Trump to Invest in Thailand
Sept. 12, 2008
Donald Trump is likely to join forces with Gaysorn Group to invest in a major mixed-use project located in central Bangkok, according to recent reports in the international press.
Gaysorn Land Asset Management Co Ltd, a joint venture between Gaysorn Group and Hong Kong Land, acquired the site earlier this year from Phahonyothin Group on a 30-year leasehold.
The company plans to develop a luxury shopping mall along with 178 condo-hotel units and 30 high-end residence units with 30 year leasehold contracts. The condo hotel units and residences could bear the Trump name.
In July 2008, Trump´s oldest son Donald Trump Jr., executive vice-president of the Trump Organization, revealed that the company was exploring development opportunities in Bangkok, saying Asia will “provide strong opportunities for growth in the future.”
The portfolio of the Trump Organization, renowned as an international developer of upscale properties, includes office buildings, hotels, condominiums, condo hotels, casinos, golf courses and country clubs, mainly in major cities in the U.S.
It is also developing Trump International Hotel & Tower at The Palm Jumeirah in Dubai. The mixed-use project with Gaysorn would be his first development in Thailand.