Author : Shuchita Bist
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Northpoint Pattaya Residential Development, Thailand |
IFA Hotels & Resorts (IFA HR), leading real estate development specializing in premier integrated and mixed-use hotel and tourism resort projects, has acquired an additional 14.92% stake in Raimon Land, a Bangkok-based luxury condominium and real estate development company, increasing IFA HR's ownership in Raimon Land to 41.07%. Widely recognized as a premier international mixed-use developer, IFA HR initially entered Thailand during January 2007 as part of its global expansion plans.
Talal Jassim Al-Bahar, VC & CEO, IFA HR, said, "The increase in our shareholding in Raimon Land is a testament to our belief in the management, the company and the great value that Raimon Land adds to our portfolio. We will continue to support the company and benefit from its growth".
This transaction further enhances synergies between both companies. Through closer working relationships, both Raimon Land and IFA HR will be better able to utilize their existing international portfolio and network, giving their clients access to a more diverse product portfolio including residences, resorts, private residence clubs and lifestyle experiences around the world. IFA HR recently expanded its Yacht Ownership Club by adding a homeport in Phuket, a value addition to Raimon Land's customers.
Source : Press Release
