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Bangkok Retail – King Wai Group Set to Invest

By on Jun 29, 2016 in Retail

King Wai Group, a large Chinese developer, is planning to invest in new development and acquisitions in the Thailand property sector. King Wai Group acquired Keppel Thai Properties Plc (KTP) last month. The group are planning to focus on property projects related to tourism, shopping/retail and health care and are mainly targeting Chinese customers.

Chairman Chan said, “We studied opportunities in Thailand in 2013 and predicted a boom in the Thai property sector. We will focus on Chinese buyers because Thai property prices are lower than in China.”

KTP has housing inventory of of 1.28 billion baht and also owns Jewelry Trade Centre, a 34-storey office building covering 42,834 square metres in Silom. KTP has reported net losses for many years – 140 million THB in 2013, 56 million THB in 2014 and 67 million THB in 2015. Despite these losses, Mr Chan said KTP was attractive as it was a listed firm and its former major shareholders were also listed on the Singaporean bourse.

Source: Bangkok Post, 21st June 2016
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