(KPL) Irin Property Company has joined hands with three other companies Wyndham Holding Group, ERA Company (Thailand) and Big Blue (Laos) Company to launch a condominium project Wyndham Garden Irin Bangaray Pattaya worth almost 300 billion kip (over US$ 34.6 million).
The real estate project is located in Bang Saray Pattaya, Thailand.
The project will create a new dimension of condominium investment in a 4-star hotel management style, counted as a new type of real estate, together with the project management team “Wyndham Hotel Group” by using international hotel principles, said Ms Irinraya Pattanawiranon, Board of Directors of the Irin Property Company.
In the Bangsaray area, some hotels do not meet quality service standards so this is a good opportunity for the WYNDHAM Holding Group to build Wyndham GARDEN Hotel Irin Bangsaray Pattaya that meet international standards for foreign tourists as well as VVIPs, said Mr David Rehn, Deputy Director of Operations and Project Development for the Wyndham Hotel Group in Southeast Asia and Asia Pacific.
At present, this type of investment requires both domestic and foreign investors. Investment in Bangsaray is a new way to generate passive incomes, said Mr Voradet Sivatachanon, Chief Executive Officer, ERA Holding.
Bang Saray is a small fishing village located 15 minutes drive east of Pattaya. It is expected to become a boutique area away from busy Pattaya.
This project is interesting to investors in the Lao PDR, because it can be fully owned by foreigners and we have confidence in the management team of Wyndham Hotel Group, said Mr. Santharak Chasan, Chairman of the Board of Directors, Big Blue (Laos) Company Limited.
Source: Lao News Agency