Dusit Thani diversifies to ritzy residential projectsDusit Thani Plc is set to be a diversified business company with more investments in upscale residential projects in addition to hospitality services. The focus is on diversification after the closure of the Dusit Thani Bangkok hotel earlier this year to develop the site as a mixed-use project, Dusit Central Park. Suphajee Suthumpun, group chief executive of Dusit International, said Dusit Parkside and Dusit Residences are residential projects in the mixed-use development it jointly invested in with Central Group at a cost of 36.7 billion baht. Last month, Dusit Thani entered into a joint venture with Origin Property Plc to develop the Hampton Sriracha by Origin and Dusit, a condominium in Chon Buri province, to tap the Eastern Economic Corridor scheme. Dusit Thani, a SET-listed firm, reported 2.69 billion baht in revenue for the first half this year, down 4.5% year-on-year.

Source: Bangkok Post October 08, 2019 21:45 UTC