Bangkok--15 Sep--IREIFS
Klaus R. Rauter, Managing Director of Mai-BS (Thailand) Co. Ltd did recently talk with Mr. Pat H. Collins, Asia’s Regional Director of IREIFS Investment Group, a Paris based privately held investment and private equity house about investor confidence in Thailand and the following is a summary of what this reputed and respected investor had to say about their own plans for Thailand.
“IREIFS is expanding its global Hotel and Resort investment into Chiangmai, Thailand. The Group has entered into joint ventures for 2 new resorts, one in the established world class resort area of Mae Rim and the other on the city’s Ping River. The Group is also finalizing negotiations for the purchase of a city hotel property.
The Group will shortly commence development of an upscale exclusive Eco-tourist resort on the 40,000- square meter Mae Rim site with completion due December 2011. The resort will consist of 30 luxury villas and a 20 suite Lodge overlooking a serene mountain valley, its own waterfall and 2, year-round, fresh water streams.
Our concept is to provide luxury lifestyle living and accommodation to our owners and guests in modern yet eco-friendly villas and suites, in a Thai mountain village style environment.
The Resort will exceed full 5 star standard and will be managed by a carefully selected international standard operator. Each villa and suite will have 24 hour butler service. Additionally as part of our eco responsibility we will develop only 30% of the entire site, with the balance left as natural area.
IREIFS has carefully selected the Resort site over many years taking into account its unique location and attributes such as the natural waterfall, streams and the great climate which never exceeds 28 degrees C, even in Thailand’s hot summer. A limited number of Villas will be made available to owners and investors on an “invitation-only” basis. Benefits to owners will include complimentary annual use of 30 days in their Villa and other benefits through the Resort. The rest of the year the Resort operator will manage a thoughtful pooling program which will enable owners to achieve attractive rental returns over time. Seven Villas have already been reserved.
Asked about the style and designs of the Resort and individual Villas, Mr. Collins responded, “that’s closely held information — but let us assure you they will be truly unique, luxurious and ‘with nature’.”
And the Operator IREIFS has selected, can you tell us about them? “That information is also not for public disclosure at this time.”
IREIFS also plans a Hospitality led accommodation development on the Ping River consisting of 88 condominium units, retail shops and restaurants on a riverside site of just over 22,000 square meters. This development is planned for completion in late 2012. Again IREIFS has carefully selected this location and with the right resort operator it will cater for resort guests as well as medium to long term owners needs in respect of hospitality, services, shopping, medical and easy access to transport including the airport.
The combined investment of the projects is in excess THB [1000 million] and the creation of around 500 jobs represents a significant investment in Thailand attracting high-end tourism and retirement lifestyle living markets which will also raise the profile of the City.
IREIFS maintains a strong belief in Thailand and particularly in the growth outlook of Chiangmai as South East Asia’s preferred eco-tourism destination and retirement or second home center for foreigners. We fully support the Thai economy and believe these investments and developments will attract wealthy owners and guests to the Lanna culture of northern Thailand, said Mr. Collins.
Mai-BS (Thailand)
Klaus R. Rauter
[email protected]
http://mai-bs.com
IREIFS
Pat H. Collins
Email:
[email protected]
http://ireifs-group.com
Public contacts to:
[email protected]