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Raimon Land Partners with Baan Ying Family Group in Foray into F&B

12 Jan 2018 Properties: The Lofts Silom

Raimon Land Partners with Baan Ying Family Group in Foray into F&B

 

As part of a strategic diversification plan to create recurring revenue streams, leading real estate developer Raimon Land PCL. has partnered with Baan Ying Family Group to bring genuine Thai cuisine to Singapore. The joint venture will be 51% owned by Raimon Land PCL. and 49% Bann Ying Family group and will be operated out of Singapore.

The group plans to expand across Southeast Asia and China, opening 10-15 outlets by 2020. Target cities beyond Singapore include Kuala Lumpur, Phnom Penh, Hanoi, Ho Chi Minh, Shenzhen, Shanghai and Guangzhou.

Also due to open in 2018 is an upscale restaurant overlooking Bangkok’s Chao Phraya. Raimon Land’s foray into the food and beverage industry is projected to bring in over THB 100 m p.a in revenue and targeted to grow to over THB 1B within five years with the launch of further restaurants.

“This is a strategic and timely move for Raimon Land, diversifying our business and ensuring a steady alternative revenue stream”, says Adrian Lee, Chief Executive Officer of Raimon Land. “We aim to become a market leader in the local Thai food scene, bringing quality Thai food to a wider audience”.

Adds Songsorn Junsunjai, Director and Founder of Baan Ying, “As a family-owned business, we have been delivering genuine Thai cuisine for over 20 years. With a wide variety of dishes from across Thailand on our menus, our flavours are fresh, modern, and made for local palates. With this partnership, we look forward to offering foodies outside the country a taste of the real Thailand”.

The first two restaurants operated by the group will be opened in Royal Square, Novena in Q1 2018. Dink Dink, a 68-seater quick dining restaurant to be located on the 1st floor of the new mixed-use development, will offer Thai favourites in a casual, quick-service ambience. The menu will feature Thai Tom Yum noodles and old-school Thai beverages for dining in and to go.

The signature Baan Ying, a 126-seater casual dining restaurant to be located on the 2nd floor, will offer everyday Thai flavours as savoured by locals in a cosmopolitan setting of contemporary Thai design. A third concept is planned for launch in Q4 2018.

Located in the heart of Novena, the site one is the busiest hubs outside the CBD. With easy access to public transport, Royal Square is located 5 mins drive from Orchard Road and 8 mins from the CBD. The newest mall in Novena, it is nested in the middle of government buildings, large hospitals, hotels and Singapore largest Catholic Church. Foot traffic is expected to be well over 10,000 people per day. The Food and Beverage sector in Singapore is worth about S$9b.