Mesa Thai takes 21.4% stake in Raimon Land to strengthen leadership position in luxury real estate development
Mr. Kris Narongdej, Chairman of the Board of Directors of Raimon Land Plc., announced that Mesa Thai Pte. Ltd. now holds a 21.4% stake in the company by acquiring 893 million shares from existing shareholders. This makes Mesa Thai the second-largest shareholder in Raimon Land Plc. after KPN Land Co., Ltd.
Mesa Thai Pte. Ltd. is owned by Mr. Kwee Liong Tek, Chairman of Pontiac Land Group, a leading Singapore-based real estate developer with award-winning projects including world-class office buildings, hotels and resorts, residential developments and medical centres such as Ritz-Carlton Millenia Singapore, Conrad Centennial Singapore and Capella Sydney, Millenia Tower, Centennial Tower and Camden Medical Centre in Singapore, 53 West 53 in New York, and the Colonnade in Singapore.
Mesa Thai Pte. Ltd. issued a statement saying: “Mesa Thai Pte. Ltd. is pleased to have become a significant shareholder in Raimon Land Plc. We have strong confidence in Thailand’s economy and see great potential in the business of Raimon Land Plc. Our representatives to Raimon Land Plc.’s board of directors look forward to working closely with its chairman and other directors, enabling the company to remain focused as a premier real estate developer and together, take the company to greater heights.”
“Having Mesa Thai Pte. Ltd. as Raimon Land Plc.’s shareholder will help strengthen our leadership position in the luxury real estate market. This collaboration will also open opportunities to expand into new business segments in the future,” Mr. Kris added.