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Posted: 03 May 2012 | 6:00 am
Thai listed group MBK are unsure about developing a prime 18 rai oceanview site in Pattaya according to comments made to the Bangkok Post by a company executive.
Currently the Montien hotel occupies the site but it's lease will expire early next year.
MBK is viewing the option of either development a large-scale hotel and condominium project or else selling the land parcel in the leading resort destination.
Recently the group co-invested into a Maldives resort with Dusit Thani.
The company expects revenue from a land sale would bring in over THB1 billion which equates to approximately THB55 million per rai.
In Koh Samui MBK also have a large underdeveloped resort plot in the Choeng Mon area.
A column featuring environmental issues and conservation around the island. Click here for more Green Reports check out the latest story from the leading experts:
A recent Channel News Asia television segment Boomtown Asia checked into the island's environmental, and sustainable tourism sectors.
The innovative Evening Breeze environmental cooling system is gaining global attention in the resort markets and villas.
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