Thai property developer Raimon Land is undergoing significant changes in the first half of this year.
Today the company announced the appointment of a new Chief Executive Officer Johnson Tan.
Tan takes over from Hubert Viriot who is returning to a post with IFA Hotels and Resorts in Dubai.
Earlier this year IFA disposed of a 24.97% stake Raimon Land to Singapore’s JS Oil Pte. Ltd.
JS is part of the Jit Sun Group. At the time of transaction the financial press reports that JS is planning to expand Raimon Land’s horizon to other markets in Asia and the US.
Industry experts are speculating the group may also shift towards hospitality assets.
During the mid 2000’s property boom Raimon had been as significant player in Phuket as they developed both Kata Heights and Kata Gardens. More recently the company has been focused on developments in Pattaya and Bangkok.