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Real estate investment guru

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Quitting job at largest bank in US to guide family property business back in Bangkok, today he shares his real estate development know-how with readers. 



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Economics

Estate Guru lines up B1bn project spree

Ex-US fund manager leads family business
30/10/2012
Kanana Katharangsiporn

Property firm Estate Guru Co, run by a former financier at JPMorgan Chase & Co in the US, plans to launch four new projects worth a combined 1 billion baht next year.

The Wizdom project will comprise 73 townhouses priced at 1.69 million baht to 2.45 million baht.

The company will also launch a project on a 7-rai site on Soi Petchkasem 53 this year, said chief executive Nat Manasomjit, who resigned from JPMorgan Chase New York in the third quarter last year to join his family's property business.

He said construction of the Blue Line had increased land prices on Phetkasem Road from 90,000-100,000 baht per square wah, stable for many years, to 150,000-230,000 baht after mass transit construction started.

The project, Wizdom, worth 150 million baht, will comprise 73 townhouses priced at 1.69 million baht to 2.45 million baht. Its targeted net margin will be 20%. 

While shophouses generate higher net margins as high as 35% and are easy to develop and sell, finding suitable plots is much more difficult, he said...

..."To be successful in the property business, you need to find just the right location, while the other factors are uncontrollable," he said...

...Unlike other large developers that use prefabrication, Estate Guru will use red brick to build townhouses as that will allow owners to build extensions...

Mr Nat is also in talks with a Singaporean private fund about a joint venture for a townhouse development in the Ram Intra area. The fund has invested in condominiums in Singapore and is looking for new investments, while Mr Nat needs its know-how for pushing for a listing on the stock market.

(Source: Bangkok Post, Economics, Estate Guru lines up B1bn project spree, Ex-US fund manager leads family business, 30/10/2012, Kanana Katharangsiporn, link


Real Estate Vocabulary

housing estate - a group of homes (houses, townhouses) built together in the same area, one kind of "property development" (See Wikipedia)
estate - Same "housing estate"

property - land and buildings
real estate - Same as "property" 

property development - improving land by building buildings, houses, townhouses and other structures on the land (See Wikipedia)
real estate development

townhouse development
a townhouse development in the Ram Intra area

JPMorgan Chase & Co - "an American multinational banking corporation of securities, investments and retail. It is the largest bank in the United States by assets. It is a major provider of financial services, with assets of $2 trillion and according to Forbes magazine is the world's second largest public company based on a composite ranking" (See Wikipedia)

guru - a person who is respected for their knowledge of a particular subject and who gives advice ครู
Estate Guru - the name of the real estate development company discussed in the article

firm - a business or company บริษัท
property firm

join his family's property business

line up -
prepare something (example: line up financing for the real estate development project)

spree -
a short period of time spent doing a lot of an activity (with great intensity) (example: buying spree, spending spree, shopping spree, drinking spree)

fund - 1. an investment fund; a large amount of money to be invested; 2. money provided for some special purpose เงินทุน กองทุน
fund manager

financier - a person who works in the area of finance
finance -
the activity of getting companies and people to invest in a company (provide money to run or expand the business)

a former financier at JPMorgan Chase & Co

launch - to start something เปิดโครงการ, เริ่มต้น, เริ่มทำ
launch a project

plans to launch four new projects worth a combined 1 billion baht next year.

comprise - to consist or be made up of two or more things ประกอบด้วย
the project will comprise 73 townhouses priced at 1.69 million baht to 2.45 million baht.

site - a place where something happened ที่เกิดเหตุ สถานที่
a 7-rai site on Soi Petchkasem 53

executive - the highest level managers in a company
chief executive - the head of a company, the leader of a company
chief executive Nat Manasomjit

resign -
officially leave your job
third quarter -
months 7, 8 and 9 of the business year calendar
resigned
from JPMorgan Chase New York in the third quarter last year

construction - the work of building or making something, especially buildings, bridges, etc. การก่อสร้าง
construction of the Blue Line

stable - firmly fixed, not likely to move or change a lot, not likely to fail คงที่ ไม่เปลี่ยนแปลง  มั่นคง
stable
for many years

mass - large numbers จำนวนมหาศาล
transit - the act of moving from one place to another การเดินทางผ่าน
mass transit - buses, trains, ferry boats and other ways to move large numbers of people around town

mass
transit construction

net margin - profit margin, profit as a percentage of sales, a company's income divided by sales, a measure of how efficiently the company is run and how successful its price levels are (See Wikipedia)

targeted - 1. chosen, made as a goal or thing you are aiming at or trying to achieve; 2. aiming weapon or gun at something to shoot it ตกเป็นเป้า ตั้งเป้า เล็ง มุ่ง

targeted net margin - the profit as a percentage of sales the company wishes to achieve
Its targeted net margin will be 20%. 

shophouses - the building you see most often on the streets of Bangkok, with a shop on the first floor, and a living area on the floors above ร้านค้า

generate - create สร้าง กระตุ้นให้เิกิด to produce ก่อให้เกิด
shophouses generate higher net margins as high as 35%

suitable - right for a situation; right for someone or something เหมาะสม
plots - pieces of land

suitable plots - the right kind of land in the right location to build something at
finding suitable plots is much more difficult

factors - one of the things that effects a situation or event ปัจจัย
uncontrollable factors

the other factors are uncontrollable," he said...

prefabrication - a house or building that is partly built already (so just needs to be assembled at building site)
pre - before
fabrication - build

brick - baked clay used for building walls, houses and other buildings อิฐ
red brick

extensions - an additional part added to a building
build extensions
will allow owners to build extensions

talks - negotiations, formal discussions of problems between different sides in a conflict in order to solve the problem
in talks with

private fund - an investment fund that not everyone can participate in (not publicly traded on an exchange)
a Singaporean private fund

joint - done with someone else ร่วมกัน
venture - a new activity, usually in business, which involves risk or uncertainty ธุริกิจเสี่ยงแต่สามารถทำกำไรได้
joint venture - a business owned and operated by two or more companies

know-how - knowledge, knowing how to do something
pushing for - trying to get something (or make something happen)

listing - (of a company) the process of becoming a member of a the stock market and having shares sold to the public
a listing on the stock market

needs its know-how for pushing for a listing on the stock market

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