BELLINGHAM, Wash., Jan. 3, 2007 (PRIME NEWSWIRE) -- Asia Properties, Inc. or "API" (Pink Sheets:ASPZ) reported today that the ownership titles to five homes in the Phase I section of the Baan Naiyang Resort, have recently been transferred to the buyers in Phuket, Thailand.
Daniel McKinney, Asia Properties, CEO said "We are pleased with the progress on Phase I, with families starting to move in, and expect the developer to complete construction and transfer of many more of the homes in Phase I over the next few months."
The Baan Naiyang Resort subdivision offers five styles of homes, all of which are designed to blend traditional Thai architecture with a contemporary Balinese look. Home sizes vary from 1,582 sq. ft.(147 sq.m.) to 3,337 sq. ft. (310 sq.m.) and land parcels sizes are up to 5,167 sq. ft. (480 sq.m.) with prices starting from US$112,000.00 up to US$260,000.00
Just 10 minutes South of Phuket airport, Baan Naiyang Resort, is an international gated community located near the Naiyang beach. The site borders a national forest and is framed by a tropical jungle with rolling green hills nearby. As no building or development is allowed on national forest land, the resort will always retain its natural surroundings.
Please see pictures (mid January 2006) of site progress at: http://baannaiyangresort.com/progress.html
About Asia Properties, Inc.: Asia Properties, Inc. was established to invest in resorts and prime real estate in Thailand and Southeast Asia. Asia Properties currently operates as the only listed U.S. public company focusing on S.E. Asian real estate investments, where investors can invest in Asian real estate and hold the investment in the form of a security trading on a U.S. securities market.
The Asia Properties, Inc. company logo is available at: http://www.primezone.com/newsroom/prs/?pkgid=1733
For up to date corporate information about Asia Properties, Inc. contact Daniel McKinney (360) 392-2841 or (http://www.asiaprop.com). For property inquiries contact: Jill Lerlertkul, Phuket Sales Manager. Cell +6681-0135136, email: jill@asiaprop.com
Statements, which are not historical facts, are forward-looking statements. The Company, through its management makes forward-looking public statements concerning its expected future operations, performance and other developments. Such forward-looking statements are necessary estimates reflecting the Company's best judgment based upon current information and involve a number of risks and uncertainties, and there can be no assurance that other factors will not affect the accuracy of such forward-looking statements. It is impossible to identify all such factors, factors which could cause actual results to differ materially from those estimated by the Company. They include, but are not limited to, government regulation, managing and maintaining growth, the effect of adverse publicity, litigation, competition and other factors which may be identified from time to time in the Company's public announcements.