PROPERTY
After an initial investment of 2.5 billion baht in its super-luxury MahaNakhon condominium, Pace Development Co Ltd plans to inject another 1.5 billion to start construction by early 2011.
CEO Sorapoj Techakraisri said the company's additional investment resulted from changing requirements from financial institutions that required the company put more equity into the project.
The banks reduced project loans from 55% of the total construction cost to 45%, or from 7 billion baht to 6-6.5 billion.
This article is older than 60 days, which we reserve for our premium members only.You can subscribe to our premium member subscription, here.
About the author
- Writer: Kanana Katharangsiporn
- Position: Business Reporter
Latest stories in this category:
- Greece faces bailout showdown
- Gold prices for Saturday
- Kasikorn makes global bet with Macquarie
- Thai offices abroad told to go on the offensive
- PTTEP Bongkot South project moves ahead of schedule
- Amlo: Thailand facing international blacklist
- Country Group tethers promotion plans
- Shell shells out B1bn for pump project
