Bangkok Apartments | Bangkok Condos | Bangkok Serviced Apartments

Home

Hemaraj ups target

PROPERTY :Thailand's largest industrial land developer, Hemaraj Land and Development Plc, will revise up industrial land sales target for the second time this year due to the demand by overseas investors.

David R. Nardone president and chief executive said the company was considering revising its sales target as it already posted better-than-expected sales of industrial land sold totalling 1,200 rai for the first seven months of this year, which nearly met its earlier target for the whole year of 1,500 rai.

It also expected to post growth between 10-15% in terms of sales value to over 5.7 billion baht from 5.12 billion baht recorded last year.

Major investors includes producers of automobiles, auto parts, steel, food and consumer products, who are expanding their production capacities.

He said the group would issue bonds totalling three billion baht for its industrial land expansion and its joint venture with Glow to build a power plant called GEGCO One.

Hemraj shares closed at 1.13 baht, unchanged in trade worth 3.64 million baht.