Royal Phuket Marina goes on the market

[webfact]

Royal Phuket Marina goes on the market
Phuket Gazette


RPM Chairman Gulu Lalvani announced this morning that the development is up for sale. Photo: Gazette file
Aerial view of RPM. Photo: Gazette file

PHUKET: -- Royal Phuket Marina (RPM), one of Phuket’s largest marina and lifestyle developments, is up for sale, the company announced this morning.

Following serious interest from an international buyer, RPM Chairman Gulu Lalvani has decided to officially put the development on the market, the company announced. As exclusive adviser to the proposed sale, JLL Hotels & Hospitality Group will handle the sale through an ‘expression of interest’ campaign closing September this year.

“Royal Phuket Marina is my passion and since opening over 10 years ago I have worked tirelessly to promote yachting in Thailand and make it a leading waterfront destination in the region. With still so much untapped potential, I am keen to find a buyer who can take RPM to the next level and realize my dream of making this property a world-class integrated lifestyle destination,” said Mr Lalvani.

The announcement follows on the heels of a Department of Special Investigations (DSI) inspection of RPM at the end of May for alleged mangrove encroachment.

“At this stage, based on our aerial photography, I am standing right in the mangrove forest, according to our map and aerial information,” said DSI team leader Sakda Wichiansin while inspecting the land at the RPM.

Full story: http://www.phuketgazette.net/phuket-news/Royal-Phuket-Marina-goes-the-market/64179?desktopversion#ad-image-0

-- Phuket Gazette 2016-07-07

[LivinginKata]

DSI inspection - time to sell ....

[steelepulse]

Well you'd think any buyer would do some serious due diligence and run away from this.

[dageurreotype]

a world-class integrated lifestyle destination

Along with the island's world class integrated infrastructure? Don't make me laugh.

[dageurreotype]

Well you'd think any buyer would do some serious due diligence and run away from this.

You'd think so, but lot more morons with more money than sense where this guy comes from.

[clockman]

A sinking ship, maybe.?

[Ulic]

Well you'd think any buyer would do some serious due diligence and run away from this.

Yes....But the problem is all the paperwork may be in proper order. The correct officials

with the correct stamps may have been paid off years ago. Everyone retired or/and dead.

Always a roll of the dice here. One thing is for sure you can do your due diligence, agree

on a figure, but you would be crazy to transfer any monies until this DSI investigation

has been concluded and everything is found to be in proper order.

[williamgeorgeallen]

untapped potential to become a mangrove swamp again.

[Destiny1990]

Gulu should first settle his pending courtcases that the Marina residents started up against him!!!

[steelepulse]

Well you'd think any buyer would do some serious due diligence and run away from this.

Yes....But the problem is all the paperwork may be in proper order. The correct officials

with the correct stamps may have been paid off years ago. Everyone retired or/and dead.

Always a roll of the dice here. One thing is for sure you can do your due diligence, agree

on a figure, but you would be crazy to transfer any monies until this DSI investigation

has been concluded and everything is found to be in proper order.

The DSI investigation is the due diligence I was referring to. If I was a potential buyer, I would wait until the case is settled. I can't see rows of astute investors lining up to buy in what looks like some sketchy land.

[shirtless]

Sounds like a great investment , if you want to loose your shirt.

[NamKangMan]

"Royal Phuket Marina goes on the market" - which is where it will stay, for years, like most of the property for sale here now.

Edited July 7, 2016 by NamKangMan

[JHolmesJr]

This place was just beautiful when I visited…but that was a long time ago.

Is it the one with the private beach and the hotel that has sloping terraces?

[natway09]

Give me an hour ,, I will give Donald t a call

[Destiny1990]

This place was just beautiful when I visitedbut that was a long time ago.

Is it the one with the private beach and the hotel that has sloping terraces?

Well he did promise in his printed brochures about private beach clubs and 5 star hotels and top notch retail and much more stuff but that was only to jack up the condo sales prices so now these residents joint a group and are suing him.Selling that marina sounds like a piece of cake afterall still some months left till September..

[NamKangMan]

This place was just beautiful when I visitedbut that was a long time ago.

Is it the one with the private beach and the hotel that has sloping terraces?

Well he did promise in his printed brochures about private beach clubs and 5 star hotels and top notch retail and much more stuff but that was only to jack up the condo sales prices so now these residents joint a group and are suing him.Selling that marina sounds like a piece of cake afterall still some months left till September..

Did he also "promise" the land was procured legitimately?

[gandalf12]

For all the potential he says it has and how basically it is going to make a fortune, why is he selling it? He looks Indian and the Indians never sell anything unless they know it is not making the money needed

[LivinginKata]

This place was just beautiful when I visitedbut that was a long time ago.

Is it the one with the private beach and the hotel that has sloping terraces?

Think you are talking about the Royal Phuket Yacht Club at Naiharn. Now rebranded as The Nai Harn by new owners.

Edited July 7, 2016 by LivinginKata

[chicowoodduck]

Oh my Buddha, what next? The Brooklyn bridge?????

[Psimbo]

Well you'd think any buyer would do some serious due diligence and run away from this.

Why- Phuket is a top class investment opportunity with huge returns according to some on these pages!

[NamKangMan]

Well you'd think any buyer would do some serious due diligence and run away from this.

Why- Phuket is a top class investment opportunity with huge returns according to some on these pages!

And low risk, as well.

[JHolmesJr]

This place was just beautiful when I visitedbut that was a long time ago.

Is it the one with the private beach and the hotel that has sloping terraces?

Think you are talking about the Royal Phuket Yacht Club at Naiharn. Now rebranded as The Nai Harn by new owners.

Yes thats the one i was at...thanks.