The NAKA Phuket
Clandestine perched on the western edge of Phuket, The NAKA Phuket epitome of contemporary design, featuring 94 glass-built villas nestled amid an exclusive beach and magnificent mountain. Equipped with a private infinity pool and balcony, each iconic villa optimally integrates the basic elements of nature with a sweeping view of the Andaman Ocean.
The hotel’s design is the brainchild of veritable architect Duangrit Bunnagand academic Dr. Chayanon Phucharoen. Armed with a PhD in economics, Dr. Chayanon Phucharoen rode against the odds and ventured into the real estate and hospitality industry through the establishment of his first hotel design: The NA. Phuket.
Coupling Business with Academics
COVERED ASIA: Coming from an academic background with a PhD in economics, how does that contribute to your success in the property development of The NAKA Phuket?
Dr. Chayanon Phucharoen: Economic tools are good for business decision making. However, investment decisions cannot solely rely on economics for the final decision. Initially, The NA. Phuket was an investment project that I did not concur with, as the financial projections did not look good. Using a regression analysis, other quantitative tools were conducted to determine if the board of directors should invest in this plot of land. At that point of time, the financial indicators did not look good.
The Last Plot of Land of the West Coast
COVERED ASIA: Despite the unfavorable projected quantitative indicators, why did you go ahead with the real estate development project?
Dr. Chayanon Phucharoen: Our two founders are equipped with the animal spirit or strong business acumen. From their gut feelings and long-accumulated experience, they had proven investment paths. Both of our founders had explained to me the reasons behind this project’s decision, as Phuket can be divided into the East and West Coasts. When you take a satellite picture at night, you will find that the West Coast is the brightest region. The bright lights indicate that most of the major developments occur in the West Coast. The NAKA Phuket was among the last freehold plots of land available for sale in Phuket. As it was among the last legitimate freehold plots of land available, they believed that this was a good investment opportunity.
Academics and Real Estate
COVERED ASIA: Would you concur that academics has no place in the realms of real estate and investments?
Dr. Chayanon Phucharoen: No. The study of economics is a good tool to improve business models. Academics can show the calculated risks involved in an investment project. For example, we ran a test to research the most important indicator that affects our customers’ satisfaction. Using a multiple regression analysis on one of our premises, the results show that
For more information on The NAKA Phuket, visit https://www.thenakaphuket.com/