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LPN Announced Site Acquisition at Bang Khae

By on Jan 29, 2010 in Residential

LPN Development Public Company Limited announced details of their latest land purchase to The Stock Exchange of Thailand, a 3,194 square wah (12,776 square metre) site at Bang Khae for 102 million baht (32,000 baht per square wah).  The date of the transaction was October 26, 2009.

The company will develop 4 low-rise 8 storey buildings with approximately 790 units for sale.

The expected total project value is 650 million so the units will be priced at less than one million baht per unit.

LPN expect that they can complete the project within 10 months with construction commencing in January 2010.

The expected gross margin is 27%.

We have added this transaction to our table of LPN’s recent land transactions which we have set out below.

Aliwassa has been the Managing Director οf CBRE Thailand for a number of years. As a Thai national, Aliwassa is extremely knowledgeable about the sale of property in Thailand, specifically large scale high value condominium developments largely in Bangkok.

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