Vilailux scores a success, plans to broaden scope

The company's general manager, Teeravat Pipatdhitakul, said the fresh phase of investment would start after its Phuphatara residential project is completed by the end of the year.

"We cannot say where the next project will be but we have a land bank of about 100 rais in Bangkok and other tourist destinations, such as Hua Hin and Phuket. However, we hold a strong interest in developing other projects after our success in selling 68 per cent of the Phuphatara project, which has a project value of Bt2.2 billion," he said.

The project has three high-rise condominium buildings, 19 villas with pools, four beach villas and 16 low-rise condominium units on the beachfront. 

Teeravat said that 40 per cent of buyers are foreign investors who want to buy a second home in Rayong. Most of its foreign buyers are interested in beachfront properties.

Due to this, the company changed its plan to build beachfront villas and instead built beachfront condominiums to support this demand.