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City resort group eyes rapid growth |
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Friday, 30 May 2008 |
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source: The Nation May 27, 2008
Property company City Resort Group is planning to develop two new residential
projects - one each on Rachadapisek Road and Sukhumvit Road next year - after
Rajvithi City Resort, its latest condominium project, valued at Bt450 million,
opens for pre-sale in the first quarter.
Rajvithi City Resort recorded a pre-sale of 30 per cent after bookings opened
last month, the group's managing director Chaivai Poonlapmongkol said.
City Resort Group was founded by Chaivai and a close friend of his. The group
has developed two city-condominium projects with a cumulative value of Bt1.5
billion. These include the Silom City Resort, which is sold out, and Sukhumvit
City Resort, where construction has been completed and 90 per cent of the total
project value of Bt1 billion has been recovered.
Chaivai, 60, said the group has been developing residential projects since 1990.
Its first few projects included the Royal Ping Garden and Resort in Chiang Mai,
a residential project which comprised townhouses, detached houses and
condominiums in the Klong Long district, Pathumthani province.
"We suspended our business expansion after the economic crisis of 1997 and came
back to expand our investment in 2003 by developing the Silom City Resort which
was successfully sold off and transferred to our customers in 2006," Chaivai
said.
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