Bangkok--17 Dec--KBank Foreseeing high demand for condominium units along the BTS sky-train routes, KBank extends loans over Baht 2,185 Million to Woraluck Property Co., Ltd., to finance the construction of the tallest 47-storey condominium building on Sukhumvit Road, attached with a community mall. First Senior Vice President Piti Tantakasem of KBank said in an interview, today, that KBank has agreed to extend credit facilities to Woraluck Property Co., Ltd., in the total amount of Baht 2,185 Million, to finance its Le Luk Condominium Project. It features the 27-storey and 47 storey condominium buildings, together with a Community Mall, in the total area of 10 rai. These will become the largest condominium compound and tallest condominium building in Sukhumvit road area. KBank, added Mr. Piti, still foresees some promising growth potential for condominium projects in Bangkok’s city centers, where some convenient public transportations are available. The Le Luk Condominium Project, in particular, should have high potential in this business, due to its professional management tem. Its location is perfect in a major business center of the capital, being the only condominium project adjacent to Phra Khanong BTS station. There is also an access to the Ram Inthra — At Narong Expressways. All these facilities would be among the most important factors for buyers’ decisions, most of them would focus on condominium projects, close to their workplaces, with easy and convenient transportation.Mr. Wichai Poonworaluck, President of Woraluck Property Co., Ltd., said that, although Le Luk Condominium would be the first condominium project of the company, it is certain that all condominium units would be sold out, thanks to its promising location along the BTS route. The basic concept of its urban lifestyles would differentiate itself from other condo projects in town. Le Luk Condominium is a large condominium project, equal to the total investment outlay of Baht 4,500 Million. It is consisted of two units of condominium buildings, i.e., L’amour, a 27-storey building, with 286 condominium units, and 80 percent of these have been sold out, or the total sale value of Baht 850 Million. The second tower is Sky Walk Condominium, a 47-storey building, equipped with 552 units, which will become the tallest condo building on Sukhumvit road. It will be the first condo in the world, with its reception lounge at the top of the building. This includes a large aquarium, waterfalls and beach on a high-rise building. Total sales of this building have reached Baht 400 Million now. Woraluck Property also plans to cooperate with Siam Future Development in building a Community Mall, to serve as a shopping and recreational area for residents at the condos. At present, Le Luk Condominium is applying for a construction permission, and the construction would start in January 2008. The construction of both towers would take approximately 36 months, and the first tower would be ready by the end of 2009.