BANGKOK, 29 October 2020: Aquarius International Hospitality Development (AQI), unveiled its first project, Wednesday on Chang Island off the coast of Trat province, Thailand.
Aquarius Residences & Resort, Koh Chang, owned by Norcal Venture Capital Group Limited, opens sales for a collection of luxury pool villa and condominium residences.
AQI touts an ambitious five-year plan that encompasses resorts, residences, yacht charters, restaurants, gourmet dining stores, online travel booking and membership services that will have an estimated value of USD250 million.
Aquarius Residences & Resort, Koh Chang is under construction on Chang Island and should open in three phases starting in 2022.
Sales are now open for the 23 Pool Villa Residences with a starting price of THB 41 million.
The 99 Condominium residences spread out in seven three-level buildings have a starting price of THB 8 million. Chang island, once identified for eco-friendly development, is now following the flawed business models of Samui and Phuket where commercial considerations take precedence of environmental concerns. The island is a considerable distance from Bangkok requiring a seven-hour drive to the ferry port linking travellers to the island. There are direct domestic flights to Trat Airport that is owned by Bangkok Airways and therefore limits competition and keeps fares high.
And so begins the fall of a once quiet island . Paradise lost.