Thailand’s luxury property developer Raimon Land has awarded the THB 2.4 billion (US$79.3 million) building contract for its 185 Rajadamri condominium project to Bouygues Thai, the local subsidiary of leading international construction firm Bouygues.
Bouygues Thai will be responsible for the overall building construction including the management of sub-contractors for mechanical, electrical and plumbing installations. Construction began April 1.
According to chief executive officer Hubert Viriot, the 185 Rajadamri is Raimon Land’s most luxurious project to date, which is poised to become a landmark in Rajadamri area. It was, therefore, quite critical for the company to select a contractor with a proven track record in delivering top quality residential projects on time and within the budget.
Scheduled for completion in late 2013, the 185 Rajadamri is Raimon Land’s sixth project in Bangkok, located on the last remaining freehold land plot on Rajadamri Road. It will feature 268 units for a total value of THB9.6 billion (US$317.4 million), lifting the total value of Raimon Land’s project pipeline to THB28 billion (US$926 million)over the next three years.
“185 Rajadamri is the second project we launched in less than six months,” said Viriot “This demonstrates our strong financial health and long term confidence in the market. With this construction contract now signed and with more than 35 per cent of the project already pre-sold, we can comfortably set our sights on further projects in Bangkok and elsewhere.”
Bouygues is one of the world’s largest construction groups. It has been the force behind several international landmark buildings including The Sail@Marina Bay in Singapore and the SkyCity Marriott Hotel in Hong Kong. In Thailand, Bouygues Thai enjoys a wealth of experience in the construction of Grade A residential projects, and has been a partner for several Raimon Land projects such as The River in Bangkok and the recently-completed Northpoint condominium on Wongamat Beach in Pattaya.
