Bangkok--8 Jul--Francom Asia An increase in demand from Thai buyers at The River — Bangkok’s premier condominium project being developed by Raimon Land on the Chao Phraya River — has pushed sales over the THB7 billion mark, driving the project’s total sales volume to 55.5% of the targeted THB12 billion. This surge in take up of the condominium’s, more than THB800 million over the sales target to date, has prompted Thailand’s leading luxury condominium developer to release the South Tower’s higher units earlier than planned. More than 80% of the North Tower’s units have already been sold. Since launching the 837-condominium project in March 2007, during which the limited number of units released were sold within three days, Raimon Land has incrementally released 492 condominiums, selling 418 of them for a total of THB7.094 billion. In square metre terms, 53,685 square metres have been sold for an average of more than THB132,000 per square metre. This represents 51.5% of the project’s total area. Raimon Land Chief Executive Officer, Nigel J Cornick, said this strong performance reflects the positive sentiment held among investors that Thailand’s property sector can continue to expect sustained demand throughout the year and into next year. “This is particularly true of the high-quality, luxury condominium sector, which is driving the market forward despite the ongoing political instability. This also sends a positive signal to international investors considering strategic property purchases in the country,” Mr Cornick added. Sales in The River, Raimon Land’s highest valued project to date, got off to a solid start in 2008, with figures for February alone topping THB1 billion. All subsequent months surpassed their THB300 million target, except April which is traditionally slow due to the Thai New Year holiday. The prestigious The River condominium project is the focal point of Raimon Land’s marketing initiative to develop and promote an exclusive lifestyle community on the Chao Phraya River. Mr Cornick noted the Chao Phraya was once the epicentre of commerce and filled with close-knit neighbourhoods. By leading the drive to rejuvenate the river, Raimon Land will add value to the area for its customers and prospective buyers. “Our aim is to revitalise the river to its previous status, with the Thonburi side at the heart of a concept that establishes a five-star lifestyle along its banks while maintaining a real feel of community. We want to engage customers by inviting them to our show suits and inspire a new appreciation of riverside living,” Mr Cornick said. The River Promenade has held a number of upscale international events already this year including a performance by world famous DJ Ti?sto and the debut of Emilio Pucci’s Spring/Summer Collection 2008. When completed in 2011, The River will be the tallest residential building in the Bangkok at 250 metres, with its own private 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. For more information about The River project, please visit www.theriverbangkok.com. About Raimon Land Raimon Land is Thailand’s premier luxury condominium developer. The award-winning company counts multi-billion-dollar Middle East property developer IFA Hotels & Resorts and Istithmar Hotels FZE among its investors and is listed on the stock exchange of Thailand. Raimon Land has 12 projects in Thailand, including The River and 185 Rajadamri in Bangkok, Northpoint and The Lofts Southshore in Pattaya and The Heights and Amalfi in Phuket. The company recently won three awards at the Thailand Property Show 2007: Best Developer, Best Property Development Website and Best Urban Condo. For more information about Raimon Land, please visit www.raimonland.com PRESS ENQUIRIES : Walaiklao Kumwong Raimon Land Public Relations C/O Francom Asia Tel: 02 233 4338 or 39 Fax: 02 236 8030 E-mail: [email protected] Kwanrudee Maneewongwatthana Senior 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]