Bangkok--Mar 25--124 Communications
Grande Asset Development Plc., Thailand’s leading property and hotel developer, announces its business directions on condominium and hotel expansion, new spa chain business, named “Vareena”, and targets this year’s revenue at Bt…million.
Mr. Pongphan Sampawakoop, Executive Chairman of Grande Asset Development Plc., said “Last year, the company posted the total revenues of Baht 893.90 million and a net profit after tax of Baht 130.15 million. The net profit increased 593 per cent from 2003 net loss of Baht 26.5 million. The hotel revenues rose from the increasing room rates. Moreover, Hua Hin Blue Lagoon Project received revenue recognition from both condominiums and villas at Baht 353.7 million. The growth rate from these two projects is satisfying for us.”
In the year 2004, the company achieved 593 per cent growth from the rising net profit of Baht 156.6 million from net loss of Baht 26.5 millions in the year 2003.
Mr. Pongphan announced that this year Grande Asset is gearing ahead its projects on the prime locations on Sukumvit road, namely The Crowne Plaza hotel on Sukumvit 27, the Regent Bangkok and the Regent Residence, and The Trendy on Sukumvit 13. The Central Business District locations of Grande Asset are always in demand, which can be confirmed by the successful sales on condos and office spaces of the Trendy and the Regent Residence. While the five-star Regent Bangkok Hotel is scheduled to be completed in early 2007, the 4.5-star Crowne Plaza is to open in mid-2006.
Moreover, for community’s and public’s convenience, Grande Asset donated its land plot of 67 square-meters to the Bangkok Metropolitan Administration to expand Soi 13’s width. From the original one-way with 5.50 meter-width, the Soi is currently under construction to two-ways with seven meter through to Asokmontri Street.
Situated in the Jungceylon complex, the Four Points Sheraton Hotel is scheduled to open in the mid-2005. While Sukhumvit area is the strategically commanding prime location for Bangkok, Patong is another foremost area for Phuket that Grande Asset focuses on.
Grand Asset Development Plc. is Thailand’s leading property and hotel developer with 8 projects as follows: Westin Grande Sukumvit Hotel, Crowne Plaza Hotel, The Regent Bangkok Hotel, Sheraton Hua Hin Resort, Four Points Sheraton Hotel, Hua Hin Blue Lagoon resort condominiums and Island Villas, The Regent Residences and The Trendy.
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