Resort and real estate development firm Veranda Resort Plc plans to launch a branded residential project in 2021 worth 1 billion baht in Phuket and introduce a co-investment renovation model aimed at struggling owners.
Founder and chief executive Verawat Ongvasith said the Phuket project is in the design stage with an environmental impact assessment report slated for submission by the end of the first quarter next year.
“We expect to start construction by the third quarter of 2021, then we will wait for a recovery in the tourism market before launching residential units for sale,” he said. “The Phuket tourism sector is likely to bounce back in the second half next year.”
The…
