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Raimon Land partners Standard
Chartered Bank (Thailand) to offer
promotional services to new customers
Pictured from left to right:
Raimon Land Chief Operating Officer, Kitti Tungsriwong; Raimon Land Chief
Executive Officer Nigel Cornick; Standard Chartered Bank (Thailand) Executive
Vice President, Yuttchai Teyarachakul and Standard Chartered Bank (Thailand) and
Areeporn Techachokwiwat, SVP, Standard Chartered Bank (Thailand).
Luxury property developer Raimon Land has signed a memorandum
of understanding with Standard Chartered Bank (Thailand), to provide potential
investors in the recently completed 176-unit The Lofts Yennakart condominium,
with a range of complimentary services until September 30, 2008.
The benefits will include a free appraisal for all The Lofts Yennakart
condominiums by the bank for potential buyers and bank handling charges for any
loans relating to the purchase of a condominium at the development, plus a 0%
interest rate for one year as opposed to MHR-0.75%.
New customers who utilise the bank’s loan drawdown services will also be
entitled to vouchers at PowerBuy, a leading retailer for white and electronic
goods found in all Central Department Stores.
For a loan drawdown amount of less than THB 5 million, customers will receive a
voucher for THB10,000. For THB5,000,001 to THB9,999,999 customers will receive a
voucher for THB30,000 and for more than THB10 million a voucher for THB50,000.
Moreover, anyone who draws down before August 31 will receive the added bonus of
two domestic flights on Thai Airways International to a destination of the
customers’ choice. The ticket does not include the fuel surcharge or taxes.
Raimon Land Chief Executive Officer, Nigel Cornick, said: “We are pleased to be
able to offer new customers at The Lofts Yennakart this additional value and
security as a result of our partnership with Standard Chartered Bank (Thailand)
to purchase one of the few remaining units at this superb luxury condominium
development.”
Three types of two-bedroom units between 67-93 square metres are available for
THB5.7 to THB7.9 million, while the four categories of three-bedroom units cost
between THB12.3 to THB15.7 million.
The Lofts Yennakart penthouse unit has been chosen as the official residence and
location for the shooting of new reality TV series “Superstar”, the location in
which the memorandum of understanding was agreed and signed.
Tourist growth helps boost property market in Cambodia
The number of tourists visiting Cambodia has increased in the
first half of this year with authorities now predicting more than 2.3 million
visitors for 2008.
The Ministry of Tourism said numbers were up more than 14% compared with last
year. A spokesman said political stability and infrastructure improvements had
increased the number of tourist arrivals to the country. Some $1.64 billion is
expected to be generated in 2008 from tourism alone.
According to specialists this means a boost for those with buy-to-let property
in the country as these latest figures are part of a trend. Visitor numbers
reached 2 million in 2006, and rose a further 20% in 2007.
‘This sustained and aggressive growth in the tourist sector, as well as booming
construction, property and garment manufacturing sectors is helping the
country’s economy to enjoy near double-digit growth,’ said a spokesman for David
Stanley Redfern.
The real estate sector, in particular, is growing at a phenomenal rate and no
more so than in the capital Phnom Penh where land doubled last year to US$3,000
per square metre, up from just US$500 in 2000. ‘Add to this the growth in the
tourism sector and rental yields in the city are also expected to grow,’ he
added.
Once known as the ‘Pearl of Asia’, Phnom Penh is a significant global and
domestic tourist destination for Cambodia. The city is the wealthiest and most
populous in the country; it’s commercial, political and cultural hub and is home
to more than two million people.
French villas along tree-lined boulevards remind the visitor of its colonist
heritage, yet its oldest structure is the Wat Phnom from the founding days of
the city, constructed in 1373. The French however, certainly left their mark and
parts of the city are filled with colonial villas, French churches, boulevards,
and famous landmarks such as the Art deco market Phsar Thom Thmei and the Hotel
Le Royal.
Proving popular are apartments in the chic riverside French quarter from as
little as 49,000 UK pounds. These authentic French colonial period buildings
have been completely refurbished and modernised and are expected to appreciate
by 15 to 20% per year. The developer is currently offering a rental guarantee of
9% for the first two years, making this a safe investment in an aggressively
growing market. (source www.propertywire.com)
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