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IFA Takes Larger Stake In Raimon Land

Category: Real estate, Posted:10 Aug 2009 | 16:47 pm

Middle East institutional investor IFA Hotels and Resorts has increased its interest in Thai listed property developer Raimon Land by 14.92%, which effectively brings shareholding to 41.07%. During the economic downturn IFA has continued to put short term operating loans into the local firm as it regards longer term recovery fundamentals as strong. Two of the groups projects are located in Phuket with Kata Gardens which is sold out and The Heights holding only a few remaining unsold units. IFA has also established a permanent port for one of its Yacht Membership vessels which is part of a global scheme targeting high net worth individuals.
Recently Raimon who are developing a mega project in Bangkok 'The River' were able to acquire the defunct Lehman Brothers interest in the project through an acquisition. This current consolidation of the project has resulted in a syndicated refinancing of the project of 5 billon baht by a consortium of 3 leading Thai banks. In spite of a downturn the firm looks to be taking strong measures in ensuring its longer term financial health back of these actions.

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Direct Bali Phuket Flights Return in Phuket

Category: Hotels|Tourism, Posted:14 Jun 2024 | 08:15 am The once popular Phuket Bali flight route will see AirAsia restart direct flights from 10th August 2024. AirAsia Indonesia will be the carrier and flight frequency will be three times a week. Bali hosted nearly 600,000 international visitors in May with Australia ranking 22.5% share, followed by India with 11.3% and China on the rise […]
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Registration Open for Mind the Gap – Women & Diversity in Hospitality – A Learning Event

Category: Hotels|Tourism, Posted:13 Jun 2024 | 09:55 am Diversity, inclusiveness, and equality are core issues for the hospitality industry. C9 Hotelworks and the Phuket Hotels Association have organized a learning event titled ‘Mind the Gap, Women & Diversity in Hospitality on Saturday 31st August at the SAii Laguna Phuket. Join us in this unique, candid, and insightful half-day session that takes a closer […]
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Samui’s Booming Villa Rental Marketed Featured in New C9 Hotelworks Report

Category: Hotels|Real estate, Posted:11 Jun 2024 | 07:04 am Standalone villas shake up traditional hospitality supply as the market rises. Increasing demand for multi-bedroom accommodation growing, coupled with a preference for spacious and private villas according to new research from C9 Hotelworks in their new Samui Villa Rental Market Review. In recent years, private villas rented as vacation homes have emerged as a significant […]
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