Investment
Bamrung AmnatcharoenritThe Nation
Hua Hin October 23, 2012 1:00 am
"It's the nature of women to like to collect properties," Suwat said.The vision will be led by the third and fourth generations of the family. Jaratpim, 80, had bought land in various areas for 50 years after the family's company won a concession from the government to build roads.
However, Suwat declined to reveal how many plots are owned by the family. Given higher competition and the hard work, 11 grandchildren from Jaratpim's five children will pitch in to maximise the value of the family's property holdings by further diversifying from its core business. The firm has already branched out into warehouse rental and bottled-water production.
Proudputh, 24, a daughter of Suwat, is one of the family members spearheading the group. She is the founder of Proud Group and has an ambitious plan to raise her company's image to a "national brand" like Sansiri in the real-estate industry.
The Oxford graduate moved into the hospitality industry three years ago with the launch of a Bt1-billion resort hotel in Hua Hin managed by InterContinental. She claims the 80-room hotel has been warmly welcomed and runs a 60-per-cent occupancy rate.
Last weekend, her company took another big step by entering a 50:50 joint venture with The Mall Group to construct Bluport Hua Hin Resort Mall, worth Bt5 billion excluding land.
A shopping mall and 200-room InterContinental Hotel will occupy the 25-rai (4-hectare) site. When it is completed in 2015, it is expected to help fulfil the resort city's dream of becoming an international tourist destination. Of its 140,000 square metres of space, 25,000sqm will be allocated equally to international retail shops, a department store and gourmet market, and a cinema complex and other uses.
Supaluck Umpujh, vice chairman of The Mall Group Co, said the retail space was almost fully booked on the day of the signing ceremony on Saturday, thanks to the booming economy in Hua Hin, which has become a popular haven for Bangkok residents after the metropolis was hit by the flood last year.
Beyond resorts and spas, Hua Hin is also famous for golf. It attracts more than 5 million visitors a year and accommodates more than 20,000 expatriates. Including neighbouring provinces, the area with more than 1.5 million local residents is ripe with business opportunities.
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