Bouygues Construction - a leading global construction conglomerate with operations in 60 countries - is boosting its presence in Thailand through a strategic partnership with prominent real estate developer Raimon Land.
The move is a major show of faith in the Kingdom and its property sector from one of the world’s major proponents of quality construction standards. Bouygues Construction Chief Executive Officer, Mr Yves Gabriel, visited Thailand to hold discussions with Raimon Land Chief Executive Officer, Mr Nigel Cornick, and to open an office in Pattaya. Bouygues local subsidiary Bouygues-Thai, is overseeing the building of Raimon Land’s 374-condominium unit Northpoint project in Pattaya.
Mr Gabriel said Thailand’s high-end residential property market continues to offer solid returns, whether from rental yields or capital gains, and the long-term potential remains strong. “Especially now that the newly elected government is in place we feel this is the perfect time to increase our presence in one of Asia’s most dynamic property development markets,” Mr Gabriel said. Raimon Land’s Mr Cornick added his company’s partnership with Bouygues-Thai raises the bar for condominium construction in Thailand. “Thailand’s increasingly knowledgeable property investors have never been more demanding in their needs for high standard building values and quality finishes to their condominiums. “This is particularly true in Pattaya, where we recognised the enormous untapped potential from international buyers and we have recently opened an office there to service this demand.”
Raimon Land’s investment in Pattaya stands at THB2.7 billion which represents almost 30% of the company’s entire investment in Thailand. Bangkok-based Bouygues-Thai was founded in 1990 and has evolved into one of Thailand’s most respected construction firms. Managing Director Jean-Marie Verbrugghe leads a workforce of around 3,000. Completed Bangkok projects include the Impact Challenger and several luxury housing developments. With the number of Pattaya condominium units annually launched climbing to 2,268 in 2007 and Bouygues-Thai’s new partnership with Raimon Land, the residential property market in Thailand’s top beach resort looks set to move forward on stable…and profitable ground.
Photo Caption: from left to right: Senior Vice President – Global Real Estate Group, Lehman Brothers Mr. Blake Olafson, CEO Bouygues Construction Mr. Yves Gabriel, CEO Bouygues Batiment International Mr. O.M. Racine, CEO Raimon Land Plc. Mr. Nigel Cornick and Managing Director – Bouygues-Thai Mr. Jean Marrie. Verbrugghe.
PR Tel: 02 233 4338 or 39 Fax: 02 236 8030
Kwanrudee Maneewongwatthana Vice President Communications Raimon Land PLC 22nd Floor, The Millennia Tower 62 Langsuan Road, Pathumwan, Bangkok 10330
Tel : +66 (0) 2651-9600 to 4
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Type : Property
Story : PDN staff
Photo : Internet