Listed developer Raimon Land Plc will sell some of its remaining condominium units in Phuket, Pattaya and Bangkok on a fractional ownership basis, says chief executive Hubert Viriot.

The firm has launched three "Private Resident Clubs", under which units are divided into 13 saleable fractions. Each fraction entitles its owners to enjoy at least 21 days per year at the chosen club, as well as unlimited use of space if it is available.

Ownership is in perpetuity, and shares can be sold at any time.

Owners will also have access to more than 160 properties under the IFA Collection and The Registry Collection property networks. Members of the two collection programmes also have reciprocal rights to book the three additional new properties in Thailand.

Raimon Land will commit 51 units from three projects - The Heights in Phuket, Northpoint in Pattaya and The River in Bangkok - to the club, said Mr Viriot.

The company had no details of pricing as of yesterday.

"We have given ourselves the option of expanding the programme as the market demand dictates," he said. "We anticipate demand from three market areas: Thai nationals, expatriate foreigners and repeat foreign tourists."

The Registry Collection Programme is a global network with more than 35,000 members and more than 130 affiliates. The programme is operated by Group RCI, the worldwide leader in vacation exchange and the European leader in holiday rentals, and part of the Wyndham Worldwide group.

The IFA Collection is a luxury portfolio of international properties developed by IFA Hotels & Resorts, a major shareholder in Raimon Land, which specialises in developing mixed-use resorts

"We have given ourselves the option of expanding the programme as the market demand dictates," he said. "We anticipate demand from three market areas: Thai nationals, expatriate foreigners and repeat foreign tourists."