Sisa Group announced that the Bank of Thailand has lifted the LTV restrictions, facilitating hotel projects in the form of Condotel, which positively impacts the overall market. They agree that the government's announcement to open the country is a step in the right direction, helping to circulate funds and boost GDP. They are moving forward with a 7-year roadmap focusing on real estate investments, including 6 projects. In 2022, they plan to launch the "Avatarn Theme Park Resort" in Layan Beach, Phuket, valued at 4.7 billion baht. Meanwhile, the "Natai Medical Center and Resort" is set to open its first Medical Service section: Life Clinic & Well-Being Resort by the end of 2021, with plans to bring the entire project into a REIT by 2028.

Mr. Arthanop Phanthukhanit, CEO of Sisa Group Co., Ltd., a leading investment property developer in Thailand, stated that the Bank of Thailand's announcement to temporarily lift the LTV regulations (allowing full collateral value loans) will benefit other hotel projects in the Condotel format, positively impacting customers and the real estate market overall, as consumers without cash for down payments will not need to pay large deposits.

Regarding the government's policy to open the country on November 1, 2021, allowing 46 countries and regions to enter Thailand without quarantine, this is seen as a way to bring foreign capital into the country through residency and investment, leading to increased cash flow and GDP growth. Importantly, it targets foreign nationals with skills in various professions that are still lacking in Thailand, which will enhance the country's potential and stimulate long-term economic growth.

“Even though there are still some infections today, the vaccination rollout has created herd immunity. The sooner we open the country, the better it will be. Recently, the government has allowed foreigners from 46 countries to enter, which indicates they are on the right track,” Mr. Arthanop said.

For the company's 7-year operational plan, it remains on track to develop 6 investment property projects. Currently, 2 projects have been developed, starting with the "Wyndham Grand Nai Harn Beach Phuket" Condotel project valued at 3.5 billion baht in 2018, and in 2020, the mega project "Natai Medical Center and Resort" was developed, which took over the hotel segment two years ago. Including the acquisition, renovation, and development costs, the total project value is approximately 10 billion baht, expected to be completed by 2026.

In 2022, there are plans to develop the "Avatarn Theme Park Resort" in Layan Beach, Phuket. It is noted that about 30% of visitors to Phuket are families, but there are not many amusement parks available. Therefore, they purchased approximately 16 rai of land to develop a mixed-use mega project, including a 4-star hotel and a children's amusement park, valued at 4.7 billion baht. Investors can become co-owners with a minimum investment of just 5.1 million baht, although further details cannot be disclosed at this time.

Additionally, in 2022, there are ideas to develop an Agriculture Farm project, currently in the process of land acquisition. In 2023, they are interested in entering the office building business in Bangkok, and in 2024, they plan to venture into international schools, but details cannot be disclosed yet.

Regarding the overall market for Medical Tourism, statistics from the healthcare industry show that the wellness tourism market is valued at $639 billion, or over 20 trillion baht, while the healthcare real estate market is valued at $134.3 billion, or over 4.4 trillion baht. Notably, the Asia-Pacific region holds a market share of $46.8 billion, or over 1.6 trillion baht, while the global healthcare market was valued at over $4.75 trillion in 2020, or over 157 trillion baht.

The "Natai Medical Center and Resort" is located on approximately 72 rai of land, and the company plans to develop it into a Medical Hub in the future. If supported by the government or with partners joining in, it could expedite the establishment of the Medical Hub. The company is open to partnerships and investments, and previously partnered with medical groups, believing that interest from investors in this mega project will increase.

By the end of this year, the company plans to open the first Medical Service section: Life Clinic & Well-Being Resort, a premium health rehabilitation center alongside a luxurious 6-star resort comprising 12 units, each uniquely designed by renowned architects. It will feature a farm-to-table and sea-to-table dining concept with Michelin-star chefs and international health integration chefs. The premium health rehabilitation center will offer in-depth diagnostics to design personalized treatment programs, preventive medicine, and a holistic approach to health promotion.

For the next two sections, they expect to gradually open services in subsequent phases, including:
– A Medical Center offering surgical services and diagnostics with the latest technology, focusing on holistic recovery, anti-aging medicine, IVF services, cannabis therapy, and health care for the post-COVID-19 era.

– A Resort that will upgrade and expand the existing resort to a 5-star hotel on Natai Beach, with a total of 177 units, including rooms and pool villas, along with various activities such as beach yoga, spa services, gym facilities, kayaking, and six dining styles including Thai, seafood, Asian, and Western cuisines, ready to provide tourists with a memorable experience. There are also plans to expand the hotel to become a MICE hotel for hosting large seminars.

Currently, the minimum investment for one unit is 6 million baht, with plans to bring the project into a Real Estate Investment Trust (REIT) by 2028, expecting the entire project to be completed by 2026.

“Currently, land prices in the Natai area, Kok Kloi, Takua Thung, Phang Nga, have skyrocketed to about 40-50 million baht per rai, driven by demand and supply. In the past, many Thai and foreign operators have entered the market to develop projects, with some purchasing land but waiting for the right moment to develop. However, during the COVID-19 pandemic, land transactions in this area decreased, but prices did not drop,” Mr. Arthanop concluded.