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Bangkok Retail & Bangkok Condos Likely Boost?

By on Feb 15, 2016 in Property News, Retail

SET listed developer, Property Perfect Plc (PF) is in talks with Thai and Japanese partners over joint ventures in the retail, condo and hotel sectors. The combined developments could be worth 20 billion baht this year.

Chief Executive Chainid Adhyanasakul said the company’s expansion into the retail sector would need a huge investment amid high competition in the property market, where giant conglomerates like CP Group have already jumped on the bandwagon. “Property Perfect needs strategic partners to compete with them and keep growing”, he said.

“If the Japanese partner, who has expertise in residential development and mass transit construction in Japan, agrees to join with us in retail business, a residential project in Si Racha will be the next venture,” Mr Chainid said.  “From 2016 onwards, we will establish a real estate investment trust and gradually sell one of the hotels and retail properties into is, with at least one piece worth around 2 billion baht per annum over the next 5 years,” Mr Chainid said.

Previously announced, Property Perfect has plans in place to launch 17 residential projects in 2016. There will be a mixture of single houses, town houses and condos. Most will be located near the new mass transit lines.

Source: Bangkok Post 4th Feb 2016
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