Investment News
AIRA serves good news at the end of the year, preparing to launch an Upper Upscale hotel project worth 2,300 million baht.
AIRA is preparing to develop a 29-storey Upper Upscale hotel project worth 2.3 billion baht, targeting foreign tourists and businessmen. Jenwit Rungkijvorasathien, Chief Executive Officer of AIRA Property Public Company Limited, which operates a real estate development business under the AIRA Group (AIRA), revealed that “AIRA Property” has signed a land lease contract in a prime location in the heart of Bangkok, Silom area (next to the Silom Complex shopping mall and BTS Sala Daeng station). The company is preparing to develop the area in the form of a Green building project and is aware of ESG principles as a priority. This will be a 29-storey, 303-room Upper Upscale hotel with standard facilities and security systems, with a total project value of over 2.3 billion baht. The company is currently in the process of selecting leading hotel brands to manage the project to accommodate foreign tourists and businessmen. Silom in Thailand is a landmark for both Thai and foreign tourists, as Silom Road is the venue for many major events. Silom is also considered a business district with a tendency to continuously expand due to economic growth and is a center of business and commerce. and is the business center of Bangkok. The project area is conveniently accessible by rail transportation (BTS Saladaeng and MRT Silom) and other forms of transportation, making it convenient for tourists to travel and find their own accommodation. These factors have led the company to focus on developing it into a leading standard hotel and accommodation because the size of the hotel and rooms are suitable for tourists who need flexibility in traveling and are close to important business and tourist attractions in Bangkok. In terms of investment readiness, Mr. Jenwit added that with the already strong financial potential of the AIRA Group, the company has also received trust from financial institutions and is able to access leading sources of funding both domestically and internationally. For the implementation of this hotel project, the company has assigned Aspiration Two Co., Ltd. (ASP2), a subsidiary in which “AIRA Property” holds a 100% stake, to be the project operator. It is expected that soon the joint venture with interested partners will be concluded. “This hotel project is located in a super prime location in the heart of Silom, in front of BTS Saladaeng and is a connecting point to 2 main electric train lines, which meets the needs of the target customer group. Therefore, the company Therefore, we are very confident that the hotel project will be successful in every aspect, both in terms of the response from the target customers who will come to use the service and in terms of the potential to generate income, both directly and indirectly, for this hotel.