KAUAI, HI—More than 1,000 acres at the Princeville Resort in Hanalei, on the North Shore of Kauai has been sold for for $343 million, according to media reports.
The property, said to include Prince Golf Course, was acauired by Billionaire Thai-Chinese businessman Chanchai Ruayrungruang's Reignwood International, according to Pacific Business News, which attributed the information to the resort's master developer, the Resort Group.
The deal is said to among several anticipated major plays by Chinese investors in Hawaii.
Reignwood International, which has interests in consumer, lifestyle, industrial and financial products, will own and oversee the long-term development of Princeville Resort. A partnership has been formed between Resort Group owner Jeff Stone and Ruayrungruang, and the new entity will manage the long-term planning and development aspects of Princeville lands.
The report nates that the Reignwood Group, was formed in Thailand in 1984 by Ruayrungruang, who has a net worth of $2 billion.
Click Pacific Business News to read the full story.
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David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
