B2bn boost for Blue Canyon Country Club
MAI KHAO: Even the deafening barrage of fireworks, set to the strains of Tchaikovsky’s 1812 Overture to mark Blue Canyon Country Club’s (BCCC) 15th anniversary on Wednesday night, could not eclipse an announcement beforehand of a 2-billion-baht investment in the golf club.
The investment comes as part of a “strategic partnership” between RREEF Global Opportunities Fund II – an investment fund managed by Deutsche Bank’s DB Real Estate (DBRE) – and Murex, the club’s owner, which has struggled with debt for many years.
RREEF will become the largest shareholder in the club, giving Murex breathing space to transform the golf course and allowing it to provide, as a media release put it, “…new levels of exemplary service, contemporary decor and luxurious amenities”.
The refurbishment of BCCC’s accommodation will be aided by the expertise of hotelier Adrian Zecha, Chairman of General Hotel Management Ltd; Kerry Hill Architects (KHA); and Jaya Ibrahim & Associates (JIA) of Indonesia.
Mr Zecha, the motive force behind Aman Resorts, will “conceptualize” the villas around the Canyon Course, which will be designed by KHA. The villas will be sold by invitation only.
JIA will take responsibility for redesigning the interior of the clubhouse and the Golfer’s Spa Lodge. The group will also oversee the upgrading of the residential apartments, including the exterior and landscaping of the common areas.
KHA and JIA will lead the design and oversee construction of a new “Country Clubhouse”, which will boast sporting, dining and leisure facilities.
“Blue Canyon Country Club is all about building a legend of golfing excellence and creating a lifestyle and community around golf, nature and space,” said Sia Leng Yuen, Chairman and CEO of BCCC.
“We are pleased and honored that DB Real Estate, one of the world’s largest real estate owners and managers, has joined us in the pursuit of quality and perfection, which will lead to a range of mutually beneficial achievements for both companies,” he added.
Morgan A Laughlin, Managing Director of DBRE-Asia said, “We are extremely pleased to have completed this investment by RREEF Global Opportunities Fund II.
“Funds managed by DBRE have a long history of successful investment in the hospitality sector globally and we have been investing in the Thai resort sector since 2000.
“We recognize that Blue Canyon Country Club offers an outstanding golf experience and we are strong believers in its potential to become one of the premier integrated resort communities in Asia.”
DBRE is already a co-investor in the Evason Phuket and the Evason Hua Hin.
