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New Entrant into Thailand Property Market

By on Dec 07, 2015 in Office, Property News

1388093There is a new entrant into the Thailand property market, the renewable energy company Prime Road Group. They have diversified into the property business, starting with a commercial building in Udon Thani worth 1.2 billion THB.

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The Prime Road Group are aiming to tap strong demand from the province’s economic growth prior to expanding to Bangkok, Chon Buri and Phuket in 2016.  Group Chairman, Somprasong Panjalak said “The nation’s overall economic outlook is not so good, but political stability, Asean integration and Thai-Lao border trade will help boost Udon Thani’s economy”.

Sawat Teeratananugulchai, Chairman of the Udon Thani Chamber of Commercer, said the upper Northeast’s economic hub was expanding and attracting many investors from China and South Korea as the province is just 30 kilometres from Nong Khai, a special economic zone. “Business opportunities in Udon Thani are huge, largely driven by cross-border trade totalling 100 billion baht each year,” Mr Sawat said.

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Prime Road Group have now launched phase 1 of Prime Square  Udonthani, comprising of 230 commercial units. Prices start from 4.5 million baht per unit with a 30 year lease contract.

Prime Road Group are also planning to launch property projects in Bangkok, Chon Buri and Phuket worth a combined 5 billion baht. For the Phuket property it has a 4 rai plot near Kamala beach where it will develop condos and villas in the mid priced range. The Bangkok property project will be on the aspirational upper Sukhumvit Road.

Article Source: Bangkok Post, 27th November 2015
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