Mr Siradej, left, Ms Natapa, centre, and Pruitsatorn Sakulthai, a senior partner at PIA Interior, at the launch event for the Dusit Ajara real estate brand.

Dusit Estate, the property development arm of SET-listed Dusit Thani, is keen to expand its new residential brand Dusit Ajara, catering to multi-generational living trends in Thailand and throughout Asia.

Natapa Sriyuksiri, managing director of Dusit Estate, said both local and overseas developers are interested in the Dusit Ajara brand for management contracts. The concept of Dusit Ajara aligns with the values of Asia-Pacific countries, where different generations of family members live under the same roof, said Ms Natapa.

Developers are seeking branded residences to develop next to their existing hotels, she said.

Dusit has a reputation for its experience in managing hospitality-led residential projects in Thailand and overseas, such as Dusit Thani Residence and Dusit D2 Residence.

Siradej Donavanik, vice-president of hotel business development at Dusit Thani, said in China, South Korea and Malaysia there's an opportunity for multi-generation branded residences because of their ageing populations.

Dusit Estate's latest project is the 2-billion-baht Dusit Ajara Hua Hin, the only Thai branded residence in the city, spanning 12,400 square metres of saleable area and 96 units. Under a 60-year leasehold agreement, this project comprises low-rise properties with seven buildings of three and six storeys, priced from 14 million baht.

The unit types include one bedroom, spanning 66-88 sq m, two bedrooms of 115-156 sq m, and three bedrooms covering 180 sq m. Four penthouse units are available with an area of more than 300 sq m on the sixth floor, offering a sea view.

The project's average price of 250,000-270,000 baht per sq m matches the average price of branded residences in the market, according to Dusit Thani.

"Developing a branded residence allows upgrades at a more premium price as we add valuable services for residents," said Mr Siradej.

The property offers services such as a 24-hour concierge, residential cleaning, management of common areas, and bonding activities. The common area fee costs 140 baht per sq m. Residents also receive Dusit Gold loyalty programme membership at its highest tier of platinum for use at Dusit hotels worldwide.

He said the target market is people who want to reside in the property, not for investment. Roughly 60% are expected to be domestic buyers, with the remainder foreigners from Europe and Scandinavia.

Despite the property slowdown in Hua Hin, Mr Siradej said the company remains confident in this location, banking on its operation of Dusit Thani Hua Hin hotel for 35 years, with strong demand from local families and senior groups.