Mark Mobius expresses confidence in PACE and MahaNakhon with continuing investment

Real Estate Press Releases Monday July 31, 2017 11:13
Bangkok--31 Jul--Feel Good Together
Paying his first visit to Thailand's landmark tallest tower, MahaNakhon, Templeton's Mark Mobius has expressed confidence in PACE's vision and growth potential.

Sorapoj Techakraisri, CEO of PACE PLC recently welcomed Mark Mobius, Chairman of Templeton Emerging Markets Group, to MahaNakhon, Thailand's landmark property recently completed by PACE, Thailand's leading developer.

"As an ongoing investor in PACE, and his role as Templeton Emerging Markets Group Chairman, it was a privilege to provide an indepth tour of MahaNakhon to Mark Mobius," said Sorapoj Techakraisri, CEO, PACE Development Corporation Plc. "We welcomed the opportunity to share the concept of our market leading residential developments and our vision for Thai real estate."

Currently in handover to owners, The Ritz-Carlton Residences at MahaNakhon features 209 ready-to-move-in homes ranging in 125-844 sqm. Already more than 75% sold, the award winning freehold properties were crafted for high-end Thai and international buyers, featuring the legendary service of the Ritz-Carlton and world-class design.

As the residential component of the 30 billion baht MahaNakhon, The Ritz-Carlton Residences is valued at 16 billion baht, with 4 billion baht already transferred and recognized with backlog remaining 6 billion baht pending for transfer within this year. Mark Mobius was also shown the other major revenue generating elements - lifestyle retail CUBE already open, upcoming Edition Hotel and Thailand's highest observatory plus Rooftop Bar opening in 2018 - to understand the entire integrated property.

Sorapoj explained, "I was pleased to welcome Dr Mark Mobius as one of our long term shareholders, and shared with him the company's vision, strength and stability showcased in our landmark MahaNakhon tower."

PACE assets are valued at 37 billion baht. As of quarter 1/2017, the company has a total of 15.4 billion baht backlog which can be recognized within the end of this year at 8.4 billion baht and target to sell more remaining residences valued at 2 billion baht.

Latest Press Release

Photo Release: MIDA Assets Pcl. Announces Collaboration with Wellity Pte. Ltd. to form MW WELLNESS MANAGEMENT COMPANY LIMITED

MIDA Assets Public Company Limited, a fast growing real estate developer in the hotel and resort industry, led by Wisood Ieosivikul collaborates with Singapore-based Company Wellity Pte. Ltd. - an innovative corporation incorporating medical wellness...


LPN-JLL have unveiled a business expansion strategy which will see JLL tasked with spearheading the office leasing segment and as a real estate agent for Lumpini Tower Vibhavadi Chatuchak (Building A) project to serve growing demands for office space,...

Sansiris 98 Wireless Luxury Condominium awarded with Residential Property Award for Thailand in annual Asia Pacific Property Awards 2018

Sansiri Public Company Limited, Thailand's leading full-service real estate developer, has just been honoured at the Asia Pacific Property Awards 2018-2019, for their project 98 WIRELESS in the Residential Property category for Thailand. 98 WIRELESS is...

New Launch Tinidee Hotel@Bangkok Golf Club

The re-birth of something new is always memorable, as is the transforming of Bangkok Golf Spa Resort into the "Tinidee Hotel@Bangkok Golf Club", a fresh and exciting resort under the Tinidee Brand. The brand's unique positioning features 3 "W"s -...

Central Pattana announces its 5-year vision to #Co-Create Center of Life pioneering future trends of retail property in digital era and investing on business expansions around 100 billion baht within next five years

- Join forces with partners to highlight 'Co-Create Center of Life' vision through 3 major strategies: Co-Creating Destination Concepts, Co-Creating Digital Platforms, and Co-Creating Partnerships - Invest around 100 billion baht within five years both...

Related Topics