Raimon Land will continue to focus on premium freehold locations, quality and a targeted approach as part of its strategy moving forward. The developer will only build new projects in Bangkok’s central business district as it looks for consumers to think of it as a high-end brand.
“We’d like people to see our brand in the same light as Gucci. Our prime focus is the quality of our products, something customers are willing to pay for,” says Raimon Land Chief Executive Adrian Lee to the Bangkok Post.
Raimon Land only plans to launch 2 to 3 new condo projects annually, all of these coming in the luxury segment, even as the economic situation in Thailand continues to improve and its competitors launch more developments. The company has set aside an estimated THB2 billion to acquire new land plots each year and also has an annual capital expenditure worth THB1 billion.
“Despite the continuous increase in overall land prices and intensifying competition in luxury developments, we are still upbeat that the prospects of Thailand’s high-end condo projects remain promising, dependent on appropriate locations and the project quality,” says Lee.
The company will build high-end serviced apartments and branded residences with a local partner that has a well-known name. In addition to this, Raimon Land is also looking for partnerships with potential foreign investors. The company is holding discussions with companies from Japan and Europe about developing high-end real estate projects in Thailand.
“We’re talking with prospective partners from Japan and Europe. But our focus is not so much about money, but the quality of our partners. Raimon Land has been laying the foundation for a steady diversification strategy over the past 2 years, while staying invested in our core business. The Lofts Silom that was launched last year, has been one our greatest successes. To date we are about 80 per cent sold,” says Lee.
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