Luxury property developer Raimon Land has announced that it is awarding the overall building contract for 185 Rajadamri, Bangkok’s most exclusive residential address, to Bouygues Thai Ltd., the local subsidiary of leading international construction company Bouygues. This follows a competitive tender process among the most reputed construction companies that are today shaping Bangkok’s skyline.
Under the terms of the contract, valued at approximately Baht 2.4 Billion, Bouygues Thai will be responsible for the sub-structure, the superstructure and the main building works, as well as the management of sub-contractors for mechanical, electrical and plumbing installations. Construction has commenced since April 1, 2011.
Bouygues Thai Managing Director Jean-Marie Verbrugghe, left, shakes hands with Raimon Land’s Chief Executive Officer Hubert Viriot, center, as Raimon Land Chief Operating Officer Kitti TungSriwong looks on.
One of the world’s largest construction groups, Bouygues has been the force behind several international landmark buildings such as The [email protected] 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 valuable partner for outstanding Raimon Land projects such as The River, which is in its final building stages along the Chao Phraya in Bangkok, and the recently-completed Northpoint condominium on Wongamat Beach, Pattaya.
An artist’s render of the 185 Rajadamri project.
Raimon Land’s Chief Executive Officer Hubert Viriot said his company was pleased to extend its working partnership with Bouygues Thai: “185 Rajadamri is our most luxurious project to date, poised to become a landmark in this prestigious neighbourhood. Therefore, it was even more critical for us to select a contractor with a proven track record in delivering top quality residential projects on time and within the budget.”
“Our tender involved five of the most respected names in Thailand’s construction industry, and I would like to thank them for participating in a very competitive process. Eventually, Bouygues Thai came out on top while meeting our criteria and requirements.
Bouygues Thai Managing Director Jean-Marie Verbrugghe, said: “The 185 Rajadamri tender was one the most challenging tender processes we ever participated in. Raimon Land’s management team had made it clear that the most competitive offer would win the contract, regardless of past experience with them. Therefore, I am extremely pleased to have won this tender and work again with Raimon Land, one of Thailand’s fastest growing property developers.”
Scheduled for completion in late 2013 and located on the last remaining freehold land plot along the historical Rajadamri Road, 185 Rajadamri is Raimon Land’s sixth project in Bangkok. Occupying an area of 4 rai, the project will feature 268 units for a total value of approximately THB 9.6 billion, lifting the total value of Raimon Land’s project pipeline to Baht 28 billion over the next 3 years.
Mr. Viriot concluded: “185 Rajadamri is the second project we launched in less than six months, thereby demonstrating our strong financial health and long term confidence in the market. With this construction contract now signed and with more than 35% of 185 Rajadamri condominium units already pre-sold, we can comfortably set our sights on further projects in Bangkok and elsewhere.”