Singha Starts Ambitious $530m Growth

• Proeksa Meas
• 31 December 2015
• Local News
• 1109 Views

Thailand’s Singha Estate PCL, the property arm of Singha Corporation, plans three acquisition deals, worth at least 18 billion baht (around $530 million), during this year.

In 2016, the company’s revenue is expected to surge to 6 billion baht and it plans to launch four new projects – three condominiums and one housing project.

Max Future Co, a subsidiary of Singha Estate PCL, acquired the 4.5-billion-baht Sun Towers office building in July. The Sun Towers project, with a total utilised space of 122,965 square metres, comprises of two buildings located in the prime area north of Bangkok.

“Besides two hotels, which are Santi Buri Samui Hotel and PP Island Village Beach Resort, Sun Towers will be another project that generates recurring income for the company, while the Asok condominium and Singha Complex are undergoing construction and will be completed in the next two to three years,” Naris Cheyklin, CEO of Singha Estate, said.