LH Bank extends B1.8 billion loan for EQ Phuket luxury resort

LH Bank has extended a B1.8 billion loan to ONYX Hospitality Group to develop the EQ Phuket luxury resort project, the bank said on May 11. The financing backs a new high-end hotel development in Phuket as ONYX expands its resort portfolio in the province.

Project tied to ONYX expansion and 2028 opening

LH Bank President and CEO Qi Qing-Fu said the bank approved the B1.8 billion facility for ONYX Hospitality Group, which operates hotels, resorts and serviced apartments across Southeast Asia.

ONYX CEO Yuthachai Charanachitta said EQ Phuket marks a strategic step in the group’s luxury resort expansion strategy. He said the company sees clear long-term potential in Phuket’s market with support from LH Bank.

Equatorial Group CEO Donald Lim said the project is on a high-potential site in the province. He said Phuket remains a global destination for travelers and cited strong market fundamentals and growth potential.

The developers expect EQ Phuket to open in the second quarter of 2028. They said the project is designed to deliver a differentiated guest experience and market position in the luxury resort segment.

Source: https://www.thansettakij.com/social-biz/658746