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Proud Enters Bangkok Apartment Residential Market

By on Nov 05, 2013 in Property News

New Bangkok Apartment Development by Proud Real Estate Co.

Proud has budgeted up to Bt10 billion for a Bangkok residential project called Park 24 on Sukhumvit Soi 24 that will take at least three years to develop. Managing director Proudputh Liptapanlop, said the company had decided to expand into residential projects after successfully developing commercial buildings. These include InterContinental Hua Hin Resort and the BluPort Hua Hin Resort Mall, a Bt4-billion joint venture with The Mall Group on 20 rai (3.2 hectares), and Vana Nava Hua Hin, the first “water jungle” entertainment complex in Asia.

“We see the demand for residential growth, and as a result we decided to develop our first residential project, Park 24. It will be developed by our subsidiary, Proud Residences Co, in which major stakes are held by the Liptapanlop family and our strategic partner Thongchai Busrapan, a former top manager of Noble Development, with registered capital of Bt1 billion,” she said.

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