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Condo in Thailand – Buritara Eyes Yangon in Expansion Plans

BURITARA DEVELOPMENT CO has set aside an investment budget of Bt2 billion to develop condominium projects in tourist destinations in Thailand, Myanmar and Laos this year and next.  Half of that will be spent this year to develop three projects in Bang Saen and Pattaya, and the rest in 2015 to develop condo projects in Chiang Mai, Phuket, Myanmar and Laos, chief executive officer Tite Chinsomboon said.

In Thailand, the company plans to run condo resorts in Chiang Mai and Phuket by taking over existing properties developed by other firms that need a partner to manage them.

At present, the company has three resorts under the Buritara brand, in Kanchanaburi province, Jomtien beach in Pattaya, and Koh Phangan in Surat Thani province. They have 146 rooms in total and an occupancy rate of about 50 per cent.  They generated revenue of Bt160 million last year.  The company is developing three resort projects this year. Buritara Chateau Resort Condo Bangsaen, worth Bt400 million, has already sold about 40 per cent of its units, with transfer to customers to begin next quarter. It will launch the other two projects, both under the villa concept and each worth Bt300 million, in the current second half. They are Buritara Town Resort Jomtien and Buritara Royal Grand Hill Villa Jomtien.

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Nora has been in the Corporate Communications arena for a number of years. Nora's role is to communicate all newsworthy items that are of a PR nature.

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