Phuket Property News: Highlights for August 14-18, 2023

Raimon Land to Launch 'Rosewood Residences Kamala' in Phuket, Extending Luxury Portfolio After 42% Sales Growth

Raimon Land Public Company Limited, under the guidance of CEO Mr. Korn Narongdej, is preparing to launch the 'Rosewood Residences Kamala' project in Phuket. The company is expanding, and this announcement is a big part of that strategy. After seeing a 42% increase in sales during the first half of the year. The ultra-luxury condo such The Estelle Phrom Phong has seen a transfer of 85% worth 3,600 million baht when compared to the previous year. The company aims to strengthen its position in the booming real estate market and help reach its year-end sales goal of 6,700 million baht. They're launching a new project in Phuket. This project will feature low-rise ultra-luxury residences. It fits perfectly with Raimon Land's dedication to luxury and ultra-luxury real estate development. By introducing this exclusive special round in Phuket. 

Further Details: https://www.bangkokbiznews.com/property/1083686

All Inspire Development Faces Financial Crisis: Suspension of Key Projects and Rehabilitation Plan Underway Amid Growing Concerns in Thailand's Real Estate Industry

All Inspire Development Public Company Limited (ALL), a Thai real estate developer, is facing severe financial difficulties leading to the suspension of several projects and a potential filing for rehabilitation. Mr. Thanakorn Thanawarit, the CEO of the company reported to the Stock Exchange of Thailand about the company's lack of liquidity. With accumulated losses of 2.5 billion baht and current liabilities exceeding current assets by nearly 2 billion baht. One of the projects that has been impacted is the Impression Phuket project, where construction has come to a halt. Customers have begun to demand refunds for projects that have not been completed as scheduled leading to further financial strain. This situation has turned into a big problem in Thailand's real estate industry. The company's ability to navigate these challenges and fulfill its obligations to customers and creditors is being closely watched. The company's board has approved the preparation of a business rehabilitation plan, and legal assistance has been sought to submit a petition for business rehabilitation.

Further Details: https://www.bangkokbiznews.com/property/1083887

Central Retail Corporation Announces Ambitious Expansion into Tourist Towns, Targeting Phuket with New Shopping Centers After 37% Growth in First Half of 2023

Central Retail Corporation (CRC), led by CEO Mr. Yol Phokasub, has big plans for the second half of 2023. They want to expand into tourist towns building on a strong first half of the year. Where sales went over 1.23 billion and profits hit 4,002 million marking a 37% growth. They're speeding up the investments in Thailand, Vietnam, and Italy. Which focuses on building a retail platform that directly meets the needs of its partners and suppliers. Also working on a retail platform that really takes care of their partners and suppliers. Especially interested in Phuket, Thailand's top place for tourist income. They plan to open the second Robinson Lifestyle Shopping Center there on September 20, along with more shopping centers all over Thailand. With flexible management, smart cost control, and new business ideas, CRC aims to strengthen its position as a leader in the retail world.

Further Details: https://www.thansettakij.com/business/marketing/573506

Thonburi Healthcare Group Posts Strong 2023 Half-Year Results; Doubles Heart Patient Beds in Phuket and Sets Sights on Broader Market Expansion

Thonburi Healthcare Group Public Company Limited (THG), led by CEO Dr. Thanathip Suppradit, has reported a strong performance in the first half of 2023. With total revenue surpassing 5,023 million baht and a net profit of 402 million baht. Specifically in Phuket, THG's subsidiary "Thonburi Sermrat Company Limited'' manages the Phuket Provincial Administrative Hospital and has recently expanded the number of beds for heart patients more than doubled. THG is expanding and it's all part of a bigger plan. They want to reach different parts of the market including business-to-business (B2B), business-to-consumer (B2C), and business-to-government (B2G), and create services that really help their customers. By being smart with their money and investing in technology, and by working closely with network hospitals and startups. THG is setting itself up for more growth and success in healthcare. This is especially true in Phuket, where they're focusing a lot of their efforts.

Further Details: https://www.thansettakij.com/business/marketing/573426

Thai Vietjet's 'Garbage Hunter' Initiative Expands with First Scuba Project: Aiming to Remove 5 Tonnes of Waste Annually

Thai Vietjet expands its environmental initiative, "Garbage Hunter" program with the first-ever Garbage Hunter launch: Scuba Project at Samae San Island in Chon Buri on Monday. The Garbage Hunter team, typically founded in early 2022 aims to remove garbage from various locations in Thailand, raise environmental awareness, and reduce waste. Since its inception, Thai Vietjet hosted over 10 Garbage Hunter events across regions including Phuket, Chiang Rai, Chiang Mai, Krabi, and Udon Thani. The latest event is not just about cleaning up land—taking the trash out of beaches and oceans and keeping sea animals safe. The airline anticipates removing at least 5 tonnes of garbage annually through various environmental activities and collaborations. In the next stage, Thai Vietjet plans to extend participation to staff's friends and family, as well as the public and tourists in Thailand, reflecting its ongoing commitment to sustainability.

Further Details: https://www.bangkokpost.com/life/travel/2630995/thai-vietjet-expands-garbage-hunter-programme