Raimon Land Plc has THB 20 billion plans to diversify its holdings over the next 3 years that include projects in the non-residential property sector, reports local media. The company will still be involved in residential developments and recently launched its newest project, The Lofts Silom.
“We will stay focused on high-end projects and diversify into more landed housing developments and recurring income from hotels, offices, overseas markets, food and beverages and alternative investments,” says Raimon Land Chief Executive Adrian Lee to the Nation.
A bulk of the THB 20 billion investment will go to the development of a new office complex on Phloenchit Road. The land plot is situated across from Central Embassy and Raimon Land will lease the site from Bhatra Co Ltd. It will take over the land, which has a construction area of around 100,000 sq. metres, at the end of the year.
“Our office building will be completed by 2020 ahead of a large number of new offices being added to the market from 2022 onwards,” says Lee.
In addition to the recently launched The Lofts Silom, Raimon Land has plans to release a detached housing project valued at THB 1.1 billion later this year. The development will have up to 28 houses and be located on a 3.5-rai site on Soi Prasartsuk.
The company currently has 7 projects in Bangkok and Pattaya that have units for sale. The greatest number of unsold units is in Unixx, a Pattaya condo project. Some units are also available in 2 Bangkok condo developments: The River and The Lofts Asoke. Despite this, Raimon Land is confident in Thailand’s real estate market.
“The Thai real estate market is not good for many but it is not that poor. The momentum is still good with a lot of opportunities to invest. We have always been in the luxury segment, where new rivals are entering,” says Lee.
Receive the latest property news on email from Thailand’s No.1 property website here, or read more project reviews
