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

Who’s Caesar And Phuket’s Fastest Growing Hotel Group

Category: Tourism, Posted:04 May 2021 | 06:00 am Welcome to the latest Thai Road Trip episodes from C9 Hotelworks and Delivering Asia Communications. Listen to the Executive Director of Jee Teng Hospitality talk shop and what’s next. We also get out the kitchen and into the dining room handcrafted tableside food service. Check these two now – Inside Story. A Phuket Hotel Group […]
Read more

Sandstorm In the Sandbox

Category: Tourism, Posted:03 May 2021 | 09:39 am All eyes this week locally are on the fate of the Phuket Sandbox which remains a work in progress. The second round of local vaccinations were planned to start this week but given Thailand’s third wave it’s unclear whether the process can move on the expected timeline due to vaccinations being deployed elsewhere in needed […]
Read more

Posh Pool Villas Debut, Island Expat Jabs and Elephants Gone Wild

Category: Tourism, Posted:26 Apr 2021 | 06:00 am It’s Monday and time to get the inside story in these latest video episodes of Thai Road Trip from C9 Hotelworks and Delivering Asia Communications: Phuket Luxury Tourism Heads East Covid-19 Vaccinations For Phuket Expats. What’s Next Phuket’s Journey For Ethical Tourism