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Thai Developer Bets on Phuket Reopening for Return of Investors

Beaches in Phuket, Thailand.

Beaches in Phuket, Thailand.

Photographer: Taylor Weidman/Bloomberg

WHA Corp., Thailand’s largest industrial estate operator, expects land sales to rebound in the second half as it plans to use the limited reopening of the resort island of Phuket next month to bring in prospective foreign investors.

The company is in talks with clients for their entry into Thailand through Phuket as the nation’s borders have remained closed to most visitors since the pandemic began, according to David Nardone, group executive for WHA’s industrial-development unit. WHA’s sales have slumped as visitors have been unable to physically survey the commercial plots, he said.