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**Area 32,500 sqm**
*(USD 8.8 million / THB 290 million)*
*14.0 million baht/rai*
**Investment: Purchase of 32,500 sq.m of sea view land in Rawai, South Phuket, just 100 meters from Rawai Beach.** The property consists of 35 land titles *chanote* and has permission to build villas, condominiums and hotels up to 16 meters high.
The site is located next to the Rawai Palm Beach Resort and only 200 meters from the successful Title project with over 300 condominiums. Rawai is an actively developing area.
**Price: USD 8,800,000** *(290 million baht)* is a significant discount from market value.
**Additional benefits:**
The plot is equipped with all the infrastructure: 4 large villas, sales office, paths, sidewalks, fences, underground electrical wiring, drainage and year-round water supply - the cost is about 70 million baht, included in the sale price.
**Development Opportunities:**
This site is suitable for a 4 year development program with a mix of 5 level condominiums and 1-3 level villas - all on relatively flat terrain for easy building.
**Yield:**
Estimated cost after development of this site (with mixed condominium/villa development) is estimated at 50 million baht/rai, which is 1.015 million baht for 20.3 rai – Target profit over 4 years - 725 million baht (US$22 million) (price of developed land 1,015 million baht minus the cost of 290 million baht).
**Lot Description:**
The area of 32,500 sq.m is part of a larger plot of 50,000 sq.m. The remaining 17,500 sqm will also be developed with mixed high-end condominiums and villas ranging from $300,000 to $3,000,000.
**Building Permits:**
The total area of 50,000 sqm has an EIR (Environmental Impact Assessment) approval issued over 10 years ago for villas. Before completing the purchase, the buyer will be able to verify that the existing EIA will be canceled and two new EIA permits can be requested for the 32,500 sqm and 17,500 sqm plots.
Lazudi
Phuket Realtor