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Bangkok Property – Fico Gears for Bt4.1 bn Expansion

By on May 15, 2015 in Property News

Bangkok Property Fico Corporation has its eye firmly on Bangkok Property. Fico has set a three-year expansion budget of Bt4.1 billion and part of this is for developing hotels and homes in Bangkok. The budget is planned to be split Bt3.58 billion for Thailand and Bt525 million for Europe. In Bangkok, Fico is planning a Br500 million budget hotel on Silom Road and then later a Bt 1 billion serviced apartments in Ekami. Alongside this work Le Fenix on Sukhumvit is due to be refurbished at a cost of between Bt70 and Bt80 million to upgrade the hotel.

“The group is diversifying into new and existing conglomerates with interests in textiles, hospitality, real estate, food and beverage, retail, fashion and entertainment,” KritSrichawla, chief executive officer, said yesterday. It is also branching into the metals and minerals, media and personal finance businesses this year.

The group revenue is targeted to rise from Bt4 to Bt5 billion last year  to Bt6 to Bt8 billion this year.

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