VRANDA to start Phuket luxury project transfers in July after nearly 70% of units sold

VRANDA said it is ready to begin transferring ownership at its Veranda Villas & Suites Phuket project from July, after sales climbed to more than 550 million baht, or nearly 70% of the project’s total value.

Chief Executive Pawat Ongvasith said the luxury residential market in Phuket, especially pool villas and high-end residences, is growing in 2026 as the island strengthens its role as a global destination for second homes and relocation. He said demand has remained strong among high-net-worth buyers from both Thailand and overseas who are seeking assets that offer both investment value and a premium lifestyle.

According to the company, Veranda Villas & Suites Phuket has recorded sales of more than 550 million baht out of a total project value of more than 823 million baht since its presales launch. Only four units remain available for sale.

The company said the project is fully prepared for handover, with facilities completed and ready for use. It said the development’s architecture, landscaped grounds and common areas were designed to reflect a luxury standard and support immediate residential use or holiday stays.

VRANDA said the ownership transfers will be a key driver of revenue growth in the third quarter of 2026, allowing it to recognize a significant contribution from its real estate business alongside continued growth in its hospitality operations.

Pawat said the company plans to continue developing luxury residence projects in high-potential locations to increase property sales revenue while balancing that with recurring income from its hotel business. He said the Phuket project demonstrates VRANDA’s ability to combine property development with hotel-style service through a branded residence model.