Early this week I had been on a FAM trip to Oaks Prague (Czech Republic). Before I would share my impressions and thoughts about the golf resort it is interesting to understand the needs and expectations of affluent consumers and golfers in 2020.
The Globalwebindex’s Audience Report 2020 found about affluent consumers:
- Highly ambitious, career-driven, and value status. It means they place significant value on status and exclusivity.
- 70% of them saying they tend to buy the premium version of a product.
- They are an early adopter of smart technology (e.g. smart home technology).
- They are highly brand-oriented.
- 30% – discover brands via word of mouth. Learn more about influencer marketing.
What this report has not mentioned is the growing popularity of luxury health and wellness.
The aging European population will look for solutions to deteriorating health while the younger ones will try to do their best to avoid the long-term effects of aging.
I thought to share with you these insights since in my previous post about the development of Oaks Prague I questioned the benefits of becoming the PGA National Czech Republic.
During the FAM trip on Tuesday (Troon International invited me to the event) I had the chance to talk about the Oaks Prague project with
- Alice Slámová (Head of Sales & Marketing, Arendon Development Company) – Oaks Prague is being developed by Arendon a.s. Arendon is part of the Decimus Real Estate group.
- Simon Doyle – Director of Agronomy, Troon.
- Clinton Norris – Director of Sales & Marketing, Troon International.
Oaks Prague – updates & my impressions
Let me start with the updates and the missing information:
- Premium residential living: The aim is to become a highly sophisticated, fully-services living to suit the 21st-century lifestyle.
- Oaks Prague planned to be completed by 2028.
- The PGA National Czech Republic golf course and hospitality amenities will be operated by the developer.
- The developer is currently building spacious green view apartments. It is planned to be completed by mid-2021. The first sets of units will be completed by the end of 2020. They are townhouses with private gardens. The townhouses are built on land plots from approximately 500 sqm to more than 1000 sqm, and living areas starting at approximately 300 sqm in each house.
- The front line villas (1500 sqm up to 5000 sqm) adjacent to the golf course are in the planning stage.
- The 19th-century Chateau will be restored and revived and will function as a clubhouse.
- The PGA National Czech Republic is participating in the On Course program of the Golf Environment Organization.
- By 2028 there will be cca. 430 homes in Oaks Prague + luxury boutique hotel, spa and wellness, commercial premises, a PGA National Czech Republic golf course, golf club, wine cellar, kindergarten, tennis courts, equestrian center, and concierge services to support the residents.
The future luxury 5-star boutique will be managed by an internationally renowned luxury operator.
Since Troon is in cooperation with Marriott Vacations Worldwide, I believe it will be The Luxury Collection. This is just a guess of course.
It was a surprise for me that they partnered with Lexus and not with BMW or Mercedes Benz.
The first nine holes of the PGA National Czech Republic were ready in September 2019, the second nine holes were ready to play from the beginning of this month.
The half-ready golf course did not hold back the 2,000 golfers who have already played here.
Oaks Prague – my impressions
What I really appreciate in the Oaks Prague project that it is not just about designing and building a championship golf course (by Kyle Phillips) and adding some high-end houses.
Instead, the developers created a really well-designed concept of how they can impress and serve affluent consumers and golfers.
Although I have not received a real estate ‘buyer persona‘ definition but based on the list of planned amenities and services you can have the impression that they really want to fit into these affluent consumers’ lifestyles.
The developer is cooperating for instance with Deutsche Telekom to provide high-speed Wi-Fi on every part of the resort but also smart home solutions.
I would not criticize the quality of the turf since we are talking about a very-very young golf course. Nonetheless, the greens were great and fast.
I found 5 sets of tee boxes. So the golf course is not only for single HCP golfers!