Bangkok--Oct 6--Francom Asia
Today Mr. Nigel J. Cornick, CEO of Raimon Land announced that the company plans to acquire and develop a Grade A condominium project on a prime twelve rai beachfront site at Wongamart, North Pattaya. The acquisition is subject to Shareholder approval at an EGM to held on 14th November 2005.
The site located in Naklua Road, Pattaya, has approximately 80 metres of beach frontage and is adjacent to the Aisawan Resort and Spa. It is envisaged that the development will be composed of two towers offering one, two and three bedroom units with extensive landscaping, swimming pools and recreational facilities. All units will have panoramic sea views.
Commenting on the planned development Mr. Cornick said “The success of Raimon Land’s Northshore project, the first Grade A condominium to be launched in Pattaya for many years has highlighted the substantial demand for quality condominiums in Pattaya, particularly close to the town centre and the north end of Pattaya.”
Mr. Cornick went on to add “We have sold 90% of Northshore, with prices reaching Baht 100,000 per sq. metre. During the past 12 month we have achieved sales of Baht 1.2 Billion with over 2,500 visitors to our display suite which has resulted in our having a long waiting list for our next Pattaya project. We are therefore very confident that the new project to be known as “NORTHPOINT” will be well received by the market and set a new benchmark for the Eastern Seaboard real estate market.”
The project is scheduled to be launched in 2006, with completion by the end of 2009.
Further information
RAIMON shares are listed on the Stock Exchange of Thailand and its major shareholders include Seamico Securities Plc., one of Thailand’s largest stock brokers. Further information concerning the Company can be obtained from its website at www.raimonland.com
ISSUED BY SEAMICO SECURITIES PRESS DISTRIBUTION SERVICE AT THE REQUEST OF THE COMPANY
MEDIA ENQUIRIES :
Mr. James Ward / Nuttaporn Tangwongsan
Raimon Land PRC/O Francom Asia
Tel: 662 233 4338 or 39
Fax: 66 2 236 803
E-mail: [email protected]
Mr. Nigel J. Cornick
Chief Executive Officer
Raimon Land Public Company Ltd.
22nd Floor, The Millennia Tower
62 Langsuan Road, Pathumwan,Bangkok 10330
Tel : +66 (0) 2651-9600 to 4
Fax : +66 (0) 2651-9614
E-mail : [email protected]
Khun Kitti Tungsriwong
Chief Operating Officer Raimon Land Public Company Ltd.
22nd Floor, The Millennia Tower
62 Langsuan Road, Pathumwan,Bangkok 10330
Tel : +66 (0) 2651-9600 to 4
Fax : +66 (0) 2651-9614
E-mail : [email protected] End.