Mitsubishi, AP unite for fourth condo project | Bangkok Post: business

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Mitsubishi, AP unite for fourth condo project

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Mitsubishi Estate Group, one of Japan's largest developers, will continue its investment in condominium development with SET-listed developer AP (Thailand), announcing a fourth joint venture worth 3.3 billion baht because it is confident in the long-term Thai economic outlook. 

Rhythm Sukhumvit 36-38 is 72% sold after its launch in May, with the 2.9-billion-baht project comprising a 25-storey building with 497 units priced from 3.9 million baht.

Both companies target a return on equity of about 20% a year and will focus on locations near mass transit lines in Bangkok.

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