Raimon Land Nearly Triple Its Profit

Thai luxury property developer Raimon Land has recently recorded a profit of THB1,157 billion for the first nine months of 2014, which is 155% higher than its profit for the full year of 2013.

This tremendous increase could be explained by Q3 2014 when the company actually transferred most units from completed luxury condominiums The River and 185 Rajdamri. This contributed to revenue of THB2,083 billion.

In the meantime, Sales are going strong for the developer as well since about 81% of the units at The Lofts Ekkamai – completion in 2016 – have been sold as of now and demand for the project condominium is still strong.

Raimon Land’s management reported: “Going forward, we expect strong pre-sales, steady transfers and low failure rates on all completed projects, and reduced financial costs due to our improved financial status”.

Regarding 2015, Raimon Land has already plans to developer two new high-rise residential projects without revealing any further details. Furthermore, the firm will launch a luxury semi-detached luxury house project with prices starting at THB65 million by beginning of 2015. Only 9 units will be developed.