News Column

Scenical prepares B6.4bn investment

June 13, 2014

By Pitsinee Jitpleecheep, Bangkok Post, Thailand

June 13--Scenical Development Group, operator of the Greenery Resort Khao Yai, will spend 6.4 billion baht to develop two mixed-used properties and a hotel and condominium project in Khao Yai and Pattaya over the next two years.

Of the total, about 2 billion baht will be spent on developing the 72-rai Scenical World, a new lifestyle and tourist destination on Thanarat Road near Khao Yai National Park, which will comprise a shopping plaza (Greenery Park Mall), a water park (Splash World) and an amusement park (Life Park).

The developer is now working on construction plans for this mixed-use project.

Another 1.4 billion baht will be used to develop a four-star hotel with 250 rooms together with a resort condominium located near the Greenery Resort Khao Yai in the next two months.

This hotel-cum-condominium project will be finished late next year.

Next year, some 3 billion baht is set to develop a mixed-use complex in the Wong Ammat area of Pattaya.

The Greenery Park Mall will cover 9,612 square metres with a Midwestern theme to keep up with the influx of visitors, both Thais and foreigners, visiting Khao Yai, reaching 5 million last year. The number of visitors keeps growing every year.

The shopping plaza, which will house 88 popular names in the fashion industry and well-known restaurants as well as souvenir shops, is scheduled to open this year.

The company expects to welcome 2 million visitors at its Scenical World project its first year of operation.

The project is projected to break even in three years.

Visitors will be charged 800 to 1,000 baht for all amusement rides, plus an entrance fee for the water park and facilities.

"With these attractions, the goal is to get visitors to extend their stay in Khao Yai," said managing director Thawsirit Sivakorn.

Khao Yai is increasingly popular as both a holiday destination and location for second homes.

Only a two-hour drive from Bangkok, it offers natural attractions, clean air and an array of restaurants, resorts and activities for visitors.

The number of residential estates there has skyrocketed.

There are over 3,000 condo units on offer in Khao Yai and nearly 13,000 hotel rooms, so the company is optimistic about its project.

"I'm confident Khao Yai will reach a new peak for visitors in the near future and that it will become the new must-visit destination for Thai tourists," said Mr Thawsirit.

The mixed-use project in Pattaya will be on 80 rai near Wong Ammat, comprising a four-star hotel, a 400-room condo, a retail zone and a water park.

"We're interested in Pattaya because it hosts up to 11 million tourists per year. Though the tourism and property market there is very fierce, people are open-minded about new services," Mr Thawsirit said.

Sales of Scenical Development are expected total 1 billion baht this year.

Scenical Development's Greenery Resort Khao Yai, located near Scenical World, has an occupancy rate of 60% that is expected reach 80% next year.


(c)2014 the Bangkok Post (Bangkok, Thailand)

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Source: Bangkok Post (Thailand)

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