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Bangkok Post
Bangkok Post
Business

Tycoon’s property unit to boost spending on tourism boom

Wallapa Traisorat Charoen Sirivadhanabhakdi Thailand
Asset World Corporation CEO Wallapa Traisorat says the new government is expected to focus on tourism stimulation. (Photo: Asset World Corporation)

The property and hotel development unit of Thailand’s richest man plans to more than double spending for acquisitions and development of hotel resorts and commercial properties this year as tourism booms.

Asset World Corporation plan investments of more than 20 billion baht (US$590 million) in 2023 from about 10 billion baht last year, according to Chief Executive Officer Wallapa Traisorat. Its main projects include its tourist-focused complex in Bangkok and new hotels in key destinations such as Pattaya and Phuket, she said.

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