Proud Real Estate launches InterContinental-branded residences in Phuket targeting global wellness market

Bangkok-based luxury property developer Proud Real Estate has unveiled The Residences at InterContinental Phuket Resort, marking Thailand's first branded residential development under the InterContinental marque as the company seeks to capitalise on Phuket's evolution from tourist destination to global residential hub.

The 111-unit beachfront condominium project on Kamala Beach represents a strategic bet on what Executive Director Proudputh Liptapanlop describes as "Phuket 2.0" – the island's transition into a sustainable wellness destination attracting permanent residents rather than holidaymakers.

"Phuket is undergoing a fundamental transformation," Proudputh said at Sunday's launch event. "During COVID-19, significant numbers of foreigners chose Phuket as their primary residence, triggering new business investment and capital inflows that are reshaping the market."

The project targets an 80:20 split between foreign and Thai buyers, inverting Proud Real Estate's typical customer profile at its Hua Hin developments. Units range from 58-square-metre one-bedroom apartments to 425-square-metre penthouses, with an average price of 260,000 baht per square metre and entry point of 15 million baht.

The developer projects sales exceeding 50 per cent within three to four months, drawing on its track record of achieving 70 per cent sales within six months at a Hua Hin project despite pandemic headwinds. Construction is scheduled to begin next month, with completion targeted for Q4 2027.

The development's positioning reflects broader infrastructure investments transforming Phuket's economic landscape.

Proudputh cited new hospital facilities from Bangkok Hospital and Wattanapat Hospital, alongside government-backed infrastructure projects including the Kathu-Patong tunnel and expressway connections, as evidence of coordinated public-private sector commitment to upgrading the island's residential appeal.

"The private sector, particularly through Phuket's tourism associations, has demonstrated unusual strength in driving development," she noted, pointing to the successful lobbying for the Phuket Sandbox programme during the pandemic as an example of business community influence.

The project's wellness credentials form a cornerstone of its market positioning. Proud Real Estate is pursuing Fitwel certification, an American standard focusing on resident wellbeing through specifications covering natural lighting, cancer-free materials, and noise control. The certification extends beyond design to ongoing operational management including water quality monitoring and PM2.5 control.

Monthly common area fees of 120 baht per square metre include housekeeping services once monthly – an unusual inclusion aimed at addressing maintenance concerns for units with irregular occupancy patterns.

The project's scarcity value derives partly from Kamala Beach's land constraints, with large tracts held as Crown Property limiting private beachfront development opportunities.

Its connection to the InterContinental Phuket Resort – the only property in the brand's 200-hotel global portfolio to receive Michelin's 2 Keys rating – provides residents access to hotel facilities including Michelin-starred dining and spa services.

Foreign buyers can access 10-year government visas or Thailand Privilege Cards (Elite Visa) starting at approximately 5 million baht for extended residency rights. Under Thai law, short-term rentals below 30 days remain prohibited, though Proudputh noted a robust market exists for three-to-six-month lets serving digital nomads. She expects limited rental supply as most buyers intend personal use, potentially supporting investor returns.

The development represents Proud Real Estate's second collaboration with IHG Hotels & Resorts, positioning the company within a global network of just five InterContinental-branded residential projects worldwide.