Mahagitsiri family acquires 15.99 per cent in Golden Land Property Development Plc

Construction News

The Chairman of Golden Land Property Development PLC, Mr Christopher Delaney was delighted to be informed of the acquisition last week of 15.99 per cent of the issued shares in the company by members of the Mahagitsiri family.

Members of the Mahagitsiri family last week acquired 15.99 per cent of the issued shares in Golden Land Property Development PLC.

“The importance of the acquisition of a significant portion of mostly foreign owned shares in Golden Land by one of the leading entrepreneurial families in Thailand is an unequivocal vote of confidence in the future prospects of Golden Land,” Chistopher Delaney, Chairman of Golden Land said.

Mr. Prayudh Mahagitsiri said: “My family has had a small interest in this iconic Thai public company for a number of years. I have been following the company closely and have been very impressed with the recently completed 40 storey Sathorn Square Office Tower, which would hold its own in any of the great commercial metropolises.”

The marketing director of Golden Land, Mr Spencer Roberts, noted that as at the end of October approximately 50 per cent of the available space has been leased or is under offer, with leasing on schedule.

The 5 star W Bangkok hotel and adjacent renovated historic Russian Embassy next to the Sathorn Square site is due to be completed during the 2nd half of 2012.

Mr Delaney said: “The synergies that will result upon the completion of the entire Sathorn Square development are a significant element in the revitalisation of the Golden Land brand as a developer of outstanding mixed use CBD properties. Our strategy will be further strengthened by the recently initiated office and hotel development at Rama 4 Road, schedule for completion in 2015.”


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