BANGKOK, 3 September 2020: HOMA, a rental housing venture between Asia Capital Real Estate and NOON Capital, is developing a portfolio of rental apartment properties and co-living spaces which combine residential and hospitality features key destinations in Thailand.
The first two projects are in prime Phuket locations. HOMA Phuket Town (opening 3Q 2021) is a 505-unit rental housing property located in Phuket Town, within walking distance of Bangkok Hospital Phuket, Vachira Hospital and Rajabhat University.
HOMA Cherngtalay (opening 3Q 2022) is a 422-unit asset located near Bang Tao beach within walking distance to Boat Avenue, Porto de Phuket and Laguna Phuket Resort.
HOMA’s co-founder Luca Dotti said: “We are committed to Thailand and the Asia Pacific for the long term. That reflects our confidence in the country, and its ability to bounce back as the Thai economic recovery continues to gain momentum.”
ACRE founder & managing partner Blake Olafson added: “After investing in more than 20,000 apartments in the United States over the past eight years, we also see a trend developing in Southeast Asia that is making rental properties more appealing to young professionals and young families.”
Both Phuket properties will offer an attractive combination of affordability, lease flexibility, along with great common area facilities and social areas. HOMA designed both Phuket apartments to serve not only young working professionals, leisure and business travellers, digital nomads, and expatriates, but also young families, who are looking for Phuket holiday rentals or long-term professionally managed rental accommodation.
All studio, one, two and three-bedroom apartments are self-contained with private kitchens and en-suite bathrooms.
HOMA is part of a joint venture between Asia Capital Real Estate (ACRE) and NOON Capital (NOON) created in 2018. In the next five years, ACRE and NOON aim to invest over USD250 million to develop six HOMA projects across Thailand. HOMA also plans to introduce the brand to other major markets across the Asia Pacific region.
The article appeared in TTR Weekly.