Property

Coronavirus jitters: Gotianuns ditch plan to buy out Thai luxury resort

The Gotianuns have backed out of a Thai luxury resort project just seven months after inking a buyout deal.

Filinvest Development Corp. said it has decided to “terminate” the share purchase agreement to buy 100 percent of Choengmon Real Estate Company Limited which it signed in December 2019.

Choengmun is currently building a five star resort in Thailand which was supposed to be the Gotianuns first foray into the international property market.

The family planned to develop it under its Crimson resort brand which has branches in Alabang, Cebu and Boracay.

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