Istana's failure to deliver in Phuket

July 5, 2012 - PRLog -- Istana Phuket  - Momentum is key

A little birdie just told me that there maybe an article in the Daily Mail with reference to the Istana development on the West Coast of Phuket and unfortunately not in a positive light.

For those of you who are not aware, Istana is a luxury development with 19 villas ranging from $4.5 million to $8.95 million, designed by Gary Fell.  These villas recently won the Best International Architecture Award (Multiple Residence) at the Bloomberg TV/Google International Property Awards (IPA) at the Savoy Hotel in London.

However, there is a fundamental problem, they are not built and unless there is a huge injection of funds, the development remains nothing but a beautiful piece of land with a couple of half built villas and no immediate signs of progression.

The Istana Development was first advertised in 2007 and yet by mid 2012 we do not have much change in the appearance of the development.

Without naming names and pointing fingers, which would be unfair, as no one really knows what is going on, apart from the people on the inside. The Daily Mail coverage will surely post Phuket in a negative light.  Istana has been poorly executed and destined for failure through a multitude of reasons and I am sure it is not very high on a buyers list at the moment.

However this pictures cannot be painted for all Phuket developments, we have had massive success stories from the likes of Allan Zeman’s Andara development, selling 26 villas and 37 residences all completed and in operation and plenty of re-sales making buyers heaps of money, and now starting the Andara Signature villas that I guarantee will be built regardless of sales. Next to Istana is the Malaiwana development selling 15 of 19 villas and 15 happy owners, and have now released a new phase of Malaiwana Residences, Amanpuri building a new phase of 15 villas and Trisara still going strong and selling fully completed villas.

I am sure there are many articles painting the ‘doom and gloom’ picture as it is an interesting read, but just to let you know that this is not always the case and we have an abundance of success as well, you just have to do your research and choose well.

See articles http://zestrealestate.com/image-is-everything/ & http://zestrealestate.com/malaiwanasuccess/

All information on the developments mentioned can be found at http://zestrealestate.com/ultra-luxury-properties/