Infinity Real Estate Holdings Co. Ltd (IREH) today announced that it has inked a binding MOU with Blue Sky Properties on the 1st of September 2023 for the purchase of a 557 sq.wah beachfront prime plot of land in Na Jomtien 18 Pattaya. The Group has plans to develop this into a 8 stories 175 rooms luxury beachfront hotel with the planning process to begin immediately. This development is estimated to be completed by December 2025. This project will be helmed by Soda and Pure Interior which have completed numerous luxury hotel projects across Thailand .

Separately the Group has also announced that it has entered into a binding LOI for the acquisition of PCM Management Associates Co. Ltd. PCM is a construction project management and quantity surveying company established in Thailand since 2017 and has completed notable commercial projects in Bangkok and Pattaya such as The Rugby School of Thailand Phases I-III and also Southpoint – a 600 unit condominium development located in Pratumnak Pattaya.

 

This acquisition forms part of IREH’s vertical integration strategy to shore up its core competencies. This will result in increased control over its development projects as well as reduce overall costs thus improving and safeguarding interests for all its stakeholders.

 

Jeffrey Tay  COO for IREH commented, “This acquisition marks a strategic move by the Group and shows it’s seriousness in developing world class luxury projects overlooking the Gulf of Thailand. This also signals the Group’s confidence in Thailand’s economy on the whole