change in strategy and the entire building will be opened as a five-star hotel in October this year, managed under a 10 year contract by international hotelier group Pan Pacific Hotels and Resorts.
Of interest to investors, however, is the fact that as many as 100 of the 44m2 units are available for freehold sale, with around 50 per cent already reserved or sold. In what is believed to be a first for Thailand, a fractional ownership arrangement will give private investors a chance to invest in a portion of the hotel, with a guaranteed 10 per cent return for the first three years and a proportional profit share from the hotel thereafter.

Aiming to open in time for the Chiang Mai International Horticultural Exhibition in November, which expects over 2 million visitors in a three month period, the hotel will be one of the first in a string of new luxury hotels that are speculating on the city´s growth in high-end tourism. A limited number of 132m2 corner units with excellent mountain views are also available for owner occupation by arrangement with the hotel.
Hillside 5 is one of the tallest and largest recent condo developments in a city where new development is now limited to seven storeys, and abuts the Hillside 4 condotel which is popular with foreigners due to its convenient location on Huay Kaew Road. It is also part of the largest consortium of condo buildings in Chiang Mai, numbering 10 in total. The strategic restructuring and international marketing and sales is handled exclusively by Lifestyle Living Asia.
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