Golden Land has agreed to a partnership with Singapore-based Frasers Property to utilise innovations, international development, and international standards for its projects in Thailand, reports local media. The deal is part of Golden Land’s plan to become one of the biggest real estate companies in Thailand by 2020.
“Urban and real estate development in Singapore are globally recognised, specifically commercial developments in the heart of the city. Due to the exorbitant land price, the developers have to maximise land use, which has led to the creation of many interesting innovations in the real restate industry. We believe that we can apply those innovations to our project development in Bangkok with an annual average land price growth of around 10-15 percent,” says Golden Land President Thanapol Sirithanachai.
The company will look to Frasers Property to add value to its business plan by combining its expertise and management knowledge about developing real estate in Thailand with the international development, investment, and management experience from its Singaporean partner. The agreement is expected to grow in the years to come with co-investment and co-development seen as possibilities moving forward.
Golden Land will focus its efforts on developing low-rise real estate projects such as single houses that have units priced from THB7 million to THB10 million, semi-detached houses costing THB4 million to THB7 million, and townhomes featuring units prices at THB2 million to THB4 million. In addition to the new launches, the company’s Samyan Mitrtown project should reach 60 percent completion during 2018.
“Thailand’s real estate market is still growing, especially middle class low-rise residential developments. We have strengthened our collaboration with Frasers Property Limited, a multi-national company that owns, develops and manages a diverse, integrated portfolio of properties, to expand its knowledge in retail business to an international level,” says Thanapol.
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