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Thailand Tycoon's Property Unit Plots $3.1 Billion Reopening Bet

Thailand Tycoon's Property Unit Plots $3.1 Billion Reopening Bet
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Editor's Sidelines, July 2021: Playing The Long Game


Editor’s Sidelines, July 2021: Playing The Long Game
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This story appears in the July 31, 2021 issue of Forbes Asia. Subscribe to Forbes Asia
Here we are, more than halfway through 2021, and an end to the pandemic remains elusive. Thankfully, some countries can now focus on vaccination rates and reaching herd immunity, but in others there are fresh outbreaks. For all the enormous progress, the world is far from out of the woods. New waves include those of the Delta variant, which is more virulent and contagious. 
Columnist Rich Karlgaard posits a world in which we will see a “roaring” 2020s, a global boom that will follow the conclusion of this pandemic, mimicking what happened in the 1920s after the end of the Spanish Flu pandemic. Yet it’s unclear how much darkness remains before that dawn. Patience appears to be gaining ground as a necessary trait in today’s world. ....

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Thai Real Estate Giant Bets Big On Tourism Rebound With $3.2 Billion Growth Plan


Thai Real Estate Giant Bets Big On Tourism Rebound With $3.2 Billion Growth Plan
Courtesy of Asset World Corp.
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This story appears in the July 31, 2021 issue of Forbes Asia. Subscribe to Forbes Asia
Flush with cash from one of Thailand’s biggest IPOs, Asset World Corp. CEO Wallapa Traisorat is building new hotels and refurbishing tourist landmarks in hopes of a post-pandemic boom.
With Covid-19 still keeping foreign tourists away from Thailand’s pristine beaches and bustling cities, leaving more than 80% of hotel rooms unoccupied, one would expect the CEO of one of the country’s largest developers of hospitality, retail and office properties to hunker down. Instead, Wallapa Traisorat, CEO of Asset World Corp. (AWC), has mapped out a 100 billion baht ($3.2 billion) five-year growth plan to position her company for a post-pandemic tourism boom. “It’s a short-term impact that we are facing right now,” she says. � ....

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