Announces the launch of the Lofts Ekkamai
Pradit Phataraprasit, Raimon Land’s new Chairman
of the Board of Directors.
Raimon Land PLC has announced record financial results for the year 2012,
with a landmark net profit of THB 496 million (USD 16.6 million). The
company’s 2012 EBITDA1 reached its highest level ever, at Baht 1.058 billion
(USD 35.46 million). Confirming further its sound financial situation, with
a secured backlog at the end of 2012 of Baht 16.3 billion (USD 546 million)
and unrecognized sales in its current projects valued at Baht 28 billion
(USD 939 million), the company saw its gross profit margin jump to 33%.
This positive announcement was made end February by Pradit Phataraprasit,
Raimon Land’s new Chairman of the Board of Directors, and Lionel Lee, new
Director. Earlier this month, the Singapore-based Lee family became Raimon
Land’s largest shareholder, after acquiring a 24.97% equity from IFA Hotels
& Resorts 3 Limited of Dubai. Consequently, five new directors were
appointed to the company’s Board, including Nuch Kalyawongsa as Chief
Financial Officer, Lionel Lee, his brother Adrian and Johnson Tan Chin
Kwang. Aside from these new faces in the board room, Raimon Land’s
management remains the same.
Lionel
Lee, new Director
Expounding on the company’s plan of action, Lionel Lee emphasized the
strategies that will be the backbone of its future growth. “We will continue
to focus on high-end property development in Bangkok and resort destinations
in Thailand, which has been instrumental to Raimon Land’s success,” he
explained in reference to the company’s existing projects: The River and 185
Rajadamri in Bangkok, and Zire Wongamat and Unixx in Pattaya.
“Also, we intend to diversify our activities by developing additional
income-generating sources, such as rentals from commercial properties, hotel
management fees and revenue from food & beverage outlets,” he added.
The Lofts Ekkamai, a trendy development catering to the needs of a young
generation of condominium buyers
Raymond
Land CEO Hubert Viriot
First on the company’s agenda is the launch of The Lofts Ekkamai. Targeting
both Thai and foreign customers, the 28-storey project will comprise a total
of 264 units, with a mix of studios and 1, 2 and 3-bedroom apartments, as
well as spacious duplexes designed for modern living. Conveniently located
on 2 rai of freehold land in the trendy Sukhumvit-Thonglor-Ekkamai area, the
Baht 2.1-billion project has been designed by HB Design, the architectural
firm behind the success of Northpoint in Pattaya, as well as The River and
185 Rajadamri in Bangkok.
The contemporary development will answer the strong demand from a younger
generation of condominium buyers for affordable yet high-quality apartments
that offer convenient and close access to public transportation, excellent
facilities and infrastructure. The project’s official launch is scheduled in
Q2 2013, with completion expected by the end of 2015.
Reflecting the company’s growth strategy, Raimon Land is looking forward to
the launch of serviced residences at The River under the Klapsons brand, in
reference to the award-winning Klapsons boutique hotel developed and managed
by the Lee family in Singapore. In a similar move to diversify into new
income-generating projects, the popular Vue fusion mall adjacent to The
River could be replicated in other developments, while The River Promenade
could be redesigned as a trendy F&B destination along the Chao Phraya.
“As a long-term shareholder, we will explore opportunities to leverage on
our business network at the regional and international levels, while
continuing to develop Raimon Land’s brands and preserving the company’s high
quality standards and founding values that are behind its formidable
reputation.” added Lee.