RAIMON LAND TO ACQUIRE PRIME 37 RAI SITE ADJOINING AMANPURI RESORT PHUKET 23rd Feb 2006
Mr. Nigel J. Cornick the CEO of Raimon Land today announced that the company had entered into an Agreement to acquire 37 rai 1 ngan 20 square wah located on Bang Tao Beach Phuket for Baht 559.50 million. The agreement is subject to shareholder approval.
The 37 rai site has approximately 200 metres of direct beachfront to Bang Tao Bay and shares boundaries with the world renowned Amanpuri Resort.
Commenting on the proposed acquisition Mr. Cornick stated, “There can be few such opportunities left in Phuket to acquire freehold land of such quality, the superb views, beach frontage and close proximately to Amanpuri make the site a developers’ dream, one which Raimon Land will turn into a world classresidential development.” Mr. Cornick went on to add “With this latest acquisition Raimon Land now has three prime water front development sites, the others being Northpoint on Wongamart Beach, Pattaya and the 13 rai River Front site next to the Peninsula Hotel in Bangkok. The combined value of these projects is approximately Baht 15.00 billion securing at least three years development revenues for the company.”