Bangkok--20 Feb--Francom Asia Premium property developer Raimon Land PLC announces that sales at its luxury condominium project ‘The River’, located on the Chao Phraya River in Bangkok, opposite the Shangri-La Hotel, have surpassed Bt 5 billion, 40% of the Bt 12 billion target sales value for the property. The River, Raimon Land’s largest project to date, was pre-launched in March 2007. Within three days the initial units released were snapped up at a record-setting price for Bangkok of Bt 150,000 per square metre. Since then a further 279 condominiums - with a total area of 38,235 square metres — have been sold for a total value of Bt 5.03 billion. This is equivalent to an average sale value of Bt 130,000 per square metre, high given that many of the units facing West have sold at prices below Bt 100,000 per square metre. Raimon Land’s Chief Executive Officer, Mr Nigel J Cornick, said “The recent sales figures at The River represent a very positive signal about the current strength of Thailand’s luxury property market. International and local players considering property investments in the country should gain confidence from this news. Capital gains and rental yields continue to show strong signs of growth.” Sales at The River in January this year reached Bt 255 million - and sales in February are already above Bt 200 million. “This is a solid start to the year for the project and a positive indication of where the Bangkok and Thailand property markets are heading in 2008” added Mr Cornick. The on-site riverfront sales office for The River project opened in the fourth quarter of 2007 and displays four different types of show units. The River ‘Promenade’, also at the project site, has since held regular gala events including ‘Fashion & Glamour by the River’ which included the launch of Emilio Pucci’s Spring/Summer Collection 2008. The piling for the 250-metre-tall structures got underway towards the end of 2007. When completed, The River will be the tallest residential building in Bangkok, with a dedicated pier and shuttle boat service to the Saphan Taksin skytrain station. Living areas, bedrooms and studies will enjoy spectacular, floor-to-ceiling city and riverside views. PRESS ENQUIRIES : Walaiklao Kumwong Raimon Land Public Relations C/O Francom Asia PR Tel: 02 233 4338 or 39 Fax: 02 236 8030 E-mail: [email protected] Kwanrudee Maneewongwatthana Vice President Communications Raimon Land PLC 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]