"The Cove Krabi" Project, Thailand Is Placed On The Market by Asian Tropical Homes

The 73 hectares or 460 Rai of contiguous chanote land, The Cove Krabi project has been placed on the market by the Directors of Asian Tropical Homes.
  • (1888PressRelease) October 20, 2010 - The project site known as "The Cove Krabi" has been put up for sale and placed on the market by the directors of the Asian Tropical Homes Group (ATH). The site occupies some 73 hectares of prime development land in the Had Yao Beach area of Krabi Province and boasts over a half a kilometer of absolute Andaman beachfront, overlooking Koh Phi Phi and the other islands of Phang Nga Bay.

    When The Cove Krabi first hit the international property market it was being touted as Krabi's answer to Phuket's "Laguna Phuket" project, associated with such names as Colin Montgomerie as the golf course designer and various high profile global glitterati as project ambassadors.

    The project vision comprised several branded hotels, marina, The Montgomerie Krabi" golf course and unparalleled quantities of real estate to satisfy Krabi's ever growing number of high net worth visitors from both the region and globally.

    The decision of the ATH team, and ultimately John Grice, the group CEO, follows several years of economic and political turmoil and has not been taken lightly.

    "The potential and opportunities this particular site has to offer the right developer are boundless, anyone with vision will see and realize this" said John Grice.

    Mr. Grice, a businessman of renown in the region added "Unfortunately this site will not now be developed by ATH. Due to the global economic and local political climate we have after 5 years decided, for the protection of our shareholders, to pass the opportunity onto someone else".

    Col. Banning, the group Finance Director, supports the Board decision and said that "the decision is in the best interests of shareholders and other stakeholders, after several years of managing through considerable turbulence". He added that he "expected a reasonably quick outcome given the high level of interest shown over the years from hotel and golf groups which understand the huge potential of the Krabi province".

    The project site is in, what many would describe as a unique position, overlooking the Islands of Phang Nga Bay to the west and The Phi Phi Islands in particular and views of the limestone karsts of Ao Nang, synonymous with Krabi, framing the whole of the projects northern views. In addition the island network leading south to Koh Lanta begins a coconuts throw from the southern extremity of the projects beach.

    Had Yao Beach itself has attracted a flurry of interest over the last couple of years, with several boutique beach resorts opening, one of which, "'The Beach" has been dominating "Tripadvisor.com" ratings somewhat over its seasoned Krabi contemporaries in its first year after opening, a remarkable achievement indeed.

    On a final note, John Grice believes that the whole Had Yao Beach area, with the right mix of brands, diversity of attractions and local government design control and due diligence will come to rival not only the local destinations of Ao Nang and Ko lanta but of Laguna Phuket itself, currently the benchmark for all integrated resort projects in Thailand and the region.

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