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The Phoenician resort is planning to sell 12 villas, each for $200,000 to $400,000 plus.
It sounds like a bargain until you realize that these are fractional-ownership luxury villas, and you’re buying access for only three weeks a year.
The Phoenician Residences will join two other luxury fractional-ownership properties that Starwood Hotels & Resorts Worldwide Inc. has developed in the past three years.
A major renovation of seven existing villas on the Phoenician golf course will start this summer and should be completed by January. Five new villas are planned in 2008.
Twenty-five units in
Peter Corbett The