Recently there have been two significant real estate transactions here on the North Shore of Kauai. The first by billionaire Thai-Chinese businessman Chanchai Ruayruang of Reignwood International, who according to Forbes has a net worth of $2 billion.
Reignwood International has reportedly purchased approximately 1,103 acres at the Princeville Resort, including the Prince Golf Course, for $343 million. The move now positions Reignwood International as The Resort Group’s new capital partner, replacing Morgan Stanley. There has also been recent news that Discovery Land Co., a privately-held, full service real estate development company specializing in luxury private communities, will be managing and overseeing the master development plan in Princeville.
The second of the two significant real estate transactions was by Facebook’s Founder and CEO, Mark Zuckerberg. Zuckerberg’s acquisition entails two large pieces of land located here on the north shore of Kauai, which combine for over 7oo acres purchased for over $100 million.
The first of the two new land holdings is Pila’a Beach, totaling 393 acres of which Zuckerberg was able to acquire 350 acres, for a reported $49.8 million from a Hawaii limited partnership owned by Jim Pflueger. The second is the Kahu’aina Plantation totaling 357 acres that Zuckerberg reportedly paid $66 million to the Falko Partners, owned by Larry Bowman.
Article by Christopher Ordonez R(B)
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