(From The Nation (Thailand))
Byline: The Nation.
MBK, operator of MBK Centre, will invest Bt5 billion to develop a new retail and real-estate complex in Pattaya on land where the 20-year-old Montien Hotel now stands.
Last March, the company inked a deal to buy the 18-rai plot of land in Pattaya. However, it can lay hands on the land only after the leasing contract between Montien and the landlord expires five years from now.
"We're drafting a plan to develop a new retail and real-estate complex in Pattaya, which will include a shopping complex, 500-room hotel and condominium," said Khemapat Nissaisorakarn, senior executive vice president …