IFA Hotels and Resorts acquired another 14.92% share in Raimen Land, the luxury condominium and real estate company based in Bangkok. This increases IFA’s stake in Raimen Land to 41.07%. Vice Chairman and Chief-Executive Officer said their increased ownerships shows their belief in management of the company and value it provides. Talal Jassim Al Bahar said “we will continue to support the company and benefit from its growth.”
Mr. Bahar explained their strategy has been to focus on emerging markets and Asia is an important region. IFA, which is a leading mixed use developer, entered the Thailand market in January 2007 as part of its global expansion plans. President and CEO for IFA noted some other international companies have cut back on their planned projects, but Raiman Land Projects are on track.
