VCI Global's Real Estate Arm Acquires Impiana Private Villas Kata Noi In Phuket, Thailand; No Terms Disclosed
Portfolio Pulse from Benzinga Newsdesk
VCI Global Limited (NASDAQ:VCIG) through its subsidiary V Capital Real Estate Sdn Bhd, has acquired leasing rights for land and Impiana Private Villas Kata Noi in Phuket, Thailand. The acquisition includes 11 villas with potential for future expansion. Thailand's economic growth is expected to rise, with tourism playing a significant role. The country's hospitality industry is projected to reach USD$19 billion by 2028, and VCI Global views this as a strategic investment in line with their Southeast Asia hospitality sector expansion strategy.
January 24, 2024 | 1:04 pm
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VCI Global Limited has expanded its real estate portfolio by acquiring leasing rights for Impiana Private Villas Kata Noi in Phuket, Thailand, indicating a strategic move into the Southeast Asia hospitality market.
The acquisition of Impiana Private Villas Kata Noi by VCI Global is likely to be viewed positively by investors as it aligns with the company's strategy to expand in the Southeast Asia hospitality sector. The positive economic outlook for Thailand's tourism and hospitality industries suggests potential for revenue growth, which could positively impact VCIG's stock price in the short term.
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