MBK Undecided Over Pattaya Resort Land
Thai listed group MBK are unsure about developing a prime 18 rai oceanview site in Pattaya according to comments made to the Bangkok Post by a company executive.
Currently the Montien hotel occupies the site but it's lease will expire early next year.
MBK is viewing the option of either development a large-scale hotel and condominium project or else selling the land parcel in the leading resort destination.
Recently the group co-invested into a Maldives resort with Dusit Thani.
The company expects revenue from a land sale would bring in over THB1 billion which equates to approximately THB55 million per rai.
In Koh Samui MBK also have a large underdeveloped resort plot in the Choeng Mon area.