AKA Resort is a Lakeside retreat situated in Hua Hin, an historic seaside resort within an easy 2 hour drive south of Bangkok, Thailand
Hua Hin is one of Thailand’s oldest and most traditional resorts for both Thais and overseas visitors.
Hua Hin, made hugely popular by King Rama VII is rich in cultural heritage and is within easy reach of Bangkok
Attractions include the Royal Thai King’s Palaces, ancient temples, white sandy beaches, national country parks, tranquil lakes and mountains, Pala-U waterfall, six world class golf courses, nearby island visits, charming town centre, night markets, cafés, bars, restaurants and luxury international hotel resorts
CBD- Bangkok – Hua Hin 2 hours by private chauffer transfer
Airport – Hua Hin 2.5 hours by private chauffer transfer
Construction of AKA - Phase One: One-Bedroom Pool Villas and resort common facilities has already started
AKA Resort is set within approximately 10 acres of lakeside land, consisting of 60
one-bedroom and two-bedroom villas
If for any reason development has not commenced within 3 months from completion of the Land Lease Agreement, all monies received will be fully refunded
The Developer will provide a 12 month warranty on construction of the Villa
AKA Resort is a Lakeside retreat situated in Hua Hin, an historic seaside resort within an easy 2 hour drive south of Bangkok, Thailand
Hua Hin is one of Thailand’s oldest and most traditional resorts for both Thais and overseas visitors
Hua Hin, made hugely popular by King Rama VII is rich in cultural heritage and is within easy reach of Bangkok
Attractions include the Royal Thai King’s Palaces, ancient temples, white sandy beaches, national country parks, tranquil lakes and mountains, Pala-U waterfall, six world class golf courses, nearby island visits, charming town centre, night markets, cafés, bars, restaurants and luxury international hotel resorts
CBD- Bangkok – Hua Hin 2 hours by private chauffer transfer
Airport – Hua Hin 2.5 hours by private chauffer transfer
Demographics
Capital – Thailand Total Population 64 million
Population – Religion, 95 percent Buddhist
Local Time – 7 Hours ahead GMT.
Currency – Thai Baht
Language - Thai
Religion – Buddhist
Politics – Stable Democratic
Climate – Warm, sunny with cool sea breeze
Economy – Stable economy with strong capital growth
Industries – Manufacturing, Tourism and Financial Services
The Developer
Kinji – their first hotel resort development in Thailand. Other residential town house properties in Manila
The designer and architect is Trend Design, Architect of luxury 5 star internationally acclaimed Chiva Som Spa Resort Thailand, voted best Destination Spa Retreat 2004 by Conde Naste Traveller
The Development - Overview
Construction of AKA - Phase One: One-Bedroom Pool Villas and resort common facilities has already started
AKA Resort is set within approximately 10 acres of lakeside land, consisting of 60
one-bedroom and two-bedroom villas
If for any reason development has not commenced within 3 months from completion of the Land Lease Agreement, all monies received will be fully refunded
The Developer will provide a 12 month warranty on construction of the Villa
Why are the villas all one or two bedrooms and not larger?
From our research, there is a high demand for one-bedroom and two-bedroom villas in the Asian and Western holiday markets. From a marketing point of view One-Bedroom and Two-Bedroom Pool Villas, together with resort facilities, location and pricing make AKA Resort an ideal product for international holiday visitors and retail travel agents
All two-bedroom villas have been specifically designed with extra day beds in the lounge, which convert easily into extra beds for visiting guests
From our research, return on investment is greater on one-bedroom and two-bedroom villas than villas with larger configurations
Decoration and Furniture
In order to present a consistent product to effectively market to holiday guests and travel agents, villas participating under the Villa Rental Program cannot be decorated to individual tastes. From an operations point of view, having a standard set up makes housekeeping and maintenance easier and more efficient to manage. Villa furnishing cannot be removed from the villa to maintain a consistent image and service for holiday rental customers. Villa Owners who do not wish to participate in the Villa Rental Program can decorate their Villa in anyway as owner of the property
Management
AKA Hotel Resort and Spa will be managed by AKA Resort and other professional hotel resort management companies appointed by the Developer
The Resort Management will engage top-end wholesale and retail travel agents in the Asian and Western holiday markets to promote the Resort
A common area Maintenance and Services Fee of USD 350 per month will be payable by Villa Owners six months in advance for the first year. This fee will increase each year in line with applicable inflation and running costs
For what is included in the maintenance and service charge see AKA Resort Maintenance and Services list in Annex I and Annex II contained in the legal documents
Ownership
Current law forbids foreigners from holding freehold land title in Thailand but a reliable and tested system has been developed and used for many years that can secure interests in property
A tried and tested method of land ownership is by means of registered leasehold. The Developer will grant the Purchaser(s) a 90 year leasehold over the land by way of a 30-30-30 year renewal right without any further costs to the Purchaser(s)
The Leasehold Agreement is an agreement registered with the government land office and as the maximum permitted lease period under current Thai law is 30 years, the Developer will provide the Purchaser(s) with a right to repeat the 30 year renewal options in perpetuity. Accordingly, the Purchaser(s) will have a perpetual leasehold interest similar to that of a freehold and is fully protected by Thai law
In addition, the Leasehold Agreement will further provide the Purchaser(s) with the right to convert the leasehold to freehold at any time when foreign Purchaser(s) are legally permitted to register a freehold title in Thailand. The Purchaser(s) will receive an original copy of the Certificate of Leasehold Registration evidencing Purchaser(s) leasehold ownership of its land plot at government land office. There is no extra charge by the Developer should Purchaser(s) exercise their freehold conversion right in the future
The villa constructed by the Developer on your behalf will be legally owned by the Purchaser and on completion is registered as such
The effect of these measures is to provide a clean, legal and lasting interest in both the land and villa that you are purchasing. Should Thai laws regarding foreign ownership change in the future, it will be possible to convert your interest accordingly. In the meantime, Purchaser(s) can remain certain that their investment is secure
AKA Resort Villas can be purchased in the name of an individual or by Company, including foreign purchaser(s)
Selling your Villa
Villa Owners are free to sell their villa at any price and at any time they wish as owner of the Leasehold property. The sale of an AKA Resort Villa involves simply a sale of the Leasehold property by way of assignment to a new purchaser. AKA
Resort Management will assist any owner wishing to sell in promoting the villa for sale
Completion date
We anticipate practical completion in February 2006
This includes the construction of resort common facilities. Contractors will be financially penalised for delays
Economic Outlook in Thailand
Recent announcement by the Thai government to construct a new express highway within several years, further reducing travel time from Bangkok to Hua Hin to approximately 1 hour only. An additional factor contributing to strong growth and capital appreciation of properties in Hua Hin
The Housing Market In Thailand and Hua Hin
Other luxury international resorts and spas within approximately 10 minutes drive include:
The Chiva Som Spa Resort
The Hyatt Regency Resort
The Anantara Hotel Resort
The Evason Six Senses Spa Resort
The Marriott Hotel Resort
The Sofitel Central Hotel Resort
The Sheraton Hotel Resort (opening soon)
The Investment
Rental Guarantee: A minimum rental guarantee of 6% net per year will be offered to Villa Purchaser(s) for the first two years. At a purchase price of USD 280,000, the Developer will guarantee a minimum 6% net rental return in year one and again in year two
For Villa Owners electing to participate in the Villa Rental Program, Villa Owners will receive Villa Rental Revenue calculated on total villa revenue received, less Resort Maintenance Fee and the following charges (Optional):
Villa Rental Management Fee and Marketing Fee (15% of Villa Rental Revenue)
Other Expenses include:
Travel Agent and credit card commissions
Villa maintenance and utility charges (US$350 per month)
Resort staff salary expenses
Other pro-rata operating costs and
Government tax and rates
There are no additional utilities payable by Villa Owners. All fees and expenses will be deducted before rental profit is distributed
The Villa Rental Management Fee and Expenses are optional and is only applicable to Villa Owners who wish to participate in the Villa Rental Program
Villa Owners may elect to participate or not participate in the program and need only provide 6 months prior written notice to opt out of the Villa Rental Program
Villa Owners are entitled to a total of 30 days complimentary stay a year
Villa Owners will receive a 20% discount for food & beverage, massage treatments, mini bar and related services. The level of discount is at the discretion of The Resort Management
If Villa Owners wish to stay in their villa and it has already been booked as long as there is availability, Villa Owners will be offered another villa
All complimentary stays in other AKA Resort Villas will be treated the same as if Villa Owners were staying in their own villa
Villa Owners will receive a monthly income statement report
Villa Owner’s rental income will be paid on a bi-annual basis into Villa Owner’s designated bank account. The accounts will be subject to an annual audit
Rate of inflation currently approximately 5-10% property price increase per year
National rate of capital appreciation c. 8% per annum
Local rate of capital appreciation c. 10% per annum
All units are FURNISHED
Anticipated rental income net 9% -13% rental yield based on 35% to 55% occupancy rate per year
The Buying Process
Holding Deposit HK$ 20,000 upon signing the Booking Form
10% of the Purchase Price less HK$ 20,000 within 7 days from payment of the Holding Deposit and upon signing of the Deposit Agreement
40% of the Purchase Price within 30 days from the date of the Deposit Agreement and upon signing of Land Lease Agreement
40% of the Purchase Price upon completion of Land Lease Agreement and villa roof construction
10% of the Purchase Price upon completion of Villa building and handover
There are no financial penalties if you decide not to proceed with the sale at any stage. However, any deposit payments will not be refunded. The villa purchase documents will be terminated accordingly
Ownership of an AKA Resort Villa will be governed by the following main legal documents:
Letter of Purchase – between the individual Villa Owner and the Developer governing the overall purchase and payment process of your villa
Land Lease Agreement – between individual Villa Owner and the Developer governing 90 year (30-30-30) lease and freehold conversion of the villa land plot
Land Registration Certificate – certificate of leasehold registered at the Government Land Office in the name of the individual Villa Owner
Construction Agreement – between individual Villa Owner and the Developer governing the construction of your villa by the Developer to the agreed plans and detailed specifications provided by the architect