Ethos Asset Management Inc., USA Announces Deal for a New Development on the Island of Koh Samui, Thailand with Villa and Resort Developer, Anamaya Samui
Ethos Asset Management Inc., USA, announced a new long-term financing partnership with Anamaya, a Thailand based villa and resort developer launching their prestigious, eco-friendly hotel estate with residences of the highest quality that will be recognised as the most desirable place to stay in Koh Samui. Full concept and architectural drawings have been completed by the world renown architects at A-MDM lead by Misha Povstaniuk which have won multiple international awards to date. Land sale contracts have been signed by all parties. The development consists of 60 hotel rooms with amazing sunset sea views, 24 beach-side hotel rooms. There are a further 81 luxurious apartments and 12 beach-side pool suites and 17 villas that will go on sale.
Ethos and Anamaya have been working together closely in recent months structuring the overall investment with a significant capital infusion of $60 million USD, that will continue for several years.
Carlos Santos, President, and CEO of Ethos, stated, “We are thrilled to be partnering and supporting such a prestigious hotel and developer brand in Thailand, led by passionate and innovative entrepreneurs, Andrew Walmsley, Anton Cornel Webb and Michael Blonsky. We are honoured to be associated with an expert such as Andrew Walmsley, who has 13 years’ experience in Koh Samui, Thailand with 5 developments to date including the multiple award-winning villas at The Ridge and Oasis Samui. As the founder and owner of IVL Property Co., Ltd., a leading real estate agency, Andrew has great insight and deep connections within the Koh Samui real estate market.
We look forward to working with Anamaya for the long term and I’m exceptionally pleased at the rate of growth and expansion of Ethos and our commitment to investing in luxury hospitality markets in Asia Pacific. This is particularly special as it is our first investment in Thailand. I would also like to personally thank our U.K. Associates, Mike Starvis, CEO, and James Young, COO, Prestige Commercial Holdings Ltd., for introducing Ethos to Anamaya and for their immense support and skill in assisting the structuring of the deal to successful completion.”
Andrew Walmsley, CEO, Anamaya Samui, said, “It’s been wonderful working with Ethos as our financing partners who have made it easy in a normally very challenging sector of development financing in Thailand. They truly understand our vision of creating a new exciting concept of a self-sustainable tropical haven in a world class luxury environment and have been very supportive.”
Anton Cornel Webb, Board Member, Anamaya Samui, said, “Having been involved with Anamaya from it’s early days of conception and through some very testing times in international real estate, I am extremely happy to have finally identified Ethos as our funding partner for the project. They are a partner whose support we look forward to having now and into the future, with both side’s interests firmly aligned. It is certainly an exciting time for the Anamaya team and our partners.”
Michael Blonsky, Director, US Sales, Anamaya Samui, said, “With Ethos Asset Management as our financing partner and offering us full funding for all of the construction costs, we are able to offer an incredible large-scale development without many of the common risks associated with building large scale projects that rely on sales to fund ongoing development. That allows us to build out the infrastructure, the amenities and the villas and apartments in a more evenly paced manner to ensure that buyers get to move in to a fully functioning 5-star resort rather than a construction site. From a global sales perspective, this eliminates much of the risk buyers typically face and this is a huge advantage for Anamaya Samui!”
Mike Starvis, CEO, Prestige Commercial Holdings Ltd., said, “Prestige is delighted to be able to facilitate the relationship between Anamaya Samui and Ethos. Our congratulations on this milestone achievement. We look forward to working with both parties on the expansion of their projects and funding needs.
We have built an excellent working relationship with the Ethos team, and they are supporting us with our pipeline of projects from our clients and our network.”