Raimon Land starts construction at 185 Rajadamri

Thailand’s high-end property developer Raimon Land has awarded the piling contract for its latest development 185 Rajadamri to Pylon Public Co., Ltd. The piling work commenced last Monday and will be completed in January 2011.

Officially launched in September, the project has been attracting potential buyers among Thais and the expatriate community. To date, 30 per cent of all available units have been firmly booked, representing sales amounting to approximately THB 2.4 billion (US$80.15 million).

 “The response from customers has been tremendous. An impressive number of potential homeowners and investors visit our showroom everyday, attracted by the prospect of owning the last remaining freehold property on Rajadamri Road,” said the company’s chief executive officer Hubert Viriot.

According to Viriot, the company also plans to increase pricing for the project, starting December 1.

Scheduled for completion in late 2013, 185 Rajadamri is the last remaining freehold residential development along the historical Rajadamri Road.  It occupies a land area of 4 rais and will feature 268 units, for a total value of approximately THB 9.6 billion (US$320.4 million).

Last August, Raimon Land secured THB 2.79 billion (US$93.1) in credit facility from Bank of Ayudhya to support the development of the project.

Source: http://www.property-report.com/site/raimon-land-starts-construction-at-185-rajadamri-9403