Bangkok--17 May--TAMC
Thai Asset Management Corporation (TAMC) sets out to hold an NPA Shock Price Festival featuring attractive assets coveted by investors with discounts worth over 50 million baht. Combining interesting properties on hand and new-arrival lots totaling 260 items worth more than 50,000 million baht, the TAMC Shock Price Festival is offering an auction on 18 June 2010.
Mr. Chaovarat Chaochavanil, TAMC’s Executive Vice President of Property Management Group, revealed that during the first four months of 2010 TAMC achieved a sales volume of 4,500 million baht against the annual target of 7,400 million baht. “TAMC is confident of accomplishing the sales target this year as it did satisfactorily in 2009, despite the impact of negative factors on the economy and political stability.”
On the strength of an offensive marketing strategy, including nationwide road shows, intensive promotion activities targeted at specific groups of investors, and state agency cooperation, the achievement of asset sales reflects the investors’ confidence in the real estate sector. “The precise choice and direct sale of high-potential assets to government agencies at special prices are geared to optimal property utilization, benefiting the society and publics at large,” he said. Since its inception in 2001, TAMC has been able to sell NPA worth a total of 55,000 million baht. “With the assets on hand numbering 10,000 items worth 80,000 million baht and new arrivals worth 15,000 million baht by the end of the year, TAMC is launching the Shock Price Festival to accelerate NPA sales. TAMC will sell the remaining assets to Bangkok Asset Management (BAM) and Sukhumvit Asset Management (SAM) before terminating its operations on 8 June 2011,” said Mr. Chaovarat.
The Shock Price Festival during the second quarter of 2010, Mr. Chaowarat said, will focus on the strategic choice for sales of 260 items of interesting assets from 50 million baht up, totaling 51,767 million baht. “Discounts as much as 20-50% off the original prices will be offered to attract and stimulate investors’ interest.”
“The Shock Price Festival also features newly acquired assets never offered before for sales. The added benefits are the exemption of taxes and property transfer fees. This presents very worthy investment opportunities to investors,” he added.
The assets that TAMC has picked for the Shock Price Festival comprise 60% being vacant land and the rest assets on land, commercial buildings, residential and industrial projects.
“Properties in the Metropolitan Bangkok account for 109 items worth 32,955 million baht, with 45 items in the East worth 6,817 million baht, 45 items in Central Thailand worth 6,047 million baht, 37 items in the Northeast worth 3,562 million baht, 17 items in the North worth 1,645 million baht, and 7 items in the South worth 738 million baht,” elaborated Mr. Chaovarat.
The highlights of the Shock Price Campaign include:
? One 1-rai plot of land with a 17-storey hotel building in downtown Bangkok adjoining New Petchburi Road, near Ekamai Intersection, at the Shock Price of 252.168 million baht compared with the original price at 375 million baht.
? A 15-rai plot of vacant land adjoining Srinakarin Road near Soi LaSalle at the Shock Price of 275.86 million baht compared with the original price at 337.161 million baht
? A mini-factory project on a 442-rai piece of land adjoining Bangpakong-Chachoengsao Highway at the Shock Price of 685.46 million baht versus the original price at 810.05 million baht.
? An 8-rai piece of land with a four-storey department store building adjoining Ramkamhaeng Road near Lamsalee Intersection at the Shock Price of 356.2 million baht against the original price of 610.064 million baht.
? A 119-rai piece of land adjoining Petchkasem Highway near Cha-um Beach at the Shock Price of 380.216 million baht against the original price of 427.743 million baht, etc.
“TAMC schedules the Shock Price Festival auction by sealed bids on 18 June 2010. Interested parties are invited to register for the auction from 17 May up to 15 June 2010 and may seek consultation with a team of TAMC asset specialists about property details and appraisals,” added Mr. Chaovarat. “Please feel free to contact TAMC with any questions you may have relating to the Shock Price Festival auction on 0-2265-5100 or e-mail:
[email protected],th.”