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
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.
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