Raimon Land recorded a 50 percent increase in profits during 2013 to reach THB746 million – an 11-year high for the Thailand property developer.
In an interview with Bloomberg Television yesterday, Chief Executive Officer Johnson Tan declared himself to be very happy with the 2013 figures.
Tan, the only Singaporean to head a Thai listed company, revealed that his company is in constant conversation with landowners to secure new sites.
He also noted that Raimon Land’s 185 Rajadamri development in the centre of Bangkok has achieved 85 percent sales, with 80% of purchases coming from Thais.
Commenting on the political situation, Tan said it would be naive to think it doesn’t affect any businesses.
“We all hope for some form of peaceful resolution. I think the Thais will figure this out and at some point we will get some form of normalisation.”
In a statement to the Stock Exchange of Thailand, Raimon Land reported an accumulated sales backlog valued at THB14.06 billion from its Bangkok and Pattaya luxury residential developments.
Watch the full interview with Bloomberg here.
Andrew Batt, International Group Editor of PropertyGuru Group, wrote this story. To contact him about this or other stories email andrew@propertyguru.com.sg
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