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Bangkok Condo Investment by CP Land – Bt20bn Earmarked

CP LAND, a property arm of Charoen Pokphand Group, plans to invest more than Bt20 billion until 2017 to develop both residential and commercial properties in Thailand and Asean.

“We plan aggressive investment this year and the next three years after the rise in demand for property, including office, retail, hotel and residential, when the ASEAN Economic Community becomes effective in 2015,” Sunthorn Arunanondchai, president and chief executive officer, told a press conference yesterday.

Besides condominiums, it sets its sights on hotels, office buildings and retail centres to generate rental income.

The company also plans to launch 30 condominium projects next year worth up to Bt10 billion, including mix-used projects combining condos and retail space.

It is in discussions with a Chinese property firm about establishing a joint venture late this year to expand investment in Thailand and elsewhere in Asean.

CP Land sees the possibility of investing in new offices and hotels in Asean, particularly in Myanmar, Vietnam and Laos. The first could be launched next year.

“Our strategy is to develop residential projects nationwide in line with growth in demand. We also have land nationwide that will support our expansion in residential and rental-income projects such as offices, hotels and retail centres,” he said. Demand for all types of properties is on the rise.

“We have enough cash for the expansion, while our debt-to-equity ratio is lower than 0.4. That means there’s enough room to borrow more,” Sunthorn said.

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