The time-share operator Absolute Group has introduced a fractional ownership programme for high-end properties in Phuket and Samui to offer holiday home buyers opportunities to have partial ownership.

Chairman Bryan Lunt said the programme was designed as an alternative for holidaymakers or Thais to own property for the desired period of time for their holidays rather than buy a unit that is used only a few times a year.

Fractional ownership, often known as shared ownership or co-ownership, involves between three and 13 people buying one unit among them. It is different from time-sharing, which is for simple use for a set period and much more affordable as it is broken down into weekly intervals.

Seven units of Absolute David Lloyd Beach at Nakalay, a beach near Patong Bay in Phuket, are up for sale. The project is developed by a joint venture between Absolute Group, former Wimbledon champion David Lloyd and A Plan Co, which is the land owner and developer.

The project comprises 33 units and almost 80% were sold three months since the soft launch. The seven remaining units would be available on a fractional ownership basis at prices starting from 775,000 baht for a four-week or 28 night ownership period each year for life_ a series of renewable 30-year leases.The fractional ownership programme is also available for the Bangla Suites project, a luxury apartment in Soi Bangla in the heart of Patong.

The project comprises 53 units and is 85% sold. The seven penthouse units are being offered at 1.75 million baht for a four-week or 28-night ownership period each year.

Another project is at Thongkrut on Koh Samui, a luxury resort with 17 exclusive units that is now in the final design process