KUALA LUMPUR: Bina Puri Holdings Bhd's associate, Bina Puri (Thailand) Ltd (BPTL), is set to build the Bangkok Marina Resort and Spa in Thailand which will have a gross development value (GDV) of RM200 million for the first phase of the project.
The project is a joint-venture between BPTL and Thai-based UFUN Group Ltd, with an investor from China, Tang Cong Shun, also involved in the project.
BPTL will be the main contractor for the project with UFUN assisting the sales and investment coming from China, said Bina Puri Properties Sdn Bhd Chairman Tan Sri James Foong Cheng Yuen.
He said a joint venture company, Bangkok Property Co Ltd, would be formed to run the 768,524 sq feet project.
Under the joint venture, BPTL will hold 56 per cent of the total equity, UFUN 29 per cent while the remaining 15 per cent will be owned by the Chinese investor, he told a press conference after the signing of an agreement to establish Bangkok Property Co Ltd.
The project will comprise 817 single-storey, double-storey semi-detached, double-storey duplex and resort suites along with residential buildings, as well as, leisure and entertainment outlets.
Meanwhile, BPTL Executive Director Leong Keh Soon said in the first phase, approximately 500 suites were expected to be sold over three months, beginning today.
The construction of the project, to be funded via internally generated funds, as well as, bank borrowings, will commence in the first quarter of next year and is expected to be completed in three years.
Upon completion, he expected the parties involved to enjoy total returns of between 20 per cent and 30 per cent from the estimated GDV of RM200 million from the first phase.
A water park, marina centre and foreign village will also be developed in subsequent phases.
没有评论:
发表评论