared 50/50
Other fees None
Tax's As above
Net ROI NET 10% During Construction cash back period
NET Approx. 8.5% during rental guarantee period (after maintenance
costs)
Number of employees 1000 Corporate, 700 Construction + Contractors.
New Nordic Occupancy rate Average 72% (77.1% Phuket Average by JLL)
Total number of units 4000 units sold and completed to date. Many more under construction.
Number of units that they keep 30% on average.
Investment amount Immediate monthly-return
THB 3,500,000.00 THB 29,166.67
THB 5,000,000.00 THB 41,666.67
THB 7,500,000.00 THB 62,500.00
THB 10,000,000.00 THB 83,333.33
THB 12,500,000.00 THB 104,166.67
THB 15,000,000.00 THB 125,000.00
THB 20,000,000.00 THB 166,666.67
THB 25,000,000.00 THB 208,333.33
THB 30,000,000.00 THB 250,000.00
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Number of condo units 609
Hotel Units 350-400 Estimated
Land size 36,800 m2
Pool size 2,500 m2
Total Floors/Stories 7
Styles Studio, 1 or 2-bedroom
Expected Completion Q1 2020
Prices
3.5 - 15 million baht ($110k-500k USD)
Prepared by REMAX Thailand : Copyright © 2018Visitor Analysis
Season:
Activities near to the resort (100m-3000m):
High Season: December—May
18 Hole Golf Course
Low Season: June—November
Laguna Resort Facilities
Horse Riding
Elephant Sanctuary Park Number of Tourists (2017):
Boat Avenue designer shopping and high-end eateries Thailand: 35,381,210 tourists
Canal Village Shopping Centre
Phuket: 1,690,890 tourists
Mini golf
Bar/Restaurant
Top nationalities who visit Thailand:
Muay Thai training
Scuba Diving China, 982,212 (Tourist per year)
Beach Activities Malaysia, 277,606 (Tourist per year)
Sth Korea, 164,001 (Tourist per year)
Competitor Hotels in the Bang Tao
3 Star complexes: 30
4 Star complexes: 66
Prepared by REMAX Thailand : Copyright © 2018Expansion in Bang Tao
2900 Meters from Phuket Water World—The upcoming Blue Tree Phuket waterpark and family
entertainment complex is making news with an opening expected in early 2019.
Located in Cherngtalay, near to the Laguna Phuket integrated resort area, the project is reportedly seeing an
investment of approximately USD40 million.
A key feature of the project is a Crystal Lagoons 17,000 square meter manmade lagoon.
Other key components include extensive resort retail and themed family entertainment.
Family attractions are on the rise with the next entry is Aquaria. which will be Thailand’s largest aquarium at
the upcoming Phuket Central luxury mall.
Phuket’s tourism scene is definitely shifting beyond the beach, as the geographic source of business is seeing
a surge in Mainland Chinese and Russian travelers.
Prepared by REMAX Thailand : Copyright © 2018Expansion in Phuket: Second Airport
Announced May 2018 : Airports of Thailand (AoT) approved the plan for a new second Greater
Phuket airport with over 15 Airlines operating . This has created quite a stir in the tourism sector in Southeast Asia’s
leading resort Phuket.
Located just over the Sarasin Bridge in Phang Nga’s Khok Kloi area, work is reportedly set to start next year and com-
plete by 2025.
The move is a highly logical one, given last year Phuket International Airport hosted 8.4 million passenger arrivals and
Prepared by REMAX Thailand : Copyright © 2018Expansion in Phuket: Central Festival
Central Pattana PCL (CPN) investing 20 billion baht investment to build a second mega complex opposite
Central Festival Phuket shopping mall opening 2019.
The new additions to Phuket’s shopping and lifestyle scene include a Mystic Forest, a walk-through aquarium and
a floating market.
The Mystic Forest is a futuristic wonderland green zone combining advanced technology with Thai culture and a
range of adventurous activities for visitors.
Aquaria, a joint venture with Malaysia, is an underwater world and gardens that the developers say will be the
largest ‘aquascape’ in the world. The ‘world-class’ entertainment zone is to feature an exhibition of aquatic plants,
it was revealed at a press conference.
The third section, ‘Tales of Thailand’, is to be a modern floating market selling products from the different regions
of Thailand, and is expected to be a draw card for tourists to experience the Thai way of life.
Prepared by REMAX Thailand : Copyright © 2018Hotel Competitor Analysis
Competitors in the Bang Tao area
3 * complexes: 30
4 * complexes: 66
Average price in low season for 2 people (1 night):
3 * = 1500 THB to 3900 THB (40$ to 120$)
4 * = 1800 THB to 6000 THB (60$ to 180$) (breakfast included)
Prices vary depending on hotel facilities and location.
In our opinion rates for Phuket Water World will be in the upper half of estimates as it is unique regarding
the huge size swimming area and relatively close proximately to the beach which will make it stand-out from
the competition.
Prepared by REMAX Thailand : Copyright © 2018Thailand Tourism Industry –
International Visitor Arrivals
2010
15.9 million
2011
19.2 million
2012
22.4 million
2013
26.5 million
2014
24.8 million
2015
29.9 million
2016
32.6 million
Prepared by REMAX Thailand : Copyright © 2018Phuket Property Market
The market is going from less than 400 units sold to more than 1,200 units sold in a year period
over the space of 5 years.
This graphic shows us that the expansions of the evolution of real estate in Phuket is real and
fast. It is an emergent and positive market which allows our project to increase this credibility.
Phuket Airport has seen large increases in passenger arrivals for 2017 of 12%, 2018 is currently
exceeding this figure.
Prepared by REMAX Thailand : Copyright © 2018Nearby Project Comparison
(550m) Apart
• 9-10% Guaranteed Return for upto 20 years • 7% Guaranteed Return for 5 Years, no buy
with up to 140% Guaranteed buy-back. back
• 150m to the beach • 700m to the beach
• Swimming pool total area 2500m2 • Swimming pool total area 400m2 (Estimated)
• Onsite Shops, restaurants, bars, spa/ • N/A
massage, tours, guest shuttle service.
• N/A
• 4.5 Star branded hotel on-site
Price range 90,000-140,000 THB per m2 Price range 104,000-138,000 THB per m2
https://www.dotproperty.co.th/en/new-home/1003/diamond-condominium
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Prepared by REMAX Thailand : Copyright © 2018New Nordic CEO Kurt Svendheim
Team New Nordic
Kurt Svendheim New Nordic CEO and founder (born 1967 in
Tønsberg, Norway) is a Norwegian entrepreneur, business man
and visionary. Svendheim showed his interest in entrepreneurship
at early age, when he started to
prepare monthly budgets and financial records for the weekly
allowance he received from his parents.
At the age of 20, he put his university degree on hold when he got the chance to buy Gullingen Turistsenter - a
mountain resort in Suldal, Norway.
Svendheim ran the lodge together with his family for a total of eight years, before he continued on into the world of
real estate and commerce for some of Norway’s biggest real estate firms.
In 2008, Kurt Svendheim moved to Thailand and started New Nordic Group. Together with a team of Thai investors
and owners, he built up several management and service companies with expertise in all areas of the tourism and
holiday sector, from project development companies to travel agencies. Svendheim has today a total of five brands
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