The New Nordic Group Invests US$4,489,810 into the Auran Group's Marcus Hotel Project
Jun 7, 2018
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BANGKOK, June 7, 2018 /PRNewswire/ -- The Hong Kong based New Nordic Group are pleased to announce their significant financial investment into the development of a luxury hotel project located in Pratumnak Hill, Pattaya, Thailand, which is to be managed by Best Western Hotels & Resorts®. This investment represents a tremendous display of confidence by the New Nordic Group in this new and exciting project.
The 152-room, 4*+ hotel is set to be completed in October 2020 and is being developed by the Auran Group which is a wholly owned investment, development and marketing subsidiary of the New Nordic Group. The entire development will be isolated within the 'Auran Marcus Hotel LLC' which has been formed with the sole purpose of safeguarding investor funds throughout the entire life of the project. The Auran Group will finance and develop the hotel as key-holder, as it plans to do throughout a range of funding activities that it will undertake in the near future.
The New Nordic Group continues to operate successfully in the development of numerous condominium projects throughout the ASEAN region, and founder, chairman and CEO of the group Mr Kurt Svendheim states that, ´The New Nordic Group remains a forward-looking company, and in that vein, we will continue in our efforts to identify profitable opportunities for the company and its investors.´
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