Raimon Land: Record Profits and Promising Projects
The property boom in Thailand is enriching development firms like Raimon Land Plc. The developer has recently reported a record-high THB496 million, or about US$16.6 million, in net profit for the year 2012. Its EBITDA, or earnings before interest, taxes, depreciation and amortization, has recorded a landmark value of around THB1.06, equivalent to US$35.46 million, also in 2012. This may be partially attributed to the impressive improvement in its profit margin of 33 percent over the course of the year.
These figures were reported by the new chairman of directors at Raimon Land, Pradit Phataraprasit, and the company’s newly chosen director, Lional Lee. Mr. Lee’s family is based in Singapore. It became the largest shareholder of Raimon Land during the early part of February upon its acquisition of about 25 percent of the equity from IFA Hotels & Resorts 3 Ltd. Director Lee highlighted the plans Raimon Land will implement to achieve continued growth in the future. The company, he noted, will sustain its focus on the development of resort destinations in the country and high-end properties in its center, Bangkok. These segments, according to Director Lee, have been instrumental to the success of the company.
Raimon Land’s Current Projects
Raimon Land is currently building its projects –the 185 Rajadamri and The River, both located in Bangkok. According to its website, the 185 Rajadamri is a high-end condo project that promises buyers a great and extensive view of the Royal Bangkok Sports Club and Lumpini Park. Meanwhile, the River is Bangkok’s most desirable and prestigious address that showcases a world-class waterfront living. The other current projects of Raimon Land are the Zire Wongamat and Unixx located in Pattaya. Aside from these, the company intends to diversify its business operations by coming up with other income-generating sources such as commercial properties leasing. The revenues from hotel management fees will also further boost the company’s income statement.
Project in 2013
Furthermore, Raimon Land will launch a new project in 2013 – the Lofts Ekkamai. This property, which is high on its agenda is a 28-storey condominium project that will offer buyers 264 units that consist of studio, one-bedroom, two-bedroom, and three-bedroom units. The 2.1 billion baht project will rise in Bangkok’s Sukhumvit-Thonglor-Ekkamai district. The Lofts Ekkamai’s design was developed by HB Design, the same designer who worked on Raimon Land’s The River and 185 Rajadamri. This project will cater to both foreign and local buyers. It aims to respond to the new generation of condominium buyers’ demand for high quality yet affordable residence that has great proximity to public transport. This condo project will be launched in the second quarter of this year and is estimated to be completed by 2015.
Aside from these, there are more to come at Raimon Land as it also anticipates the launching of serviced apartments in the condo project The River under the Klapsons brand. The company will also continue to explore various opportunities to widen its business network in the region and even in the international market. It plans to do this by preserving its high standard and continuing to develop further its brands which are instrumental to creating the formidable reputation it currently enjoys.