RML TO BUILD ON RECURRING INCOME AND WELLNESS HOMES
Bangkok, 16 January 2018 – Raimon Land Public Company Limited (“the Company”), Thailand’s leading luxury real estate developer, announced today its plans to expand and develop the company’s commercial and recurring income businesses, including the Food & Beverage (F&B) and Hospitality segments.
Mr Lionel Lee, CEO of Raimon Land, said: “Diversification has been part of Raimon Land’s plan to create a stable, recurring income stream and create value for our Company and shareholders. I’m pleased to share several exciting initiatives the Company will be embarking on this year for our commercial, F&B and Hospitality segments. This is on top of the luxury condominium segment which remains our core business. The company will launch approximately THB 11 billion Baht of new luxury condominium projects in 2019. This is on track with our 5-year plan.”
The Company is expected to launch a commercial building development in the 2nd quarter of 2019 where an office and F & B concept will be revealed in the prime location of Ploenchit Road this year through a joint-venture agreement. Situated opposite the Central Embassy, the development spans over 6-rai and will have a total rental area of approximately 65,000 square meters. This iconic development also will have medical suits as part of the project and we will be welcoming a hospital partner to have a IVF facility and cryogenic egg tanking where state of the art technology will be used in this new concept. This is expected to recognise income from 2022 onwards.
In addition, Raimon Land will invest together with a medical partner in a THB 1.3 billion baht, Medical and Wellness Centre project cum wellness living at Khao Yai, Pak Chong district, Nakhon Ratchasima province. The Company will work with medical and wellness experts in the development, which will also boast state-of-the-art, high-tech health and wellness facilities – including a “Fertility Wellness Centre” to enhance and optimise fertility and an “Ageless Centre” to personalize wellness programs to complement our hotel in Khao Yai.
On the F&B front, Raimon Land will continue to partner with the Baan Ying Group to expand its restaurant business beyond its existing establishments in Singapore. The Company has plans to expand its restaurant franchise into new markets including Taiwan, Cambodia and China this year.
Mr Lee added, “Raimon Land has delivered many successful projects through working with established industry partners in our luxury developments. The Company is ready to replicate its partnership model towards our recurring income businesses and join forces with industry experts and leaders to achieve success in our commercial, F&B and hospitality segments as well.