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Pop-star condo developer appoints two sales agents

Wednesday, 17 September 2008

source: Bangkok Post Sept 16 2008 Jarasporn Co, owned by singer Nop Ponchamni, has appointed CB Richard Ellis and Bangkok Citismart to boost sales of its first condominium, expected to be sold out by the end of the year. ''The most difficult [part of becoming a property developer] is sales,'' said Mr Nop, who has produced music under the Bakery Music brand, one of the most successful Thai recording companies. Since the project's launch in May, 32 out of 58 units in the 200-million-baht, eight-storey Baxtor condominium in Phahon Yothin 14 have been sold. Construction is due to start by the end of this month and units are scheduled for transfer in early 2010. Mr Nop, the managing director of Jarasporn, said that after completing the project, the company would start future project development. He said that a joint venture with landlords would be much safer for a new property firm like his, due to lower financial risk. He added that plots under consideration for future projects include three to four rai in Soi Lasalle and Baring (Sukhumvit 105 and 107), as they are due to have a BTS extension line. ''Most of the landlords are my family's friends and relatives,'' said Mr Nop, a songwriter and music producer who graduated in industrial engineering at Mahidol University. ''We will study the potential of the land plots and the surrounding area to make a suitable design.'' The 36-year-old property rookie said his company had picked Deluca Co, the developer of the Bexley, Turnberry and Tristan condominiums in Sukhumvit, as a consultant for development and project design. ''We will use professionals to give us advice on project development and sales. In property development, planning and production is a key factor, as in industrial engineering,'' he said. Jarasporn has a registered capital of 24 million baht and is currently applying for project finance from UOB, Kasikornbank and the Government Savings Bank.

 

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