By Andrew Batt:
High-end property developer Raimon Land has announced plans for regional expansion following the acquisition of a 24.98 percent stake in the company my Singaporean entrepreneur Lionel Lee.
Lee heads Singapore-listed Ezra Holdings Limited, and his wholly-owned company JS Oil Pte. Ltd became the largest shareholder in the Stock Exchange of Thailand listed developer in a THB 2.14 billion share purchase deal.
Lee is well known for the development of Singaporean offshore oil and gas services company, Ezra Holdings Limited. Over the past decade he has grown Ezra and other SMEs into world class, global players with listings in Singapore, Norway and Malaysia, and a total market capitalization of nearly US$2 billion, with more than 5,000 staff worldwide.
In recent years he has further diversified his interests into real estate and hotel management with the successful development of Tower 15, boutique hotel Klapsons, and popular sky-terrace bar Fabrika.
Speaking about his latest investment, Lee said: “Raimon Land stands out clearly as Thailand’s leading luxury real estate developer and, like me, they are passionate about exceptional quality and innovation. The Group has bright prospects with its unique offering which resonates well with an emerging populace that demands affordable luxury and identifies with strong brands. I believe the Company has great potential to expand regionally, and I look forward to working closely with Raimon Land and their management team in identifying opportunities for growth in Thailand and throughout the Asia Pacific region.”
Raimon Land has achieved a major turnaround since 2009 with a solid platform of projects under development in Thailand. Having successfully established its leadership position in the Thai market, Raimon Land’s on-going projects and new growth opportunities look to continue to provide a secure stream of cash flow and returns to shareholders.
Andrew Batt, International Group Editor of PropertyGuru, wrote this story. To contact him about this or other stories email andrew@allproperty.com.sg
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