• 
• 

Published on December 28, 2007

Olarn Assawarithikul has so much land that people regard him as a land collector.

Most of the land is being used by his companies, the Olarn Group and T Paradise, which manage three major tourism and recreation properties: Thailand's first boat-like hotel, called Koh Chang Grand Lagoona, the huge Kaeng Krachan Country Club and Resort in Phetchaburi province, which occupies 35,000 rai, and Bang Pakong Riverside Country Club, which covers 3,000 rai.

Olarn has developed the three properties over 27 years. He now expects to bring them together for promotion as the Three Paradises of Global City. He will then apply the concept to the development of other tracts of land he owns, ranging in size from 1,000 to 10,000 rai.

He dreams of building his businesses, but at 67 years of age, he accepts that he can't take anything with him when he dies, and believes that only his goodness or badness will remain. He is keen, therefore, to see Thais helping one another to succeed.

With this philosophy in mind, he recently sold 2,000 rai of land at his Kaeng Krachan Country Club and Resort to film-maker and director Thoranong Srichuea for Bt2 billion. Thoranong, who is also managing director of radio and television production house Twentieth June Entertainment, plans to build a movie studio on the land. He says it's difficult these days to find a large tract of land selling for only Bt1 million per rai.

To Olarn, the sale means not only that he can help Thoranong to achieve his dream, but he can also give a significant boost to the tourism industry.

Thoranong plans an integrated studio complex to be called Entertainment Complex Thoranong Studio, which will cost a further Bt3 billion to construct.

"I sold the land to Thoranong because he is Thai, like me," Olarn says. "If we don't help people with the same nationality, or if we don't give them opportunities, then never expect people of other nationalities to help you."

He said he sold to Thoranong despite an approach by international investors who also wanted to build a movie studio and who were willing to pay more for the land.

Development of Thoranong's large studio will be divided into three phases over three years. In addition to offering the studios for hire by movie producers from around the world, Thoranong is planning to offer houses worth Bt20 million - title deeds included - to Hollywood stars, free of charge.

With such an extraordinary offer, Olarn is highly confident that the studio development will attract travellers from around the world to Thailand and to his Kaeng Krachan Country Club, eventually boosting the tourism industry.

"Investment here will be the same as that in Hollywood. The only difference is that this is the Hollywood of the East, and I want to be one of the people to show the Western world what the Eastern world has. Asian trends have already influenced Western movies at a certain level," Olarn says.

His ultimate goal is to have his name entered into history books, along with those who contribute to the development of his land.

Back in 1980, Olarn and his family visited the Kaeng Krachan National Park and by the time he left, he had fallen in love with the place. Although part of what would become his land was used for growing pineapples, it did little to deter his attraction to the landscape of mountains and valleys in Phetchaburi province.

"I was ready to buy 10,000 rai from anyone who would sell it to me," Olarn recalls. "A year later, a friend, Phanij Samphawakupt, who was a former member of parliament for Phetchaburi province, introduced me to 10,000 rai of land. I gradually collected more until after eight years I owned 35,000 rai. The average price was Bt30,000 per rai."

He says all the land was legally acquired with financial support from friends and "senior people" in exchange for stakes in the venture. Already, he has developed three golf courses at a cost of more than Bt5 billion, covering 5,000 to 6,000 rai. The country club and resort also sells residential plots, and buyers of land enjoy a lifetime of free golf.

Two of the three courses were designed by the biggest names in the business: Jack Nicklaus and Greg Norman. The third was the work of Thai golf course designer Cherd Boonyaratawech, a former director of the State Railway of Thailand. Decha Boonkham, professor emeritus of landscape architecture, helped to design the landscape.

Kaeng Krachan Country Club also has residential houses, a resort and a hotel. Combined with revenue from selling pieces of the country club's land, ranging in size from 400 square metres to 2 rai, the Olarn Group records more than Bt1 billion in revenue per year.

Part of the country club's land is also set aside for retired foreigners. Targeted foreign customers are from Australia, the UK, Denmark, Germany, Japan and South Korea.

Apart from having the golf courses, the resort, short-term and long-term residences, meeting facilities and entertainment activities, Kaeng Krachan Country Club also has a large area committed to agriculture.

In the 1997 economic crisis, Olarn suddenly found he was billions of baht in debt. However, he gradually solved all those problems to become debt-free.

His new project - the Three Paradises of Global City - brings Kaeng Krachan Country Club together with Koh Chang Grand Lagoona and Bang Pakong Riverside Country Club. Wealthy travellers can cruise between the three locations in private jets accommodating up to 10 passengers.

The 3,000-rai Bang Pakong project has a 600-rai golf course and a five-star hotel with 120 rooms. It targets foreign travellers and also offers land for sale for residences. The golf course - the first on a riverbank in Thailand - was designed by Cherd Boonyaratawech. It won an Asia Popular Award in 1991.

"After Suvarnabhumi Airport was opened, Bang Pakong Country Club became the centre for our hotels, golf courses and resorts," Olarn said.

All three properties have integrated facilities including hotels, residences and golf courses. Olarn believes golf courses are a great magnet to attract business people and travellers. However, they must be of world standard to help Thailand to become a world-class golf destination.

He says most visitors to his properties come from Japan, Switzerland, Canada, Germany, the UK, South Korea and Australia, as well as other cold-weather countries. Most want to stay away from winter in their countries for a long period. Many of them are retired.

The Kaeng Krachan Country Club is presently host to about 200 guests each day, while Koh Chang Grand Lagoona enjoys an 80-per-cent occupancy rate.

Property reporters

 The Nation