Thursday September 13, 2007
KANANA KATHARANGSIPORN
Bangkok Post
Vilailuck International Holding plans to invest more in Siem Reap's property and construction sector after spending 1.2 billion baht to develop the Angkor National Museum, which will open in November, says managing director Watchai Vilailuck. The group will pave the way for Ascon Construction, a listed construction firm in which it holds a 23.85% stake, to propose construction projects in Cambodia. Recently, Ascon won a one-billion-baht contract to build a road.
''We have invested a lot in Cambodia since 2000, starting with the telecommunication business. Now we're interested in the hotel business and food and beverage business,'' says Mr Watchai, whose family also controls the SET-listed telecom equipment company Samart Corp.
The group plans to develop a five-star hotel and serviced apartments on a 15-rai site near the Angkor National Museum, which it started developing in the past three years and will operate for 33 years under a concession.
The museum, which will be the largest in Southeast Asia, is located on a 15-rai site in Siem Reap, about five kilometres from the world-renowed temple complex Angkor Wat. The company also has a Cultural Mall comprising a restaurant, souvenir shops and a bank. The entrance fee will be US$12.
He says the plots are leased for 70 years from the Cambodian government. It expects the museum to break even within six years. The group also also has a land plot on the bank of the Mekong River in Phnom Penh but has no development plans yet.
To date, the group has invested 5.8 billion baht. Besides the museum, the company has invested in the two-billion-baht Software Park office building in Bangkok, residential projects in Greater Bangkok worth 650 million baht and a resort development in Rayong worth two billion baht.
Subsidiary Vilailux Development plans to launch sales of Phuphatara in mid-October. It will be located on a 58-rai plot in Rayong, comprising 199 low-rise condominium units priced from 3.8 million to 10 million baht, 34 villas priced at 15-45 million baht and a five-star hotel with 200 rooms.
The group expects property revenue to comprise 20-30% of annual income.
''We have invested a lot in Cambodia since 2000, starting with the telecommunication business. Now we're interested in the hotel business and food and beverage business,'' says Mr Watchai, whose family also controls the SET-listed telecom equipment company Samart Corp.
The group plans to develop a five-star hotel and serviced apartments on a 15-rai site near the Angkor National Museum, which it started developing in the past three years and will operate for 33 years under a concession.
The museum, which will be the largest in Southeast Asia, is located on a 15-rai site in Siem Reap, about five kilometres from the world-renowed temple complex Angkor Wat. The company also has a Cultural Mall comprising a restaurant, souvenir shops and a bank. The entrance fee will be US$12.
He says the plots are leased for 70 years from the Cambodian government. It expects the museum to break even within six years. The group also also has a land plot on the bank of the Mekong River in Phnom Penh but has no development plans yet.
To date, the group has invested 5.8 billion baht. Besides the museum, the company has invested in the two-billion-baht Software Park office building in Bangkok, residential projects in Greater Bangkok worth 650 million baht and a resort development in Rayong worth two billion baht.
Subsidiary Vilailux Development plans to launch sales of Phuphatara in mid-October. It will be located on a 58-rai plot in Rayong, comprising 199 low-rise condominium units priced from 3.8 million to 10 million baht, 34 villas priced at 15-45 million baht and a five-star hotel with 200 rooms.
The group expects property revenue to comprise 20-30% of annual income.
5 comments:
I thought Angkor National Museum is purely spent by the government. I never see the style of the building. Maybe it is in thai style.
Angkor National Museum project has been initiated from the granted contract to “Build, Cooperate and Transfer (BCT)” between The Ministry of Culture and Fine Arts and Apsara Authority (MCFA & APSARA), on behalf of the Royal Government of Cambodia and Thai professionals represented by Vilailuck International Holding Co., Ltd. (VIH), assignor to The Museum Co.,Ltd. for 30 years concession period.
http://www.angkornationalmuseum.com/images/html/home.html
Change the name to this ugly building. It must not be Angkor...
Angkor doesn't look this fucking terrible.
I really don't know what Thai brain made up from. What design is that?
The Thaicong architecture style is tasteless and cheap to built for quick profit! I never thought that AH HUN SEN would allow the Thaicong to build their ugly looking barn to attract tourists!
AH HUN SEN has too much salt in his brain!
It was a incompetent decision for the Cambodian government to lease such important institution to the Thai company. It is clearly a lack of thought and understanding the meaning of national museum in the location such as Angkor. The building is ugly; it doesn't look Khmer's.
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