By Nikki De Guzman:
After announcing its record financial results of 2012, property developer Raimon Land will continue to develop luxury property projects in Bangkok and resort destinations in Thailand.
Last year, the company posted a net profit of THB496 million while its EBITDA reached its highest level at THB1.058 billion. The company profit grew 33 percent, reported the Pattaya Mail.
“We will continue to focus on high-end property development in Bangkok and resort destinations in Thailand, which has been instrumental to Raimon Land’s success,” noted Lionel Lee, the company’s new Director and Majority Shareholder during the announcement of company results last month.
The new projects will include The Lofts Ekkamai (pictured), a 28-storey development comprising 264 units ranging from studios, one- to three-bedroom apartments, and spacious duplexes.
Nestled on a two-rai freehold land in the Sukhumvit-Thonglor-Ekkamai area, the THB2.1 billion project targets both Thai and overseas buyers. Designed by HB Design, the modern lifestyle development promises to offer affordable yet high-quality apartments with excellent facilities and infrastructure and close proximity to public transport.
Set for an official launch by second quarter this year, the development will likely be completed by end-2015.
Morever, Raimon Land also intends “to diversify our activities by developing additional income-generating sources, such as rentals from commercial properties, hotel management fees and revenue from food and beverage outlets,” added Lee.
The developer is also expected to launch a serviced residences project at The River under the Klapsons brand. It could also replicate the Vue fusion mall beside the The River into its other developments as well as redesign The River Promenade along the Chao Phraya.
Nikki De Guzman, Junior Reporter at PropertyGuru, wrote this story. To contact her about this or other stories email nikki@allproperty.com.sg
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