Raimon Land closes THB 1,027 million financing facility from TISCO Bank for Zire Wongamat

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Luxury property developer Raimon Land and TISCO, the country’s first investment bank, have agreed on financing facilities for Zire Wongamat, the developer’s latest project.  This exclusive beachfront condominium along the prestigious Wongamat beach will combine Raimon Land’s trademark high quality with affordability, to cater to a broader range of potential owners.

TISCO Bank, one of the country’s most respected financial institutions, has affirmed its solid support for this project by providing credit facility amounting to THB1,027 million.

Suthas Ruangmanamongkol, President of TISCO Bank Plc., commented: “We are pleased to work with Raimon Land on this  project.  The location of Zire Wongamat, the experience of the team and the company’s excellent track record of delivering quality residences make this an exciting project to be involved with.”

Raimon Land Chief Executive Officer Hubert Viriot and TISCO Bank Plc. President Suthas Ruangmanamongkol sign the THB 1,027 million project financing agreement for Zire Wongamat. Also shown in the photo are Kitti Tangsriwong (far right), COO Raimon Land and Sakchai Peechapat (far left), Senior Executive Vice President, TISCO Bank Plc.Raimon Land Chief Executive Officer Hubert Viriot and TISCO Bank Plc. President Suthas Ruangmanamongkol sign the THB 1,027 million project financing agreement for Zire Wongamat. Also shown in the photo are Kitti Tangsriwong (far right), COO Raimon Land and Sakchai Peechapat (far left), Senior Executive Vice President, TISCO Bank Plc.

Hubert Viriot, Raimon Land Chief Executive Officer, added: “We value TISCO’s participation in Zire Wongamat, a two-tower residential complex that will certainly appeal to people who dream of an oceanfront home accessible to the city and recreational activities.  Right now there is a strong demand for affordable quality units where owners can enjoy five-star comfort.  We expect to start construction by Q2 2011.”

Located along Pattaya’s most secluded beach, adjacent to the newly-completed Northpoint, Zire Wongamat will feature excellent amenities and services including an infinity lap pool, children’s pool, multi-purpose sports area, fitness centre, private access to the beach and 24/7 security.  It will offer amazing scenic views of the Gulf of Thailand.  Completion of the project is anticipated in 2014.  Prices of units at this beachfront condominium will start at THB 1.95 million, or THB 47,500 per square meter.