TEE International buys land parcel in Bangkok for S$6.6m

Mainboard listed engineering and real estate group TEE International said it has bought a plot of land in the Thai capital Bangkok for S$6.6 million.

The parcel, which spans 6,312 square metres is located near Bangkok’s Ramkhamhaeng University and shopping malls.

TEE International said the area is popular for education and commerce and is well connected by transport infrastructure.

It intends to develop the site into one-bedroom and studio units targeted at middle income residents.

The group has launched two developments in Bangkok over the last two years.

It sees the rapid emergence of the middle class in Bangkok as an exciting opportunity to be addressed.

TEE International said it will fund the purchase with both equity and debt.

Source : Channel NewsAsia – 7 Apr 2010

Join The Discussion

Compare listings