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Shangri-La Bangtao Update

Category: Real estate, Posted:06 May 2011 | 14:23 pm

Readers continue to write into the site asking for an update on the status of the former Shangri-La mixed use resort project in Bangtao.
Currently as those in the area can see part of the project which stalled during the global financial crises a few years ago has been put up for sale though CBRE Thailand.
On offer is 70 rai with 160 meter beach frontage of the 139 rai original site.
The owners who are the listed Indonesian firm PT Jakarta Setiabudi International Tbk. (JSI) reportedly have no plans on developing the property in the near future.
As Indonesia which is Southeast Asia'a largest economy is surging ahead the group who own three Hyatt properties and 4 run by international chain ACCOR as busy on the domestic front.
Certainly the parcel of land remains one of the most strategic hotel development sites and remains attractive given its proximity to destination resort Laguna Phuket.
Further up the road in Layan, Japanese firm Kajima are working on multi-million dollar ocean view villas which could enter the market within this year.

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