Ananda bets on Suvarnabhumi

Ananda Development plans to launch seven projects worth 14.3 billion baht in the Suvarnabhumi Airport area this year.

Chief executive Chanond Ruangkritya said Ananda would develop housing projects in the vicinity of the new airport, with a focus on town houses and detached houses at prices starting from 800,000 to five million baht.

The first project, the 815-million-baht Sirinda Resort Life located on a 34-rai plot, will be launched in April.

Another six projects are planned for the second half of the year. They are: the 1.88-billion-baht Sirinda Perfect Life; the 1.61-billion baht Ananda Sportlife 2; two housing projects on Romkao-Krungthep Kreeta Road worth 993 million baht and 1.1 billion baht; a 3.84-billion-baht housing project in Onnuj-Lat Krabang; and a 3.05-jlbillion-baht project in Nam Daeng.

Mr Chanond said the company had set a target to become a leading housing developer in this area within three years.

He said that last year Ananda was successful in securing funds from Primerica Real Estate Investors, which acts on behalf of institutional investors in its TMW Asia Property Fund I.

Primerica is the real estate investment advisory business of Prudential Finance Inc of the United States.

Mr Chanond said the company had conducted feasibility studies into the potential for investment in other forms of property such as downtown condominidhums, offices, shopping centres, hotels and car-racing tracks.

''At present, we are ready for everything, especially our staff who have been trained to cope with the growth and expansion of our fund, joint investors and accumulated land,'' he said.

He said Ananda was also in talks with fund investors who believe the country's property market still has good growth potential. These investors were looking ahead to the future and could invest up to US$500 million, he added.

Bangkok Post
Friday February 02, 2007