FAQ’S
Q) Who are the owners of the Khirana Samui project?[show/hide]
A) Khirana Samui is owned by a private group of investors made up of the following skill sets and experience: A highly respected Local Samui family with decades of experience in the service and hotel service business. This family also own restaurants and other tourist related businesses. Being established local families in an environment where reputation is paramount we provide an unrivalled level of accountability to our buyers.
A 30+ year experienced, highly sort after Bangkok Born Architect who has influenced the development of Koh Tao over the last 12 years and has brought his flair and style to develop the Khirana Brand.
An English Investment Professional and Banking Advisor who has run and managed numerous investment companies, projects and developing business in the UK, The Middle East having been based in Dubai and Qatar for 6 years, and now Asia having settled to Thailand some 5 years ago.
Q) The ownership of units is 30 year leasehold, why is that?[show/hide]
A) At this time there is no clear and genuine legal structure for foreign purchasers to own landed property in Samui, whatever your friends or local lawyers will tell you. We believe in honesty and as it is absolute that a 30 year lease can be registered in a foreign person’s name, without the complications of setting up companies, having accountants and all sorts of legal mess we feel this is the most appropriate and fair way to sell our product.
The project has been designed as a resort and a major factor for any owner will be the income it can produce. Having analyzed the investment characteristics, offering this product at the prices we have set makes for a very attractive purchase with no risk or unanswered questions.
If you have any questions regarding the purchase structure please do not hesitate to contact us and a full explanation can be provided.
Q) What legal structures do you recommend when purchasing in Thailand?[show/hide]
A) We do not recommend legal structures we are not a legal practice. Many developers make faux promises to prospective buyers about the suitability of different buying methods.
We are offering a 30 year lease once the resort is complete and operational and will be securing fully registered leases at the land office with each new buyer. As we are offering just the lease option the issues of foreign ownership do not come into play as this is 100% legal and above board.
Q) Many developments on Samui don’t seem to ever be completed because the developer does not have money and the lower quality plots never sell. How do we know this is not going to happen at Khirana Samui?[show/hide]
A) Firstly the developer is supported by a number of business interests that do not relate to the Samui property market thus making them secure in times of uncertainty in the market.
More importantly the project is being structured into small phases as the aim is to create a peaceful living environment. We are looking to create a footprint on the island as this is our first retail development here on Koh Samui and therefore we have priced the properties at around 40% under market price to enable us to sell quickly.
As our buyers will see the initial construction will focus on the common infrastructure as well as preparing the holiday cottages, as we are also planning to retain a number of units we will make sure we can open the resort on time and complete as this forms part of our own business strategy for the long term.
Q) Can anyone buy one of the properties on the Khirana Samui development?[show/hide]
A) Yes and No. The offer to purchase is open to all and we have no preconceived ideas about the potential owners of this resort development.
However, this is a long term business proposition for the owners who will be managing the resort and common facilities and as such we would hope to select a good mix and balance of owners and weed out those who may not be suitable for a harmonious environment in the future.
Samui is our home and we will be involved on a daily basis with the project so we want to work with and support likeminded people who care about the environment and their neighbours.
Q) Can you provide finance / mortgages?[show/hide]
A) Being highly experienced in the investment and banking arenas we can discuss with you options in terms of borrowing if required. If you have assets in other countries it may be appropriate to use cross border structures or equity release plans to reduce interest payments as interest rates available in Thailand are not competitive compared to other major currencies. Please ask for further details and we will try to assist.
Q) What guarantees do you offer in terms of the property or the future rental income?[show/hide]
A) At this time in Thailand there is no construction guarantee scheme such as the NHBC certificate provided for new properties in the UK. However, our commitment to our buyers is that we will maintain and correct any structural defects for first 10 years as a formal guarantee and will aim to provide lifetime support as we care about our product.
In terms of rental guarantees we will explain to all of our interested purchasers how this mechanism works and why it is a complete “con” to those stupid enough to fall for headline numbers. The resort has been developed using our own “real” occupancy rates from our own resorts and we believe that Khirana Samui, being unique will attract similar, if not better results once it is established.
Our guarantee is that we will work with you to make the resort a success; after all, this aspect of the business affects our own future revenue too. We gain as partners with our buyers if we are a success; this we feel is the most fairly balanced of relationships.