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Bangkok & Phuket Property Developer – Narai, Nye Estate

By on May 17, 2015 in Property News

Phuket Property 2015-05-12_124841Narai Property Company is planning to launch 15 new residential projects in Bangkok and Phuket. Combined these projects will be worth 14 billion Thai baht and are all expected to be opened later this year.  “The new subsidiary has been set up to tap the high-end segment, while Narai will focus on mid-priced projects,” said Mrs Ornruedi.

Nye Estate was set up last October with registered capital of 1.3 billion baht, with Narai Property owning 97% and individual investors including Mrs Ornruedi 3%. Several of the projects by Nye Estate will be joint ventures with one of them aiming for a high end development. Nye Estate have been waiting to find the right piece of land to be able to position a high end development. In addition, Nye Estate are also looking at commercial projects and hospitality businesses.

Nye Estate is aiming to achieve 2 billion baht in sales this year and growth of at least 10% per year.

The Residences at MontAzure@Kamala Beach is a luxury condo development on Kamala beach in Phuket. Prices start at 8 million Thai baht and go all the way up to 80 million baht. This is a joint venture with Arch Capital Management and the investment group Philean Capital Ltd.

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