TO DISCUSS YOUR PROJECT OR LEARN MORE ABOUT OUR SERVICES:

  • This field is for validation purposes and should be left unchanged.

Raimon Land Lower Pricing Strategy with Amalfi

Category: Real estate, Posted:11 May 2009 | 09:15 am

Reducing property prices has been tabled as a possible strategy by the Chief Operating Officer of Raimon Land Kitti Tungsriwong according to quotes in the Bangkok media. The company is reportedly revising the master plan of the 43 rai Amalfi luxury project here in Phuket which is valued at THB 500-600 million and now villa pricing points would be well under the anticipated THB 250 million mark for the 15 luxury estate homes.
Lower construction prices are being referenced as the rationale for downward pricing. Raimon's largest shareholder IFA Hotels and Resorts had injected THB 356 million into the company recently on a short term high interest loan at 15%. They are now injecting a further THB 359 million with interest pegged at 10% and a revision to the rate on the initial loan to 10%.
Cash flow remains a significant issue for all of the large Thai listing property firms and with the continued downturn forecasted for a least the rest of 2009, firms are now taking the view that 'cash is king' which may put property prices in the larger markets such as Bangkok at risk. At the end of the day, "you can't take percentages to the bank, only cash" commented an industry analyst.

Other News

Read more

C9 Hotelwork’s Releases Philippines Branded Residences Report

Category: Real estate, Posted:25 Feb 2024 | 19:51 pm The Philippines branded residences market is experiencing a significant maturation, impacted by urbanization and a post-pandemic shift in lifestyle changes. The market is poised for a high level of growth. C9 Hotelworks newly released Philippines Branded Residences Market Update shows a 105% increase in the pipeline, translating to an additional 5,599 units supplementing the current […]
Read more

Phuket’s Largest Highway Interchange Expected To Attract Largescale Development

Category: , Posted:10 Feb 2024 | 09:42 am The release of plans for a massive highway interchange in North Phuket is spurring development activity in the Mai Khao area. A Mueang Mai interchange on the road leading to Phuket International Airport on the island’s main North-South artery will also have a  direct connection to the East Coast spur highway 4027.  (CLICK to see […]
Read more

GOCO Hospitality Inks Deal With Singapore Temasek to Expanded Wellness Resorts in Thailand and Southeast Asia

Category: , Posted:07 Feb 2024 | 10:33 am Leading Bangkok-based wellness group GOCO has signed a deal with Singapore’s Temasek private equity group via The Fullerton Fund. The injection of funds into GOCO is reportedly ‘high eight figures’ and will fund expansion in Thailand and Southeast Asia into hospitality assets. Two acquisitions are expected to be announced in March by Founder and CEO […]
SiaJai logo

Thailand's Leading Homecare Marketplace